Binance Launches Megadrop Platform for Airdrops and Web3 Quests

On April 18, Binance introduced Megadrop, a new airdrop and web3 quest platform aimed at enhancing the token launch experience for users. This platform integrates the Binance Simple Earn program and the Binance Web3 Wallet to offer exclusive access to select web3 projects before they are officially listed on the exchange.

How Megadrop Works:

– Users can participate in Megadrop by locking their BNB holdings for a specific period under the Locked product program or by completing Web3 quests to earn points in their Binance Web3 wallet.
– Scores are calculated based on the amount of BNB locked and the duration of the lock, as well as the number of quests completed by users. Multipliers may also be applied to calculate total scores.
– Rewards are distributed based on the total score earned by users and can be accessed through the Megadrop section on the Binance app.

BounceBit (BB), a Bitcoin restaking chain, is the first project to launch on Megadrop. Users can earn up to 8% of the token supply, which amounts to 168,000,000 BB tokens. This launch follows Binance’s recent acquisition of a full virtual-asset services provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), after successfully completing the licensing process.

Binance CEO Richard Teng commented on the license approval, emphasizing the exchange’s dedication to compliance and innovation in the financial landscape. The approval came after Binance co-founder Changpeng Zhao agreed to relinquish his voting rights for the local entity, as part of a settlement with the U.S. Department of Justice.

Megadrop offers an interactive experience that combines engagement, education, and rewards, making it a unique platform within the crypto ecosystem. Stay tuned for more updates on Binance’s Megadrop and other exciting developments in the cryptocurrency space.

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