Binance launchpads continue to be a lucrative and hyped bet for traders looking to get allocations to tokens of new projects.

Space ID, the latest launchpad whose subscription ended in the European morning hours on Wednesday, received over 8.4 million bnb (BNB) tokens in commitments from 99,000 holders over a 48-hour period that started early Tuesday.

That’s over $2.85 billion in commitments at current market prices for bnb.

All of that money won’t flow into Space ID’s ID tokens, however, as the project’s hard cap for funding is a relatively paltry $2.5 million. These tokens were offered at a rate of 0.00007412 BNB for each 1 ID, with 100 million ID offered in total.

The final allocation will be calculated based on the number of bnb commitments to total number of holders who participated.

(By Shaurya Malwa)

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