Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests

Rebeca Moen  Apr 18, 2024 16:56  UTC 08:56

0 Min Read

Binance, the largest cryptocurrency exchange, has recently announced the launch of Binance Megadrop, a new token launch platform that offers a unique combination of airdrops and Web3 quests. This platform allows users to subscribe BNB to Locked Products and complete tasks in their Web3 Wallet to gain early access to rewards from selected Web3 projects before their tokens are listed on the Binance Exchange.

The first project to be introduced on Binance Megadrop is BounceBit (BB), a BTC restaking chain. The token details for BounceBit are as follows: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).

To get started with Binance Megadrop, users need to log into their Binance account and ensure they have at least one active Binance Web3 Wallet. They can then subscribe to BNB Locked Products and/or complete Web3 Quests to accrue scores. These scores will determine the rewards received through the Megadrop program.

The scoring system for Megadrop is based on the Locked BNB Score, which is calculated based on the quantity of BNB subscribed and the length of the subscription period. Users will also receive a Web3 Quest Bonus and a Web3 Quest Multiplier when they complete the designated Web3 Quests. The total score is calculated by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.

It is important to note that external wallets imported to the Binance Web3 Wallet will not count, and only backed-up wallets created within the Binance Web3 Wallet can participate in Megadrop. The Megadrop rewards will be airdropped to users' Binance Spot Wallets.

It is crucial for users to complete identity verification and hold at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, there are certain eligibility criteria for participants based on their jurisdiction. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are currently not eligible to participate in BB Megadrop.

Binance Megadrop aims to provide users with an interactive and rewarding experience within the crypto ecosystem. More details regarding the Megadrop amount, Web3 Quests, and the detailed listing plan will be announced separately.

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