Bitfinex announced yesterday that Elrond conduct a Catalyst sale using the new distribution model of Bitfinex Token Sales (BTS).
This will be the first prorated distribution through BTS, ensuring participation by all eligible users. The sale will begin on September 23.
Elrond is a technology ecosystem for a new Internet, and the EGLD tokens purchased during this sale will be used for betting, governing, transactions, smart contracts and validation rewards on the network.
The new prorated distribution introduced by Bitfinex Token Sales serves to meet the high demand during a token sale and allows projects to expand the opportunity to include all interested and verified participants.
In fact, thanks to this prorated model, tokens are not distributed to buyers on a first-come, first-served basis, but on a proportional basis, to secure a large number of participants, ensure wider distribution, and reduce the inevitable frustrations. generated by sales that sell out in a very short time.
The Elrond Catalyst sale will begin at 10:00 UTC on September 23, 2020. When sales open, Elrond Inc. will sell a limited number of eGold tokens (EGLD) at a price calculated based on spot prices at sale begins, and successful contributors will receive an additional 25% EGLD bonus. These bonuses will be distributed in four equal rounds on September 28, October 3, October 8, and October 13, 2020.
BTS CTO Paolo Ardoino said:
“Bitfinex Token Sales is dedicated to developing quality technology and will continue to update our platforms for the benefit of our users. We hope that the technology will facilitate the Elrond Catalyst Sale smoothly so that the Elrond team can focus on growing the community and acquiring new users. "
Elrond CEO Beniamin Mincu added:
“We are very excited about the prospects of using Bitfinex Token Sales technology to grow our community. It gives us the opportunity to focus on acquiring new users. We are excited to be able to incorporate them through the sale of Catalyst and ensure wider distribution through the new prorated token distribution model. ”
Elrond is a new blockchain architecture that aims to make the system a thousand times better in terms of performance and speed of execution. To achieve this goal, two key innovations have been introduced, a new Adaptive State Sharding mechanism and a Secure Proof of Stake algorithm that enables linear scalability with a fast, efficient and secure consensus mechanism.
In this way, Elrond can process up to 10,000 transactions per second (TPS), with a latency of 5 seconds and a negligible cost.