Binance launched megadrop, a new token issuance platform.
Binance integrates the coin-earning financial product with the Web3 wallet to guide users to stake and lock BNB to obtain new token airdrops.
At the same time, guide users to experience its web3 products and gameplay, and pay attention in advance to Web3 projects that have not been officially launched on the platform.
Megadrop is a lock-up benefit for BNB holders and also a way to promote Binance web3 business. It is indeed an additional benefit for long-term BNB holders.
What are the benefits of participating in Megadrop?
Participating in Megadrop can get new token airdrops. The amount of airdrops is determined by BNB staking points and completed web3 task points.
Users can earn coins and manage their finances on Binance by purchasing BNB periodic products with fixed periods of 30, 60, 90, and 120 days. The longer the lock-up period, the higher the staking points will be.
You can also complete new token tasks on the web3 task page to earn points, and accumulate points to determine the airdrop amount.
In summary, staking and locking BNB can bring you triple benefits:
①BNB regular financial management APY income;
② Automatically participate in each BN launchpool new mining activity;
③Get the megadrop new token airdrop.
For long-term BNB holders, staking for regular financial management is a three-pronged approach, with multiple benefits gained from staking.
Megadrop's first project BounceBit:
How to participate in the Megadrop event?
Currently, the first project launched on Megadrop is BounceBit (BB), which is a public chain that is pledged with one BTC.
Users can stake BNB regularly, or complete BounceBit's web3 tasks to earn points, which correspond to future BB token airdrops.
The calculation method of Megadrop airdrop points is as follows:
User's final points = (locked BNB points * Web3 task multiplier) + Web3 task points
Locked BNB points (based on hourly snapshots during the BNB periodic product snapshot period) = (120-day average locked BNB amount x 130) + (90-day average locked BNB amount x 120) + (60-day average locked BNB amount x 110) + (30-day average locked BNB amount x 100).
On the Binance Finance page, subscribe to BNB regularly to automatically receive the benefits of Megadrop airdrops and launchpool mining.
The lock-up period is 30-120 days, and early redemption is possible during the period. After redemption, the assets will be returned to the spot wallet within 48-72 hours, but all accumulated earnings will also be recovered and deducted from the returned principal.
Binance earning and financial management entrance: Click
What are the risks of staking in Megadrop?
In 2024, many projects are doing staking airdrops, staking project tokens, and obtaining airdrops from the project itself or other projects.
Most of these projects are on-chain and relatively decentralized, but there may also be problems such as project running away and security vulnerabilities.
Staking and locking BNB on Binance means staking within the Binance platform. Based on the trust in the platform, the risk is relatively small. After all, the platform will not run away easily.
But everything has two sides, advantages and disadvantages are mutually transformed. Centralized platforms are safer, but also more dangerous.
Blockchain is decentralized, but exchanges are centralized platforms, and users also need to conduct KYC when trading on the platform and accept the platform’s risk control.
The biggest risk of Megadrop staking is whether Binance will run away/collapse? The probability of this is very low, after all, it is currently the top 1 exchange, but black swan events do exist, and nothing is absolute.
Some negative information may cause BNB to plummet or even be halved. Centralization relies too much on brands and platforms, which is also the biggest risk of holding BNB.
Of course, Binance has an excellent global team dedicated to promoting and developing blockchain and making great contributions to the crypto world.
The recent lawsuit between CZ and the U.S. Department of Justice has attracted the attention of the entire cryptocurrency community. The 161 letters to Judge Jones also show that many people support CZ and recognize his contribution to the crypto market. They hope that he can end the lawsuit as soon as possible and return to the crypto world.
For players who do not have the energy and ability to find high-quality projects, participating in Megadrop is also a good choice.
Currently, BNB is developing well and ranks top 4 in the global token market value. It has the team and strength to see more high-quality web3 projects. Standing on the shoulders of giants, we can avoid taking detours.
The current price of BNB is relatively high, which is also a huge investment cost.
There are many ways to play in the crypto market. Everyone will have a chance if you choose the one that suits you.
The above is just my personal opinion, not investment advice. I am Chuxiaolian, and I am paying attention to the crypto market and web3.
