100,000 investors deluge Casper Labs’ token sale, with most expected to miss out

100,000 investors deluge Casper Labs’ token sale, with most expected to miss out

That’s about 10X more hopefuls than are likely to secure tokens in the sale.

It’s the first of three phases to Casper’s token sale and commenced on March 23 at midnight UTC. Investors are competing for 800 million CSPR tokens at prices of $0.015, with the tokens subject to a 12-month lock-up. Participants are limited to purchasing between $100 and $1,000 worth of tokens each.

Our top trading bots

If every investor invests the full $1,000 allocated to them, only 12,000 investors will be able to participate. With 15% of tokens already sold and more than 100,000 people queued up, the only way everyone will be served is if each investor tips a meager $102 into the sale.

Investors hoping to participate in Casper Labs’ CSPR token sale on CoinList are in for a rude shock, with more than 100,000 investors queuing up for the sale so far.

Waiting room to participate in Casper Labs’ tokensale: CoinList

The token sale has broken the previous record for signups on CoinList, held be the community sale for Dapper Labs’ FLOW token which had more than 12,000 people.

After receiving more than 100,000 sign-ups for Casper’s offering, CoinList reduced purchase limits and raised the number of tokens allocated to each phase of the sale. The first phase allocation increased from 400 million CSPR (or 4% of genesis supply) to 800 million tokens (or 8%). Purchase limits were reduced from $5,000 to $1,000.

The sale’s second phase, which launches on March 25 and will see tokens sold for $0,02 with a six-month lockup, saw its allocated supply increase from 300 million to 400 million and its maximum purchase size reduced from $1 million to $250,000

The final phase of the sale will distribute tokens that will freely trade after a 40 day-vesting period. Its allocation increased from 300 million to 400 million, while purchase limits dropped from $30,000 to $5,000.

In a bid to prevent website outages amid high demand from investors, as was seen during Near’s offering on CoinList in August 2020, CoinList implemented virtual waiting room software for the Casper sale.

After beginning life as a development team working on Proof-of-Stake scaling for Ethereum 2.0, Casper Labs announced it was pivoting to build its own blockchain in April 2020. In February 2021, the team announced it had partnered with China’s Blockchain Service Network to make its smart contract platform available to developers building on the BSN.

Despite the surging demand for Casper’s token, a former employee filed a lawsuit against CapserLabs accusing the team of distributing misleading marketing materials ahead of the sale.

Read on concerning Cointelegraph
EOS Falls 10% In Rout
Investing.com - EOS was trading at $10.3383 by 12:33 (16:33 GMT) on the Investing.com Index on Saturday, down 10.01% on the day. It was the largest one-day...
SoftBank founder hesitant on Bitcoin but says it ‘can’t be ignored’
Tesla’s tag game with Bitcoin (BTC) might have triggered a race in the corporate world to invest in crypto, however, SoftBank still prefers to take a more...
Bitcoin’s upcoming Taproot upgrade and why it matters for the network
While a vast majority of crypto enthusiasts around the globe seem to be gushing about Ether (ETH) at the moment and how its upcoming London hard fork stands...
Litecoin Climbs 11% In Bullish Trade
Investing.com - Litecoin was trading at $363.621 by 02:34 (06:34 GMT) on the Investing.com Index on Friday, up 10.90% on the day. It was the largest one-day...
JPMorgan and DBS to launch blockchain cross-border payment platform
Major American investment bank JPMorgan is working with Singapore’s largest bank, DBS, and state investment firm Temasek to launch a new blockchain company...
Solana (SOL) hits new highs as DApps, DeFi and stablecoins join the network
The arrival of institutional investors and the rise of decentralized finance (DeFi) has been an incredible boon for the entire cryptocurrency sector but...
Dogecoin (DOGE) hits a new ATH as Bitcoin bulls try to flip $63K to support
The price of Dogecoin (DOGE) experienced a strong 36% rally on April 13 and established a new all-time high at $0.0961. While the exact reason for the rally...
VC funds bullish on crypto, increase investment in blockchain startups
Venture capital funding for crypto and blockchain startups looks set to break records in 2021. As previously reported by Cointelegraph, crypto firms received...
Chainalysis has crypto’s 'heightened momentum' to thank for multibillion-dollar valuation
Blockchain analytics firm Chainalysis recently added $100 million to its books thanks to investments from a number of parties, including Salesforce CEO Marc...
3 reasons why StormX (STMX) price has rallied 2,800% in 2021
Cashback rewards for purchases have long been a popular tactic used by banks and credit card companies to entice consumers to use their services.Several...
Mining firm aims to go public through merger with Nasdaq-listed company
Greenidge Generation, a New-York based Bitcoin mining company that owns its own power plant, aims to go public through a merger with technical support provider...
Lee Names Factors For Bitcoin to be Worth $150,000
Since mid-November bitcoin has been experiencing turmoil when it started falling from the margin of $6,300. As of writing, BTC’s price is $3,311, one of...
Another Reckless Prediction: Startup Exec Says $60,000-Worth Bitcoin Is Real
Thanks to the continuous developments in the field of regulation as well as infrastructure, the most valuable cyber-coins might continue surging. Such...
Wanted Truth About BTC? Nakamoto Allegedly Promises to Write a Book
The illustrious father of Bitcoin Satoshi Nakamoto is allegedly preparing himself (themselves?) to write a book, telling people all the truth regarding...
Segwit 2x: Christmas Gift for Crypto Community to be Presented
Bitcoin Segwit2X team, which calls its project “the revival of Bitcoin”, was supposed to present the hard fork of the most prominent cryptocurrency back...