Cryptocurrency exchange Binance today announced a new platform, airdrop, and listing announcement. Accordingly, Binance is launching Binance Megadrop, a new token launch platform that features airdrops and Web3 tasks that users can participate in before the tokens are listed on Binance. The first project to be introduced on Binance Megadrop will be BounceBit (BB), a BTC restaking chain.
Details on the BounceBit Megadrop
Cryptocurrency exchange Binance provided the following details about the BounceBit Megadrop:
- Token Name: BounceBit (BB).
- Maximum Token Supply: 2,100,000,000 BB.
- Megadrop Token Rewards: 168,000,000 BB (8% of maximum token supply).
- Initial Circulating Supply: 409,500,000 BB (19.5% of maximum token supply).
What is Binance Megadrop?
Binance Megadrop is a new token launch platform that reinvents the airdrop experience by seamlessly integrating Binance Simple Earn and Binance Web3 Wallet. Megadrop offers users early access to certain Web3 projects before they are listed on Binance.
This unique combination of interaction, education, and rewards positions Megadrop as a unique interactive experience within both Binance and the broader crypto ecosystem.
How to Get Started with Binance Megadrop?
You need to log into your Binance account and make sure you have at least one active Binance Web3 Wallet. You must register for a Binance account and create your first Web3 Wallet now if you haven’t done so already.
To earn points, you need to subscribe to BNB Locked Products and/or complete Web3 Tasks. It is also important to complete subscriptions to BNB Locked Products in Simple Earn to earn points. Afterwards, you will receive Megadrop rewards based on your total points.
Point-Based Megadrop Mechanism
The Megadrop reward per qualified user will be based on the user’s Total Points proportional to all qualified users’ Total Points. The Scoring System will be as follows:
- Locked BNB Score: Users will receive a score based on the amount of BNB they hold and the duration of this holding. Longer subscriptions will yield higher scores. This score will vary as it is based on averages from daily snapshots.
- Web3 Task Bonus and Web3 Task Multiplier: Users will receive a Web3 Task Bonus and a Web3 Task Multiplier upon completing all designated Web3 Tasks with the specified minimum requirements.
The system will calculate users’ Total Points by applying the Web3 Task Multiplier to the total Locked BNB Score and then adding the Web3 Task Bonus. The relevant formula will be:
- Total Points = (Locked BNB Score * Web3 Task Multiplier) + Web3 Task Bonus
If users do not complete all designated Web3 Tasks, the multiplier will be 1. Megadrop rewards will be sent to users’ Binance Spot Wallets.
