Original author: shushu
Original source: Blockbeats
On April 18, Binance officially announced the launch of the token issuance platform Megadrop. Users can purchase BNB regular products and/or choose to complete project tasks in the Binance Web3 wallet, interact directly with the project party to obtain airdrop rewards. The first project to be launched on Megadrop is the BTC re-staking public chain BounceBit (BB).
The emergence of Megadrop not only enriches the gameplay of Binance IPO, but also brings more traffic, which is a win-win situation for Binance, BNB Holders and new projects. The advantage of Megadrop is that it seamlessly connects the Binance coin earning platform and Web3 wallet, which can provide users with a better airdrop experience. It can not only kill two birds with one stone, but also provide a very high-quality participation opportunity and experience for retail investors and even inexperienced chain rookies.
How to participate in the Megadrop platform
Currently, Megadrop has not been officially launched. According to the official website, Megadrop has two ways to participate, one is to lock BNB, and the other is to complete Web3 tasks. These two methods also cover a wide range of users from large to small.
Megadrop+Launchpool, BNB big holders kill two birds with one stone
Users can choose to purchase BNB regular products on the EarnCoin platform to accumulate points. Points will be accumulated based on the amount of BNB purchased for any BNB regular product and the length of the subscription period. The longer the subscription period, the higher the score, which is another kind of reward for BNB's staunch supporters. It should be noted that this score may fluctuate due to the average value based on daily snapshots.
In preparation for future Megadrop events, as shown in the figure below, Binance has currently updated the BNB fixed-term product interest rate and increased the maximum purchase limit of BNB fixed-term products for each user.
Users who hold BNB fixed-term products will automatically receive new coin mining rewards when participating in the Megadrop, without having to manually redeem and put them into Launchpool. In other words, they can kill two birds with one stone without taking any action.
Friendly to retail investors, getting rich through hard work is not a dream
The second way to participate is that users can use the Binance Web3 wallet to complete all designated Web3 tasks on the Megadrop project page to accumulate points and obtain point multipliers. On the task interface, you can also see the project’s participation period, reward distribution, and listing time.
It is worth mentioning that users who participate in the regular BNB subscription will get bonus points and more rewards by completing tasks. But even for retail investors who don’t have much BNB, they can get points and new coins by just completing tasks.
If you complete all the tasks, the basic task score will be increased by a certain percentage, and you will also receive additional bonus points. This approach also brings a wider range of usage scenarios to the Binance Web3 wallet. It should be noted that wallet addresses imported into the Binance Web3 wallet cannot participate. Only the backed-up wallets created in the Binance Web3 wallet can participate in the Megadrop.
When a new project's new launch cycle ends, the system will multiply the user's locked BNB points by the Web3 task multiplier, plus the user's Web3 task points, to calculate the user's final points. That is, the user's final points = (locked BNB points * Web3 task multiplier) + Web3 task points. Finally, the Megadrop reward will be obtained based on the final points. 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.
How is Megadrop different from Launchpool?
Now that we have introduced how to participate in Megadrop, let’s take a look at how it differs from Binance’s Launchpool mechanism.
As mentioned above, Megadrop requires locking BNB or completing tasks, but traditional new issuance can only choose to stake BNB or other designated tokens. In terms of reward calculation, Megadrop is calculated by the locked amount and lock-up time of BNB plus the completion of Web3 tasks; Launchpool rewards are calculated only by the staked amount and the staked market.
Therefore, for users participating in Megadrop, they can increase their rewards by completing more Web3 tasks, and BNB regular products participating in Megadrop can still participate in Launchpool, which is much more cost-effective.
However, the traditional Launchpool has more project options, while for Megadrop, only new projects can participate. However, before Megadrop's selected Web3 projects are listed on Binance, Megadrop users can get early experience opportunities.
The emergence of Megadrop has also made the concept of "new listing" more widely covered, which means injecting new vitality into Binance Web3 wallet and BNB itself, and having longer-term scenario empowerment. Previously, for retail investors who could not buy more BNB, participating in Launchpool was a very high threshold, but now through the Web3 task mechanism, it has truly achieved retail investor friendliness, which is bound to make Binance's Web3 wallet usher in higher usage.
In addition, new projects launched on Megadrop have the Binance listing guarantee. Through the Web3 task mechanism, more people can be encouraged to participate in the interaction of new projects. Megadrop has also made great contributions to the on-chain education of users.
