Binance, the world’s largest cryptocurrency exchange, has unveiled a new token launch platform called Binance Megadrop, which offers users a unique opportunity to earn rewards from promising Web3 projects before their tokens are listed on the exchange.

The platform seamlessly integrates airdrops and Web3 quests, creating an interactive and engaging experience for both new and experienced users in the crypto ecosystem.

TLDR

Binance has launched Binance Megadrop, a new token launch platform that combines airdrops and Web3 quests, allowing users to gain early access to rewards from selected Web3 projects before their tokens are listed on the exchange.
Users can participate in Binance Megadrop by subscribing to BNB Locked Products and completing tasks in their Binance Web3 Wallet to accrue scores, which determine the rewards they receive.
The first project introduced on Binance Megadrop is BounceBit (BB), a BTC restaking chain, with a max token supply of 2,100,000,000 BB and 168,000,000 BB allocated for Megadrop rewards.
The scoring system for Megadrop is based on the Locked BNB Score, Web3 Quest Bonus, and Web3 Quest Multiplier, with the total score calculated by applying the multiplier to the Locked BNB Score and adding the bonus.
Users must complete identity verification, hold at least one active Binance Web3 Wallet, and meet certain eligibility criteria based on their jurisdiction to participate in Binance Megadrop.

Binance Megadrop allows users to participate in token launches by subscribing to BNB Locked Products and completing tasks in their Binance Web3 Wallet.

By doing so, users can accrue scores that determine the number of rewards they receive from the selected Web3 projects. This innovative approach not only provides users with early access to potential high-growth tokens but also encourages them to actively engage with the projects and learn more about their underlying technology and use cases.

The first project to be introduced on Binance Megadrop is BounceBit (BB), a BTC restaking chain. BounceBit has a maximum token supply of 2,100,000,000 BB, with 168,000,000 BB (8% of the max token supply) allocated for Megadrop rewards. The initial circulating supply of BounceBit will be 409,500,000 BB, representing 19.5% of the maximum token supply.

To participate in Binance Megadrop, users must first 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 complete Web3 Quests to accumulate scores. The scoring system for Megadrop is based on three key components: the Locked BNB Score, Web3 Quest Bonus, and Web3 Quest Multiplier.

The Locked BNB Score is calculated based on the quantity of BNB subscribed and the length of the subscription period, with longer subscriptions yielding higher scores.
Users will also receive a Web3 Quest Bonus and a Web3 Quest Multiplier when they complete all the designated Web3 Quests with the minimum requirements specified.
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 only backed-up wallets created within the Binance Web3 Wallet are eligible for participation in Binance Megadrop.

External wallets imported to the Binance Web3 Wallet will not be considered. Additionally, users must complete identity verification and meet certain eligibility criteria based on their jurisdiction to qualify for Megadrop rewards.

Currently, 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 not eligible to participate in the BounceBit Megadrop.

The post Binance Introduces Megadrop: A New Token Launch Platform with Airdrops and Web3 Quests appeared first on Blockonomi.

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Filed under: Bitcoin - @ April 18, 2024 10:19 am