#BinanceJumble

Binance snapshot requirements?

A Binance snapshot, in the context of cryptocurrencies, is a record of the balances and status of all cryptocurrency addresses at a specific point in time on a blockchain network. It's like taking a moment's photo of the current state of the blockchain. Snapshots are used in various scenarios, including airdrops, Initial Exchange Offerings (IEOs), and token distributions.

Examples:

Airdrops:

Snapshots are taken to determine which users are eligible for airdrops of new tokens.

IEOs:

Snapshots are used to record the BNB balances of users participating in Initial Exchange Offerings on the Binance Launchpad.

Token distributions:

Snapshots can be used to distribute tokens to users who meet specific criteria.