Binance has launched a new token issuance platform Megadrop for new and old Web3 users. Users can apply for BNB regular products on the Binance Megadrop platform, and/or complete the project's tasks in the Binance Web3 wallet, and interact directly with selected project parties to obtain airdrop rewards!

The first project to be listed on Binance Megadrop is BounceBit (BB), a BTC re-collateralized public chain.

Project Details

  • Token name: BounceBit (BB)

  • Maximum token supply: 2,100,000,000 BB

  • Initial circulation: 409,500,000 BB (19.5% of the maximum token supply)

  • Total Megadrop: 168,000,000 BB (8% of the maximum token supply)

  • Research report: BounceBit (BB) (Research report will be online within one hour of this announcement)

Binance will list BB after the Megadrop is completed. The specific listing plan will be announced separately, so please stay tuned. The Megadrop quota information and Web3 task details will also be announced at that time.

Binance Megadrop Introduction:

Binance Megadrop is a new token issuance platform launched by Binance. It aims to provide users with a better airdrop experience by seamlessly connecting the Binance Earn Coin platform and the Binance Web3 wallet. Megadrop users will have early access to selected Web3 projects before they are listed on Binance.

Combining many advantages such as interaction, education and rewards, Megadrop provides an unparalleled interactive experience for users of the Binance platform and the entire digital currency ecosystem.

How to participate in Binance Megadrop:

  • Subscribe to BNB regular products and/or complete Web3 tasks to accumulate points. Please make sure you have at least one active Binance Web3 wallet to complete Web3 tasks. New users can click to register a Binance account and create your first Web3 wallet;

  • Subscribe to BNB regular products on the EarnCoin platform to accumulate points;

  • Complete all designated Web3 tasks on the Megadrop page of the Binance App (the page will be available in the second announcement) to accumulate points and receive point multipliers;

  • Get Megadrop rewards based on final points.

Megadrop points mechanism:

  • The Megadrop reward for a single qualified user depends on the proportion of the user's final points to the total final points of all qualified users;

  • Points system:

    • Locked BNB Points: Users will accumulate points based on the amount of BNB they purchase for any BNB regular products on the EarnCoin platform and the length of the purchase period. The longer the purchase period, the higher the score. This score may fluctuate as it is based on an average of daily snapshots.

    • Web3 Task Points* and Web3 Task Multipliers: Users who complete all designated Web3 Tasks and meet the minimum task requirements will accumulate Web3 Task Points and receive Web3 Task Multipliers;

    • The system will calculate the user's final points by multiplying the user's locked BNB points by the Web3 task multiplier and adding the user's Web3 task points.

      • User’s final points = (locked BNB points * Web3 task multiplier) + Web3 task points

* If the user does not complete all designated Web3 tasks, his Web3 task multiplier is 1.

Please see the FAQ for more details.

BNB regular product updates

  • In preparation for future Megadrop events, Binance has updated the BNB fixed-term product interest rates and increased the maximum purchase limit for BNB fixed-term products per user:

The higher the share of new coins you get by depositing BNB for 20 days

  • For all Megadrop activities, the total amount of BNB regular product subscriptions used to calculate locked BNB points is capped. More details will be announced separately;

  • For each Megadrop, users can get different points from locked BNB products according to the corresponding subscription period. The longer the subscription period, the higher the locked BNB points;

  • Users can earn more points for Megadrop by purchasing BNB regular products. Please note: BNB income pool assets are not counted towards Megadrop activity points;

  • Users who hold BNB fixed-term products will automatically receive new coin mining (Launchpool) rewards when participating in Megadrop, without having to manually redeem and invest in the new coin mining pool;

  • For more information please see the FAQ on Megadrop and BNB Periodic Products.

Note:

  • Wallet addresses imported into Binance Web3 wallet will not be able to participate;

  • Only backed-up wallets created in the Binance Web3 wallet can participate;

  • Users can check the completion status of Web3 tasks on the Megadrop project page (the page will be provided in the second announcement);

  • Megadrop rewards will be airdropped to users’ Binance spot wallets.


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