1. How to participate in Megadrop with BNB Locked Products? Do I need to have a Web3 Wallet to participate?
There are different ways for you to earn points, such as subscribing your BNB to Simple Earn’s BNB Locked Products, or connecting your Web3 Wallet to a project. You may refer to the project page for the available quests.
Subscribing to BNB Locked Products is not mandatory, but it’ll allow you to earn a higher score for Megadrop. You can participate in Megadrop without subscribing to any BNB Locked Products.
For more details, please refer to this FAQ and announcement.
2. How does Megadrop work with BNB Locked Products?
The more BNB you deposit in BNB Locked Products and the longer the duration, the more points you can get. Please note that each Megadrop may have a different multiplier for different locked durations.
For the actual scores and multiplier numbers, please refer to Megadrop on the Binance App (coming soon).
For more details, please refer to this FAQ and announcement.
3. How are scores calculated for Web3 Quests and BNB Locked Product?
Megadrop Points Formula:
Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus
Please note: If you do not finish all designated Web3 Quests, the multiplier will be 1.
Example 1:
User A subscribed to BNB Locked Products and earned 1,000 points, but they didn't complete any Web3 Quests. Their multiplier will be 1 and their final score will be 1,000 * 1 = 1,000
Example 2:
User B subscribed to BNB Locked Products and earned 1,000 points. They also completed some Web3 Quests and earned a multiplier of 2. Their final score will be 1,000 * 2 = 2,000
Please note that each project’s Web3 Quest multiplier and bonus points are different. You may refer to the announcement and the project page on Megadrop for the actual number.
For more details, please refer to this FAQ and announcement.
4. Do BNB Locked Products during redemption count towards my Megadrop score?
BNB during Locked Products redemption will also count towards Megadrop score. Once redeemed, your BNB will not be counted towards your Megadrop score.
For more details, please refer to this FAQ and announcement.
5. Any special fast/instant redemption allowed for BNB Locked Products?
No special fast or instant redemption will be allowed for BNB Locked Products for Megadrop. Please go through the normal redemption period (48 - 72 hours).
Please refer to the Flexible and Locked Products FAQs to learn more about how these rewards are calculated.
6. If there are Launchpool and Megadrop ongoing at the same time, will I be entitled to both rewards?
Yes, if there are Launchpool(s) and Megadrop ongoing at the same time, users are entitled to receive both Launchpool and Megadrop rewards.
In the case where there are two Launchpools running concurrently, the Launchpool rewards for your BNB assets will be divided in half between the first Launchpool and the second Launchpool. Your total BNB Locked Earn deposits will still be eligible for full rewards from Megadrop.
7. Why is the BNB locked snapshot amount different from my actual BNB locked amount?
When calculating the Megadrop BNB locked product snapshot amount for a particular project, it is based on the hours with a locked BNB amount from UTC 00:00 to the next UTC 00:00. Therefore, the BNB locked snapshot amount may differ from the user's BNB locked amount if it has not been locked for the full 24 hours.
Calculation method:
Daily BNB locked snapshot amount = (1st hour with BNB locked snapshot amount + 2nd hour with BNB locked snapshot amount +...+ 23th hour with BNB locked snapshot amount + 24th hour with BNB locked snapshot amount) / 24
If the user has not locked their BNB in the first and second hour, the BNB locked snapshot amount will be: (3rd hour with BNB locked snapshot amount + 4th hour with BNB locked snapshot amount +...+ 23th hour with BNB locked snapshot amount + 24th hour with BNB locked snapshot amount) / 24
The total BNB locked snapshot amount = sum of all daily BNB locked snapshot amounts / number of days from the start of the Megadrop BNB locked product snapshot to the calculation date
It is recommended that users lock their BNB before the snapshot time to maximize the locked BNB score.
Example:
The Megadrop BNB locked product snapshot is taken from 04/26/2024 00:00 UTC to 04/28/2024 23:59 UTC. A user had 10 BNB locked since 04/26/2024 12:00 UTC. The snapshot amounts are calculated as follows:
- Daily BNB locked snapshot amount for 04/26 = (12:00 UTC BNB locked snapshot amount + 13:00 UTC BNB locked snapshot amount +...+ 23:00 UTC BNB locked snapshot amount + 24:00 UTC BNB locked snapshot amount) / 24 = (10 BNB * 12) / 24 = 5 BNB
- Daily BNB locked snapshot amount for 04/27 = (00:00 UTC BNB locked snapshot amount + 01:00 UTC BNB locked snapshot amount +...+ 23:00 UTC BNB locked snapshot amount + 24:00 UTC BNB locked snapshot amount) / 24 = (10 BNB * 24) / 24 = 10 BNB
- Daily BNB locked snapshot amount for 04/28 = (00:00 UTC BNB locked snapshot amount + 01:00 UTC BNB locked snapshot amount +...+ 23:00 UTC BNB locked snapshot amount + 24:00 UTC BNB locked snapshot amount) / 24 = (10 BNB * 24) / 24 = 10 BNB
Total BNB locked snapshot amount = (Daily BNB locked snapshot amount for 04/26 + Daily BNB locked snapshot amount for 04/27 + Daily BNB locked snapshot amount for 04/28) / 3 days (counting from 04/26 - 04/28) = (5 BNB + 10 BNB + 10 BNB) / 3 = 8.333 BNB
8. I have completed the Web3 Quests, however, why are they still marked as incomplete or shows that verification failed?
Please check your wallet, only backed-up wallets that are created in Binance Web3 Wallet may participate in Megadrop. External wallets imported to Binance Web3 Wallet will not count.
9. If I do an emergency export/lose access to my Binance Web3 Wallet, will the rewards be affected?
Once tasks have been completed and verified successfully, even if you do an emergency export or lose access to your Web3 Wallet, your Web3 Quest Multiplier and Web3 Quest Bonus will not be affected.
10. When will my scores be updated?
Scores will be updated daily at approximately 4PM UTC.
For more information, please refer to:
Disclaimer: This document may have been translated and published in different languages. In the event of any inconsistency, misstatements, omissions, or errors appearing in any translated version, the English version shall prevail.
