Binance Megadrop, a platform that gives users early access to Web3 projects before tokens are listed on the exchange.
The first project to launch on Megadrop is BounceBit (BB), a layer 1 blockchain focused on BTC staking that has been invested in by Binance Labs.
Below is some basic information about BounceBit
Token name: BounceBit (BB).
Maximum total supply: 2,100,000,000 BB.
Megadrop token reward: 168,000,000 BB (accounting for 8% of total supply).
Initial circulating supply: 409,500,000 BB (accounting for 19.5% of total supply).
Project analysis articleBounceBit
Brief analysis of Megadrop
Megadrop is a platform for launching new tokens through airdrops and performing web3 tasks, integrating the two features Binance Simple Earn and Binance Web3 Wallet.
By participating in the Megadrop, users can receive early access to rewards from selected web3 projects, before the tokens are listed on the Binance exchange.
This is a staking platform on the Bitcoin network, supporting the conversion of BTC to more flexible forms such as BTCB / WBTC, enabling BTC holders to participate in CeFi & DeFi to earn more profits
In addition to Binance Labs, the project previously called for 6 million USD in capital through 2 rounds from names such as OKX Ventures, NGC Ventures, Blockchain Capital,...
The listing date has not yet been announced
Megadrop and Binance Launchpool have some differences as follows:
How to participate: Megadrop allows users to participate by registering BNB and/or completing Web3 tasks. Binance Launchpool only allows users to participate by registering BNB or a specified number of tokens.
Token registration: Megadrop only uses BNB Locked Products for token registration. Binance Launchpool is more diverse as it allows users to register tokens using BNB Locked Products, BNB Vault or lock directly into Launchpool.
How rewards are calculated: Megadrop rewards are based on the amount of BNB the user has locked and the lock-up period, plus completion of the Web3 Quest. Binance Launchpool rewards are based on Launchpool registration volume.
Boost rewards: Megadrop allows users to boost their rewards by completing tasks in Binance Web3 Wallet. Binance Launchpool does not allow users to do this.
How to calculate points of Binance Megadrop
The user's total score is calculated based on BNB locked points, Web3 Quest coefficient, and rewards from Web3 Quest. Specifically, the formula for calculating the total score is as follows:
→ Total Points = (BNB Key Points x Web3 Quest Multiplier) + Web3 Quest Rewards
How to participate in Binance Megadrop
- Step 1: Register for a Binance accountthrough this link
→ Access the Binance app on your phone → search for "Megadrop"
You can see the list of Web3 projects
In the [Tasks] tab, you can complete various tasks to earn points and receive rewards.
- Step 2: Create Binance Web3 wallet
The web wallet is available on the Binance homepage - click [Add] - [Web3 Wallet]
The account linked to your wallet has passed KYC (remember to Backup your wallet)
- Step 3: Buy $BNB and $BTCB send to Binance Web3 wallet.
→ Select Transfer → and select $BNB or $BTCB → Withdrawl
Complete tasks in the Quest section to earn more points and receive rewards.
(This step is currently not available on the app, so I will guide you later)
- Step 4: Complete registration of BNB Locked Products on Earn feature to accumulate points.
Link https://www.binance.com/en/earn/simple-earn?asset=BNB
→ Access Earn Section → Simple Earn → Select BNB → Select Duration (Number of Lock Days) → Subscribe
- Step 5: Megadrop rewards will be airdropped to the user's Binance Spot Wallet.
Important notes:
- External wallets such as Metamask, Trustwallet, etc. imported into Binance Web3 Wallet will not be counted.
If you have any questions about how to do it, you can ask me. I wish you great success in this Megadrop project
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