Web3Wallet

DeFi (Decentralized Finance) staking offers users an opportunity to earn passive income by locking digital assets into decentralized protocols. Binance Web3 Wallet simplifies this process by providing direct access to DeFi staking from within the Binance app.
This guide outlines the step-by-step process to start DeFi staking using the Binance Web3 Wallet.
1. Set Up the Binance Web3 Wallet
To begin, open the Binance app and tap on the ‘Wallets’ section. Select ‘Web3’ to access the Binance Web3 Wallet. If you haven’t used it before, follow the setup instructions to create or import a wallet. Secure your seed phrase properly, as it is the only way to recover your wallet.

2. Fund Your Web3 Wallet
You must have crypto assets in your Web3 Wallet to stake. To transfer funds:Tap ‘Deposit’ in the Web3 Wallet.Select the asset you want to transfer (e.g., BNB, ETH).Choose to transfer from your Binance Spot Wallet or deposit from an external wallet.
Confirm the transaction.
Ensure you have enough native token (like BNB for BNB Chain or ETH for Ethereum) to cover gas fees.
3. Access DeFi Staking DApps
Inside the Web3 Wallet, tap on ‘DApps’ to explore available DeFi protocols. Binance integrates popular DeFi staking platforms such as:PancakeSwap (BNB Chain)Lido or Rocket Pool (Ethereum)Venus, Aave, and other liquidity protocolsChoose the DApp where you want to stake and connect your Web3 Wallet when prompted.
4. Select a Staking Pool
Once connected to the DApp, navigate to the staking or earn section. Select the token and pool you want to stake in. You’ll usually see details such as:
Expected Annual Percentage Yield (APY)Lock duration (if any)Total Value Locked (TVL)Review the conditions before proceeding.
5. Approve Token and Stake
To begin staking:Click on ‘Approve’ to allow the DApp to interact with your tokens.Then tap ‘Stake’ or ‘Deposit’, enter the amount, and confirm the transaction in your Web3 Wallet.Pay the gas fee and wait for confirmation.Your staked tokens will be visible within the DApp interface or your wallet dashboard.
6. Monitor and Withdraw Rewards
You can track your staked assets and earned rewards directly in the DApp or in the ‘DeFi’ section of your Web3 Wallet. To claim or withdraw rewards:
Open the DApp
Tap ‘Harvest’, ‘Claim’, or ‘Unstake’Confirm the transaction and pay the required gas feeSome pools may have a minimum lock period or withdrawal conditions, so check carefully. Now give it into pdf form with proper headings and subheading as well.
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After Launchpool & Launchpad Binance Again Comes up with another user reward platform - Binance MegaDrop, a quest based Airdrop incentive for Binance app & Web3 Wallet Users. 
Binance Megadrop, is a new token launch platform with airdrops and Web3 quests, where users can subscribe BNB to Locked Products and/or complete tasks in their Web3 Wallet for early access to rewards from selected Crypto projects before their tokens are listed on the Binance Exchange.

TLDR; 

 Earn free crypto on Binance MegaDrop by locking BNB in Savings or completing Web3 tasks (quests) to get early access to new crypto projects.Activate your Binance Web3 Wallet to participate in Web3 quests. Download the Binance app and activate your Web3 Wallet.The more points you earn by locking BNB and completing quests, the bigger your reward will be.Your reward is based on your total score compared to all participants. Locking more BNB for longer gets you more points.MegaDrop focuses on early access to new tokens, while Launchpool can be for new or existing tokens. MegaDrop rewards are based on points, Launchpool rewards are based on amount locked.

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🔆 How To interact With MegaDrop 
1. Make sure you're logged in to your Binance account and have activated the Binance Web3 Wallet. There are two ways to collect points for Megadrop rewards:
2. Lock up your BNB: Subscribe to BNB Locked Savings products on Binance to earn points.
3.Do Web3 tasks: Complete special tasks related to the sepecific projects (Web3 Quests) to earn points. 
4. More points, better rewards : The Binance app have a Megadrop section. There, you can find Web3 Quests to complete and earn a bonus on your points.
5. The higher your score, the bigger your reward: The total points you earn will determine how much you get rewarded through Megadrop.

☄️ How to create a Binance Web3 Wallet?
1. Download the Binance app, if you haven't already.
2. Log in to your Binance app.
3. Tap on "Wallets".

4. Navigate to the "Web3" tab at the top.

5. Tap "Create Wallet" and make sure you have backup verified.

⚡ How To Do Web3 Quest? 
1. Go to MegaDrop Section In your Binance app. You can Find it "More" Section or you can just search it on search Bar. 

2. You'll see Ongoing MegaDrop event. Click on that. We using Bouncebit For the example. 

3. Scroll Down you'll see "Web3 Quest & BNB Locked Options" . Click on that and you'll get a specific task to complete. 

4. Don't worry, there's always tutorial for Quest. 

💊 How Binance Will Calculate Your Reward ?
1. Megadrop reward per qualified user will be based on the user’s Total Score in proportion to the Total Scores by all qualified users. 
2. Locked BNB Score: Users will receive a score based on the quantity of BNB subscribed and the length of the subscription period. Longer subscriptions yield higher scores. This score may fluctuate as it is based on averages from daily snapshots. 

3. Web3 Quest Bonus and Web3 Quest Multiplier: Users will receive a Web3 Quest Bonus and a Web3 Quest Multiplier when they complete all the designated Web3 Quests with the minimum requirements specified. 
4. The system will calculate users’ Total Score by applying the Web3 Quest Multiplier to their total Locked BNB Score and then adding the Web3 Quest Bonus.
5. Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus. 
🔸Locked BNB Score (based on hourly snapshots during the BNB Locked Products Snapshot Period) = (Average 120-day BNB Locked Amount x 130) + (Average 90-day BNB Locked Amount x 120) + (Average 60-day BNB Locked Amount x 110) + (Average 30-day BNB Locked Amount x 100) 
🔹Web3 Quest Multiplier: 1.5x
🔸Web3 Quest Bonus: 1,000

🔆 How MegaDrop Different From Launchpool ?

Megadrop: Focuses on early access to new tokens from Web3 projects before they are listed on Binance.
Launchpool: Can offer early access to both new and existing tokens.
🔬 Participation :
Megadrop: Users participate by subscribing their BNB to Binance Earn Locked Products and completing Web3 tasks.
Launchpool: Users participate by subscribing their BNB to Binance Earn Locked Products, BNB Vault, or locking other tokens directly into the Launchpool platform
🔬 Rewards :
Megadrop: Points are earned through a combination of BNB locked points, Web3 Quest coefficient, and rewards from Web3 Quests. Higher points lead to better rewards.
Launchpool: Rewards are typically distributed based on the amount of tokens a user locks for a set period.
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The Joining Process is the Actual offical post from Binance, the article is represented here just for information purposes. Names are taken only for information not for any investment purposes 
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#Binance #megadrop #Web3Wallet