The latest project to be promoted through Binance’s Initial Exchange Offering (IEO) program has raised some eyebrows from the crypto community. Arkham bills itself as the world’s first on-series intelligence exchange, but more may be happening under the hood.
On July 10, Binance announce Its 32nd IEO, Arkham (ARKM) token sale on Binance Launchpad.
Arkham on Binance
There will be an airdrop of Arkham token for Binance Coin (BNB) holders who commit their tokens and close them in the sale.
In an effort to boost BNB, Binance has allowed an accumulation period from today until July 17. The ARKM token sale will happen between July 17th and 18th for BNB holders.
Arkham is a platform that allows users to buy and sell information about the owner of any blockchain wallet address.
the team advertiser Arkham Intel Exchange buyers request intelligence from the community by offering rewards. “Bounty hunters demand that she provide the requested information, thus earning the rewards,” she explained.
It added that anyone with “valuable information about the wallet or its owner” could offer that data for sale at a Buy Now price or by auction to other users.
“This creates a liquid market for information, allowing on-chain caches to monetize their work at scale: ‘Intel is winning.’”
The project has raised some eyebrows among the skeptical crypto community. Adam Cochran, partner at Cinneamhain Ventures, has been pursuing an advertising project for the Dallas-based company. He commented on the email leak that actually happened through the project’s referral links:
“Arkham also sniffs and records its users’ data, including linking to their wallet addresses, device IDs, locations, etc,” he said. “You are the product for free,” he added, comparing this to centralized social media platforms that collect user data.
Other industry watchers have Named Arkham as a “dox-to-win” project.
Hudson Jameson from Polygon Labs He said The snitch component to gain was useful, but orders end up in Arkham, which is the central arbiter. “Someone should dismantle the contracts and decentralize it,” he added.
BNB price pumps
Degens is already loading up on BNB in preparation for the Arkham token sale. As a result, the BNB price is up nearly 6% on the day.
BNB is trading at $246 at the time of writing, having jumped from $232 prior to the Arkham token sale announcement.
However, the exchange token has lost 20% since US regulators launched their attack on Binance early last month.
Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.