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Binance Launches Megadrop for Early Web3 Rewards with BNB and Quests

Published 18/04/2024, 20:33
Binance Launches Megadrop for Early Web3 Rewards with BNB and Quests

Coin Edition -

  • Binance Megadrop merges airdrops and Web3 quests, offering early access to Web3 projects through interactive experiences.
  • Participation in Megadrop requires identity verification and a Binance Web3 Wallet, with updates based on daily data.
  • Megadrop rewards are calculated based on users’ Total Scores, encouraging longer BNB subscriptions and active quest completion.

Binance is set to disrupt the token launch landscape with the introduction of Binance Megadrop, an innovative platform integrating airdrops and Web3 quests. The platform aims to offer users early access to promising Web3 projects, starting with BounceBit (BB), a BTC restaking chain.

Binance Megadrop, positioned as an interactive experience, combines Binance Simple Earn with the Binance Web3 Wallet. It allows users to subscribe to Locked Products with BNB and complete tasks within their Web3 Wallet to unlock rewards from selected projects before their tokens hit the Binance Exchange.

Furthermore, users can kick start their journey on Binance Megadrop by ensuring they have an active Binance account with a Web3 Wallet. Subscribing to BNB Locked Products on Simple Earn and completing designated Web3 Quests will earn them scores, which ultimately determine their rewards.

The scoring system is multifaceted and users receive scores based on their BNB subscription quantity and duration, with longer subscriptions yielding higher scores. Additionally, completing Web3 Quests triggers a Web3 Quest Bonus and Multiplier, augmenting their Total Score.

Megadrop rewards, proportional to users’ Total Scores relative to all qualified users, will be airdropped to their Binance Spot Wallets. It’s worth noting that only wallets created within the Binance Web3 Wallet are eligible for participation.

Users who wish to qualify for Megadrop rewards must complete identity verification and possess an active Binance Web3 Wallet. Snapshots of users’ BNB Locked Products subscriptions will be taken several times each hour to determine their hourly average subscriptions, which will then be used to calculate their rewards. These rewards will be updated daily based on the collected data.

Moreover, as the inaugural project on Binance Megadrop, BounceBit (BB) introduces a novel approach to BTC restaking, with a maximum token supply of 2.1 billion BB. A significant portion, 8% of the max supply, totaling 168 million BB, will be allocated as Megadrop token rewards.

The post Binance Launches Megadrop for Early Web3 Rewards with BNB and Quests appeared first on Coin Edition.

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