Binance, one of the world’s leading cryptocurrency exchanges, has announced the launch of Binance Megadrop, a new token launch platform that combines airdrops and Web3 quests.
This platform allows users to subscribe BNB to Locked Products and/or 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.
What you'll learn 👉
The First Project: BounceBit (BB)
BounceBit (BB), a BTC restaking chain, will be the first project to debut on Binance Megadrop. The BounceBit Megadrop will have the following details:
- Token Name: BounceBit (BB)
- 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)
Binance will provide a research report on BounceBit (BB) within 1 hour of publishing the announcement. More details on the Megadrop amount, Web3 Quests, and detailed spot listing plan will be announced in a separate announcement soon.
What is Binance Megadrop?
Binance Megadrop is a new token launch platform that seamlessly integrates Binance Simple Earn and Binance Web3 Wallet, reinventing the airdrop experience for users. The platform provides users with early access to selected Web3 projects prior to their Binance listing, providing a distinctive blend of engagement, education, and rewards. This positions Megadrop as an unparalleled interactive experience within both Binance and the broader crypto ecosystem.
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Show more +How to Get Started with Binance Megadrop
To participate in Binance Megadrop, users need to follow these steps:
- Log into your Binance account and ensure you have at least one active Binance Web3 Wallet. If you don’t have an account or a Web3 Wallet, register for a Binance account and create your first Web3 Wallet.
- Subscribe to BNB Locked Products and/or complete Web3 Quests to accrue scores.
- Complete subscriptions to BNB Locked Products on Simple Earn to accrue scores.
- Go to Megadrop on the Binance App (coming soon) and complete all the designated Web3 Quests to accrue scores and obtain a score multiplier.
- Receive Megadrop rewards based on your Total Score.
Score-Based Megadrop Mechanism
Megadrop rewards per qualified user will be based on the user’s total score in proportion to the total scores of all qualified users. The scoring system takes into account the locked BNB score, Web3 Quest bonus, and Web3 Quest multiplier.
The locked BNB score is based on the quantity of BNB subscribed and the length of the subscription period, with longer subscriptions yielding higher scores. The Web3 Quest Bonus and Web3 Quest Multiplier are awarded when users complete all the designated Web3 Quests with the minimum requirements specified.
The total score is calculated by applying the Web3 Quest multiplier to the total locked BNB score and then adding the Web3 Quest bonus.
Important Notes
- Only backed-up wallets created in the Binance Web3 Wallet may participate in Megadrop.
- Users can check if a quest is completed successfully on the Megadrop project page (available in the second announcement).
- Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
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