Malta-based cryptocurrency exchange, Binance announced that it is all set to list FC Barcelona Fan Token [BAR] in its Innovation Zone.
According to the official press release, the exchange revealed that it was bringing another Launchpad subscription format to its standard listing process for FC Barcelona Fan Token [BAR]. This will enable the users to buy BAR tokens using Binance Coin [BNB] at a 30% discount prior to the trading start time.
Binance-FC Barcelona’s Token
The blog also read,
“Binance will list FC Barcelona Fan Token (BAR) in the Innovation Zone and open trading for BAR/BTC, BAR/BUSD and BAR/USDT trading pairs at 2021-04-21 11:00 AM (UTC). Users can start depositing BAR now in preparation for trading.”
Discount sale hard cap is $2,000,000 with 1 BAR being equivalent to 0.04512816 BNB. Moreover, hard cap per user is 112.10 BAR and 0.19% of total token supply or 74,735 BAR tokens are offered for the discount sale.
FC Barcelona Fan Token [BAR]
The FC Barcelona Fan Token [BAR] is a utility token that gives premier soccer club Barcelona Football Club fans a tokenized share of input on club decisions and workings using the Socios application and services. This digital token was offered by the club via a partnership with blockchain firm Chiliz. In short, the Barca fans holding these coins can utilize the token to buy football club merchandise and tickets.
Furthermore, 600,000 tokens were initially allocated to club fans through a Fan Token Offering from the total supply. Barcelona had previously made $1.3 million in sales after launching the fan token. The remaining tokens are held by the club and can be acquired by participating in community activities, and by purchasing directly on cryptocurrency exchanges.
Over the last couple of months, Binance had listed several tokens on its Innovation Zone. The exchange had launched the “Innovation Zone” in September last year to allow only select cohort users to trade new decentralized finance [DeFi] tokens. The main objective of rolling out this platform to filter out users based on their risk appetite.