Binance, the prominent cryptocurrency exchange, unveiled a fresh airdrop and web3 quest initiative called Megadrop.
On April 18th, Megadrop was introduced as a token launch platform focusing on organizing airdrops and quests within the Web3 realm by combining the features of Binance Simple Earn and the Binance Web3 Wallet. The objective, according to Binance, is to enhance the airdrop experience for users by making it more interactive.
On this platform, you have the opportunity to gain early access to chosen web3 projects that haven’t been publicly listed yet on major exchanges. You can accomplish this either by keeping your BNB tokens secured for a set duration through its Locked Product program or by finishing Web3 tasks and earning points in your Binance Web3 wallet.
how much BNB you’ve secured for long-term storage and for how long. For Web3 missions, your score is determined by the number of tasks you finish. However, additional boosters will influence the final tally of your points.
Users can collect rewards proportional to their overall points in the system. These rewards will then be accessible in the Megadrop tab of the Binance application.
In their blogpost, Binance described Megadrop as offering a distinct blend of interaction, learning, and incentives, making it a standout engaging experience not only on their platform but also in the larger crypto community.
At a recent announcement, Binance introduced BounceBit (BB), the initial venture on their new Bitcoin staking platform, which is a Bitcoin restaking chain. Users of Megadrop are eligible to receive as much as 8% of the total token supply, equivalent to 168 million BB tokens.
After obtaining a complete Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) last year, Binance is set to launch its operations. This approval came following the exchange progressing through the third stage of Dubai’s four-phase regulatory process.
“Obtaining the respected full market VASP License strengthens Binance’s dedication to enhancing the financial sector via compliance and innovation, according to CEO Richard Teng.”
Based on Bloomberg’s article, the approval was granted once Binance’s co-founder Changpeng Zhao surrendered his voting power for the local organization. Zhao is presently undergoing sentencing proceedings after reaching a deal with the US Department of Justice.
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2024-04-18 15:27