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What Is Binance Megadrop?

What Is Binance Megadrop?

2024-04-18 08:53

What is Binance Megadrop?

Binance Megadrop is a new token launch platform that seamlessly integrates Binance Simple Earn and the Binance Web3 Wallet, reinventing the airdrop experience. Megadrop grants users early access to select Web3 projects before they are listed on Binance.
This unique combination of engagement, education and reward positions Megadrop as an unparalleled interactive experience within both Binance and the broader crypto ecosystem.

Who can participate in Megadrop?

To participate in Megadrop, you must be from an eligible jurisdiction. Please refer to the Megadrop announcement for the list of restricted countries and regions.
For example, if you’re unable to use Binance Earn but can access Binance Web3 Wallet, you may still participate by completing Web3 quests. Similarly, if you’re unable to use Binance Web3 Wallet but can use Binance Earn, you may subscribe your BNB to Locked Products to accumulate score.
Please note that the list of excluded countries provided is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations. The list may be updated periodically to accommodate changes in legal, regulatory, or other factors.

How to access Binance Megadrop?

1. Log in to your Binance account and go to [More] - [Megadrop].
2. You’ll see a list of the selected Web3 projects. Tap on an ongoing project to enter its details page.
3. Under the [Quest] tab, you can complete different quests to earn points and get rewards.
You’ll also see the participation period, reward distribution, and coin listing time for the project.

How to earn points on Binance Megadrop?

There are different ways for you to earn points, such as subscribing your BNB to Simple Earn’s BNB Locked Products, or connecting your Web3 Wallet to a project. You may refer to the project page for the available quests.
Please note that subscribing to BNB Locked Products is not mandatory. You can participate in Megadrop without subscribing to any BNB Locked Products.

1. Lock BNB

1.1. Scroll down to the [Lock BNB] section. You’ll see the available subscription periods. Your score is determined by the quantity of BNB subscribed and the length of the subscription period. Longer subscriptions yield higher scores.
Please note that your score may vary due to daily subscription fluctuations. The score calculation is based on averages from daily snapshots.
The scores and multipliers below are for reference only. Please refer to the Megadrop project page for the actual scores and multipliers.
1.2. Tap [Subscribe] and you’ll be redirected to the BNB Simple Earn Locked Products page. Follow the instructions to subscribe your BNB to Locked Products.
1.3. You’ll see [Locked] after successfully completing this quest.

2. Complete Web3 quests

To participate in Web3 quests, you need to own a Binance Web3 Wallet. For more information, please refer to How to Manage My Binance Web3 Wallet?
2.1. You may earn points by completing the quests under [Complete Web3 Quests]. Below are some example quests. For the full list of available quests, please refer to the project page. To participate in a quest, tap [Earn Points].
2.2. Read the quest description and tutorial provided under [Quest Details]. Tap [Start Now].
2.3. Follow the instructions to complete the quest. Once done, tap [Verify] on the [Quest Details] page. The system will then confirm that you’ve successfully completed the quest.
2.4. Once verified, a [Task Completed] pop-up will appear, and you’ll see a [Completed] tag on the [Quest Details] page.
Tap [View Quest] to return to the project page.
You can view your quest status on the project page. Your score will be automatically calculated under [Reward Info].
Your score will be updated on the project page in real time. Please note that this score is not final and will fluctuate based on your daily locked BNB holdings and Web3 quest completion status.
After the participation period ends, the system will calculate your final score and distribute rewards to your Spot Wallet during the distribution period listed on the project page.
To check your Megadrop reward, go to [Wallets] - [Spot] in your Spot Wallet.

How is my total score calculated?

Your total score is calculated using the amount and duration of your locked BNB and Web3 quest completion. Your rewards are determined by your total score relative to the total scores of all other qualified users.
Megadrop Points Formula:
Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus

1. BNB locking

Your score is determined by the quantity of BNB subscribed and the length of the subscription period. The quantity of BNB subscribed will directly affect the score calculated in a linear way (X quantity of BNB would result in X quantity of score), with longer subscriptions yielding higher scores. Please note that your score may vary due to daily subscription fluctuations, as the calculation is based on averages from daily snapshots.
Depending on the lock duration you select in BNB Simple Earn Locked Products, your score will be calculated as 30, 60, 90, or 120 days.
Please note:
  • If you lock BNB for 0 < n < 59 days, your score will be boosted by the “30 Days” multiplier.
  • If you lock BNB for 60 ≤ n < 90 days, your score will be boosted by the “60 Days” multiplier.
  • If you lock BNB for 90 ≤ n < 120 days, your score will be boosted by the “90 Days” multiplier.
  • If you lock BNB for ≥ 120 days, your score will be boosted by the “120 Days” multiplier.
For example, if User A locked their BNB for 45 days, the system will calculate the lock duration as “30 days”, and User A’s score will be boosted by the “30 Days” multiplier.
Please note that each Megadrop may have a different multiplier for different locked durations.

2. Web3 quests completion

You can boost your score by completing Web3 quests. Completing all quests will boost your locked BNB score by a certain multiplier and earn you additional bonus points.

For example, if the score multiplier is “3” and your locked BNB score is 1,200, completing all quests will result in a total score of (1,200 * 3) + 50 = 3,650.

3. Megadrop BNB locked product snapshot amount calculation

The Megadrop BNB locked product snapshot amount is calculated based on the hours of locked BNB from UTC 00:00 to the next UTC 00:00. As a result, the snapshot amount may differ from your BNB locked amount if it has not been locked for the full 24 hours.

Calculation method:
  • Daily BNB Locked Snapshot Amount:
Daily BNB locked snapshot amount = (1st hour with BNB locked snapshot amount + 2nd hour with BNB locked snapshot amount +...+ 23th hour with BNB locked snapshot amount + 24th hour with BNB locked snapshot amount) / 24
If the user has not locked their BNB in the first and second hours, the BNB locked snapshot amount will be: (3rd hour with BNB locked snapshot amount + 4th hour with BNB locked snapshot amount +...+ 23th hour with BNB locked snapshot amount + 24th hour with BNB locked snapshot amount) / 24
  • Total BNB Locked Snapshot Amount:
The total BNB locked snapshot amount = Sum of all daily BNB locked snapshot amounts / Number of days from the start of the Megadrop BNB locked product snapshot to the calculation date
It is recommended that users lock their BNB before the snapshot time to maximize the locked BNB score.

Example:
The Megadrop BNB locked product snapshot is taken from 04/26/2024 00:00 UTC to 04/28/2024 23:59 UTC. A user had 10 BNB locked since 04/26/2024 12:00 UTC. The snapshot amounts are calculated as follows:
  • Daily BNB locked snapshot amount for 04/26 = (12:00 UTC BNB locked snapshot amount + 13:00 UTC BNB locked snapshot amount +...+ 23:00 UTC BNB locked snapshot amount + 24:00 UTC BNB locked snapshot amount) / 24 = (10 BNB * 12) / 24 = 5 BNB
  • Daily BNB locked snapshot amount for 04/27 = (00:00 UTC BNB locked snapshot amount + 01:00 UTC BNB locked snapshot amount +...+ 23:00 UTC BNB locked snapshot amount + 24:00 UTC BNB locked snapshot amount) / 24 = (10 BNB * 24) / 24 = 10 BNB
  • Daily BNB locked snapshot amount for 04/28 = (00:00 UTC BNB locked snapshot amount + 01:00 UTC BNB locked snapshot amount +...+ 23:00 UTC BNB locked snapshot amount + 24:00 UTC BNB locked snapshot amount) / 24 = (10 BNB * 24) / 24 = 10 BNB
  • Total BNB locked snapshot amount = (Daily BNB locked snapshot amount for 04/26 + Daily BNB locked snapshot amount for 04/27 + Daily BNB locked snapshot amount for 04/28) / 3 days (counting from 04/26 - 04/28) = (5 BNB + 10 BNB + 10 BNB) / 3 = 8.333 BNB

When are rewards distributed?

Your score will be updated on the project page in real time. Please note that this score is not final and will fluctuate based on your daily locked BNB holdings and Web3 quest completion status.
After the participation period ends, the system will calculate your final score and distribute rewards to your Spot Wallet during the distribution period listed on the project page.
To check your Megadrop reward, go to [Wallets] - [Spot] in your Spot Wallet.

What are the differences between Megadrop and Launchpool?

Frequently Asked Questions:

You can find your Megadrop rewards in your Binance Spot Wallet.
Yes. If you subscribe your BNB to Earn Locked Products, your locked BNB positions will be valid for both Launchpool rewards and Megadrop score calculation. Users are not required to manually redeem their BNB assets from BNB Locked Products to participate in Launchpools.
In the case where there are two Launchpools running simultaneously, the rewards for your BNB assets will be divided in half between the two Launchpools. However, your total BNB Locked Earn deposits will remain fully eligible for Megadrop rewards.
Yes, users who either subscribe to BNB Locked Products and/or successfully complete all Web3 Quest(s) via their Binance Web3 Wallet will still qualify to receive Megadrop rewards.
No, you can't. BNB Flexible assets do not count toward the score calculation for Megadrop events.
No, you can't. Users have to complete all the designated Web3 Quest(s), click on the [Verify] button at the Megadrop project page before the Quest Period ends to successfully obtain the Web3 Quest Bonus and Web3 Quest Multiplier.
No, external wallets imported to Binance Web3 Wallet will not count. Only wallets that are created and backed up in Binance Web3 Wallet are eligible to participate in Megadrop. For more details, please refer to Why Do I Need to Backup My Binance Web3 Wallet and How to Do It?
Yes, you can. However, any APR earned will be forfeited. The redemption period for your BNB will take anywhere from 48 to 72 hours. For more details, please refer to Frequently Asked Questions on Megadrop and BNB Locked Products.

Terms and Conditions

  • Only users who complete identity verification and hold at least one active Binance Web3 Wallet may qualify for Megadrop rewards.
  • Snapshots of users’ BNB Locked Products subscriptions will be taken multiple times at any point of time each hour to get users’ hourly average subscriptions and calculate user rewards. User rewards will be updated on a daily basis.
  • Please note that some features of Megadrop may not be available in every country due to regional restrictions. This includes, but is not limited to, Web3 Wallet access or participation in Simple Earn. Therefore it is possible that only some features of the Megadrop platform may be available in your region and you may have partial access to the Megadrop platform. Please contact customer service if you have any questions.
  • Users need to be from an eligible jurisdiction to participate in Megadrop. Currently, users residing in the following countries or regions will not be able to participate by subscribing to BNB Locked Products or completing Web3 Quests:
    • For Simple Earn BNB Locked Products participants: Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, Lithuania, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.
    • For Web3 Quests participants: Australia, Brazil, Canada, Cuba, Crimea Region, Cyprus, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.
    • Please note that the list of excluded countries provided here is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations. This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.
  • Binance may at its sole and absolute discretion impose upper limits to the amount of rewarded tokens.
  • Please refer to Binance Simple Earn Terms of Use prior to using BNB Locked Products on the Binance Simple Earn platform. Users may also view the FAQ on Simple Earn Locked Products for more information.
  • Users’ BNB locked with Locked Products will automatically qualify users to receive Launchpool rewards. Users are not required to manually redeem their BNB assets from BNB Locked Products to participate in Launchpools.
  • There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.