After Binance’s IEO project EDU went live, massive inflow of users took place, and here’s what happened next
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Chinese crypto blogger and journalist Colin Wu tweeted that the initial exchange offering (IEO) on Binance Launchpad for the Open Campus (EDU) blockchain project kicked off.
As the token sale started, Wu believes that the Binance Launchpad experienced “sudden large traffic” as a massive number of those wishing to buy EDU came over. This resulted in some users failing to see their funds displayed after they had transferred them.
Everything was fine in the end; however, after a brief delay, the blogger commented.
https://t.co/mqiXLGFVXL
— Wu Blockchain (@WuBlockchain) April 28, 2023
Earlier, U.Today reported that the chief of the Binance exchange, CZ, proudly announced the upcoming release of the EDU token on the launchpad. He reminded the community that the sale would be conducted in a subscription format, as usual, using a screenshot of users’ BNB balances taken within five days — between April 23 and April 28. The latter date is today.
The initial price of EDU token is $0.05, with the total supply of EDU standing at 1 billion tokens.
#Binance completes the @opencampus_xyz subscription Launchpad and will open trading for $EDU today at 12pm UTC.
➡️ https://t.co/Mqlql7NkZS pic.twitter.com/VmxK9fuAg4
— Binance (@binance) April 28, 2023
The goal of the Open Campus (EDU) project was to allow teachers and all others who create educational content to monetize their work in order to make their work widely acknowledged and create an alternative method of self-education.
Source: https://u.today/binance-launchpad-faces-sudden-large-traffic-as-edu-token-sale-goes-live