The world's largest cryptocurrency exchange Binance introduced a new platform called Megadrop. It aims to reimagine the experience of launching and distributing tokens among users

BNB holders who subscribe to Simple Earn products will have access to rewards from selected projects prior to their official listing on Binance. This is stated in the press release of the trading platform.

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A new level in user acquisition

The first project on Binance Magadrop will be BounceBit (BB), a Bitcoin re-staking protocol for BTCUSD. The total emission of BB is 2.1 billion tokens. Through Megadrop, the project will distribute 8% of the total coin reserve, or 168 million BB. Meanwhile, the initial offer will be 409.5 million BB.

Binance Megadrop allows you to subscribe to products with fixed terms for BNB. It works like this:

  • The user selects a locked product that the exchange offers. They are usually presented in a special section of the platform, where conditions are specified, including the minimum deposit period, interest rate, minimum and maximum deposit amount.

  • The user then signs up, agreeing to lock up a specified amount of BNB for a specified period of time.

  • After subscription, BNBUSD funds are blocked in the user's account. During this period, he cannot use the locked coins for other purposes.

Depending on the product conditions, users are awarded daily rewards. Usually - interest for blocking capital.

Through the new platform, Binance clients will also be able to participate in various Web3 quests. For completing certain activities in the cryptocurrency exchange wallet, they will be able to get early access to rewards from selected projects before their official listing on the trading platform.

Binance's latest initiative aims to create a more engaging user experience. It combines educational content with tangible rewards, thereby setting a new standard for user interaction in the crypto space.

Binance is committed to maintaining its status as an industry leader. Earlier, the BNB Chain ecosystem, which is backed by a crypto exchange, announced a competition for developers of memcoin projects with a prize pool of $1 million.