Binance Launches Megadrop, Token Issuance Platform Featuring Airdrops and Web3 Tasks
Binance Launches Megadrop, Token Issuance Platform Featuring Airdrops and Web3 Tasks
2024-04-18 11:30
IMPORTANT: Binance will be the first platform to list the token mentioned here. The start time of trading will be announced in a separate announcement. Any claims to offer this token for sale before the stated timeline are false advertising. For the safety of your funds, please do your own research.
This is a general announcement. The products and services mentioned here may not be available in your region.
Dear Binance Users,
Binance is launching Binance Megadrop, its new token issuance platform featuring airdrops and Web3 tasks. On this platform, users can gain early access to rewards from selected Web3 projects before their tokens are listed on the Binance Exchange by participating in Locked Products with BNB and/or completing tasks in the Web3 Wallet.
First to be offered on Binance Megadrop will be the BounceBit (BB) project, a BTC restaking chain.
BounceBit Megadrop Details:
Token Name: BounceBit (BB)
Max. Token Supply: 2,100,000,000 BB
Megadrop Token Rewards: 168,000,000 BB (8% of maximum token supply)
Circulating Initial Supply: 409,500,000 BB (19.5% of maximum token supply)
Research Report: BounceBit (BB) (will be available within 1 hour after this announcement is published)
More information about the Megadrop amount, Web3 Tasks and detailed listing schedule will be announced in a separate announcement soon.
What is Binance Megadrop?
Binance Megadrop is a new token issuance platform that reshapes users' airdrop experience by seamlessly integrating Binance Easy Earn and Binance Web3 Wallet. Megadrop offers users early access to selected Web3 projects before they are listed on Binance.
This unique combination of engagement, education, and rewards makes Megadrop an interactive experience like no other in both Binance and the entire crypto ecosystem.
How to Start Using Binance Megadrop?
Log in to your Binance account.
Accumulate points by participating in BNB Unlocked Products and/or completing Web3 Challenges. To complete Web3 Challenges, make sure you have at least one active Binance Web3 Wallet. If you haven't already, sign up for a Binance account and create your first Web3 Wallet.
Complete your participation in BNB Locked Products and accumulate points in Easy Earnings.
Accumulate points and get a points multiplier by going to Megadrop on the Binance App (coming soon) and completing all specified Web3 Challenges.
Get Megadrop rewards based on your Total Points.
Points Based Megadrop Mechanism:
The Megadrop reward per qualifying user will be determined by the ratio of the user's Total Points to the Total Points of all qualifying users.
Scoring System:
Locked BNB Points: Users will earn points depending on the amount of BNB contributed and the length of the participation period. Longer participation results in higher scores. This score is based on averages over daily snapshots and may fluctuate.
Web3 Task Bonus* and Web3 Task Multiplier: Users receive a Web3 Task Bonus and a Web3 Task Multiplier when they complete all specified Web3 Tasks with the specified minimum requirements.
The system will multiply the total Locked BNB Points by the Web3 Task Multiplier to calculate users' Total Points and then add the Web3 Task Bonus to this result.
Total Points = (Unlocked BNB Points * Web3 Quest Multiplier) + Web3 Quest Bonus
* If users do not finish all specified Web3 Tasks, the multiplier will be 1.
Users can refer to the FAQ section for more information.
Update to BNB Locked Products
In anticipation of future Megadrop events, Binance has updated APRs and increased maximum participation limits per user for BNB Locked Products as per the table below.
Duration
Standard APR
Max. Per User Participation Limit
15 days
%0,6
500.000 BNB
30 days
%0,9
1.000.000 BNB
60 days
%1
400.000 BNB
90 days
%1,39
400.000 BNB
120 days
%1,69
20.000 BNB
There will be an upper limit on the total participation amount for BNB Locked Products used in the calculation of Locked BNB Points in all Megadrop events. Further information will be provided in a separate announcement.
Users will receive different points for each active BNB Locked Products participation they have in each Megadrop, depending on the length of the relevant participation period. The longer the period, the higher your Locked BNB Points will be.
Participating in BNB Locked Products allows users to earn more points for Megadrop. Please note that assets in the BNB Vault are not included in the points calculation for Megadrop events.
Users who participate in Megadrop by locking their BNB with Locked Items will also receive Launchpool rewards. Users do not need to manually withdraw their BNB holdings from BNB Locked Products to participate in Launchpools.
Users can refer to the Frequently Asked Questions About Megadrop and BNB Locked Products page for more information.
Please be aware:
External wallets transferred to Binance Web3 Wallet will not be taken into account.
Only backed up wallets created under Binance Web3 Wallet can participate in Megadrop.
Users can check whether a task has been completed successfully by going to the Megadrop project page (the page will be available with a second announcement).
Megadrop rewards will be airdropped to users' Binance Spot Wallets.
BounceBit (BB) Project Links:
Website
Whitepaper
X
Medium
Other informations:
Terms and Conditions:
Only users who have completed authentication and have at least one active Binance Web3 Wallet are eligible for Megadrop rewards.
Snapshots of users' engagement in BNB Locked Products will be taken at any time several times per hour to record users' average hourly engagement and calculate user rewards. User rewards will be updated daily.
Users must be in an eligible jurisdiction to participate in BB Megadrop. Currently, users residing in the following countries or regions cannot participate by participating in BNB Locked Products or completing Web3 Challenges:
Easy Earn BNB Locked Products participants: Australia, Canada, Cuba, Crimea Territory, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States and territories (American Samoa, Guam , Puerto Rico, Northern Mariana Islands, U.S. Virgin Islands) and all non-government-controlled territories of Ukraine.
Web3 Missions participants: Australia, Brazil, Canada, Cuba, Crimea Territory, Cyprus, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United States and territories (American Samoa, Guam, Porto Rico, Northern Mariana Islands, U.S. Virgin Islands) and all non-government-controlled areas of Ukraine.
Please note that this list of excluded countries is not complete and may change as local rules, regulations and other factors evolve. List; It may be updated periodically to adapt to changes in laws, regulations or other factors.
Binance may impose caps on the amount of tokens awarded as rewards at its sole discretion.
Please refer to the Binance Easy Earn Terms of Use before using BNB Locked Products on the Binance Easy Earn platform. Users can also view the FAQ on Easy Earn Locked Products for more information.
There may be inconsistencies in the translated version of this article, which was originally written in English. Where there are discrepancies, please refer to this original version for the latest and most accurate information.
Thank you for your support!
Binance Team
18/04/2024
Note: This announcement was updated on 04/18/2024 to include an update regarding BNB Locked Products.
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Binance reserves the right to revise or cancel this announcement at its sole discretion at any time and for any reason without notice.
Disclaimer: Digital asset prices may fluctuate. The value of your investment may fall as well as rise and you may not get back the amount you invested. You are responsible for your investment decisions and Binance accepts no liability for any losses you may incur. Binance reserves the right to select the markets and jurisdictions in which Megadrops will be conducted and may restrict or deny Megadrop participation in certain regions at its sole discretion. Binance does not guarantee that you will receive any specific rewards or returns over time. Your right to receive tokens or participate in Megadrop is at our sole discretion. It is not financial advice. For more information, please see our Terms of Use and Risk Warning sections. You may be subject to Easy Earn and Binance Web3 Wallet terms.
