Binance has announced the newest platform on Binance - Megadrop, a platform that gives users early access to Web3 projects before the tokens are listed on the exchange.
The first project to launch on Megadrop is BounceBit (BB), a layer 1 blockchain focused on BTC staking that has been invested in by Binance Labs.
Some basic information about BounceBit
Token name: BounceBit (BB).
Maximum total supply: 2,100,000,000 BB.
Reward token Megadrop: 168,000,000 BB (accounting for 8% of total supply).
Initial supply: 409,500,000 BB (accounting for 19.5% of total supply).
Research information of BounceBit project Refer to this link
So what is Megadrop? What is the difference between Megadrop and Launchpool?
1. Megadrop is a platform for launching new tokens through airdrops and performing web3 tasks, integrating the two features Binance Simple Earn and Binance Web3 Wallet.
By participating in the Megadrop, users can receive early access to rewards from selected web3 projects, before the tokens are listed on the Binance exchange.
2. Differences between Megadrop and Launchpool
- How to participate, how to Register tokens: Megadrop only uses BNB Locked Products to register tokens. Binance Launchpool is more diverse as it allows users to register tokens using BNB Locked Products, BNB Vault or lock directly into Launchpool.
- Reward calculation: Megadrop reward is based on the amount of BNB the user has locked and the lock time, plus the completion of the Web3 Quest. Binance Launchpool rewards are based on Launchpool registration volume.
- Boost rewards: Megadrop allows users to boost their rewards by completing tasks in Binance Web3 Wallet. Binance Launchpool does not allow users to do this.
- Reward distribution: Both Megadrop and Binance Launchpool distribute rewards to users' Binance Spot wallets.
- Project type: Binance Megadrop only supports new tokens. Binance Launchpool supports both new and existing tokens.
→ In short, there are many differences, but in my opinion the biggest difference is still only USING $BNB according to the Locked Products mechanism → Thereby, there will be less release of $BNB to the market→ Like So $BNB will quickly maintain its price and reach the $1500 mark early in 2024
How to participate in Binance Megadrop is completely simple
- Step 1: Sign up for a Binance account
- Next, verify your identity and buy P2P $BNB (current price ~$600). Depending on your finances, you can buy more or less $BNB → Then, go to the Binance app, search the search bar for the keyword "Megadrop"
- Step 2: Create Binance Web3 wallet
Instructions for creating a Binance Web3 walletHere
- Step 3: Buy $BNB and $BTCB send to Binance Web3 wallet.
Everyone select Select Transfer (on web3 wallet) → select $BNB or $BTCB to transfer from Exchange and Withdrawl
- Step 4: Complete registration of BNB Locked Products on Earn feature to accumulate points.
Link https://www.binance.com/en/earn/simple-earn?asset=BNB
→ Access Earn Section → Simple Earn → Select BNB → Select Duration (Number of Lock Days) → Subscribe
- Step 5: The Megadrop reward will be airdropped to everyone's Binance Spot Wallet.
How to calculate points of Megadrop
Total Points = (BNB Key Points x Web3 Quest Multiplier) + Web3 Quest Rewards
Through this article, I hope to help you better understand Megadrop. Those who are not clear about any part can inbox me and ask, I will help answer it soon. I believe that when this platform is launched, $BNB will go to the moon.
#Binance #Megadrop
