Leading cryptocurrency exchange has listed Algorand (ALGO) on its platform. Algorand is a permissionless, pure proof-of-stake blockchain that ensures full participation, protection and speed within a truly decentralised network. It aims to become the standard for blockchain technology and wants to promote mainstream blockchain adoption.
According to Binance Research, Algorand did not conduct a private token sale but its parent Algorand Inc. did conduct equity raises of $4,000,000 in February 2018 and $62,000,000 in October 2018 for funding protocol development. The ALGO token price was determined via the Dutch Auction method and was sold for a clearing price of $2.40.
Binance users can trade Algorand with the following trading pairs: ALGO/BNB, ALGO/BTC, ALGO/USDT, ALGO/TUSD, ALGO/PAX and ALGO/USDS. The exchange has also informed that it did not charge any listing fee from the project.
Incidentally, Binance recently announced the next token sale on Binance Launchpad called Elrond. In addition, Binance DEX has now listed CanYaCoin which is now available for trading with the CAN/BNB pair.
(Image Credit: Binance)