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Binance has just announced that its fourth sale of chips will be presented at Binance Launchpad on April 24th.
The crypto-stock market leader announced the sale of 1.9 billion chips for the Blockchain Matic Network Extensibility Platform (MATIC), representing 19% of the total supply.
Previous sales of Binance Launchpad tokens sold out instantly and created controversy for excluding many users who attempted to participate. This time, Binance is setting up a lottery to try to make the process fair. Users will be able to claim a maximum of five lottery tickets based on the amount of coins in Binance (BNB) that they hold in their wallet. The minimum amount to obtain a ticket is 50 BNB.
#Binance Launchpad announcement @maticnetwork as the next project under its new token toss formathttps: //t.co/W2sr608fO9
– Binance (@binance) April 1, 2019
In parallel, Binance Research released a report detailing a "design flaw" affecting the Augur prediction market platform.
Augur, with the help of its REP symbol, offers a decentralized market where everyone can create a bet on the outcome of a future event. But according to Binance, cheaters can play against the system by creating invalid bets on purpose.
Here's how it works: Cheats intentionally create a bet that will ultimately be declared invalid. This can be done by using an incorrect date or by creating terms with inherent flaws and contradictions.
When a contract is declared invalid, all participants receive an equal share of the total amount of the pot, regardless of the amount actually wagered. This opens the door to shenanigans.
According to Binance, the cheats played the system by creating a bet focused on predicting the future price of Ethereum. When the bet was declared invalid, the fraudsters went out in front.
"According to Predictions.global, the amount invested in the seemingly correct result, the range of $ 100 to $ 1,000, represents a large majority of the market and, based on the market price of that range for the duration of the market, investors On average, the results placed nearly twice as much money as manipulators, so that an equal price for all outcomes could result in a loss of more than 50% for normal participants and a profitability 100% + for manipulators.
Augur says that he will tackle the problem in version 2.0 of the platform, currently under development.
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