Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests

IMPORTANT: Binance will be the first platform to list the token mentioned herein. The trading start time will be announced in a separate announcement. Any claims to offer this token for sale before the stated timeline are false advertising. Please do your own research to ensure safety of your funds.

This is a general announcement. Products and services referred to here may not be available in your region.

Fellow Binancians,

Binance is launching Binance Megadrop, a new token launch platform with airdrops and Web3 quests, where users can subscribe BNB to Locked Products and/or complete tasks in their Web3 Wallet for early access to rewards from selected Web3 projects before their tokens are listed on the Binance Exchange.

The first project to be introduced on Binance Megadrop will be BounceBit (BB), a BTC restaking chain. 

BounceBit Megadrop Details:

• Token Name: BounceBit (BB)

• Max Token Supply: 2,100,000,000 BB 

• Megadrop Token Rewards: 168,000,000 BB (8% of max token supply)

• Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply)

• Research Report: BounceBit (BB) (which will be available within 1 hour of publishing this announcement)

More details on the Megadrop amount, Web3 Quests, and detailed listing plan will be announced in a separate announcement soon.

What is Binance Megadrop:

Binance Megadrop is a new token launch platform that seamlessly integrates Binance Simple Earn and the Binance Web3 Wallet, reinventing users' airdrop experience. Megadrop grants users early access to select Web3 projects before they are listed on Binance.

This unique combination of engagement, education and rewards positions Megadrop as an unparalleled interactive experience within both Binance and the broader crypto ecosystem.

How to Get Started with Binance Megadrop:

• Log into your Binance account.

• Subscribe to BNB Locked Products and/or complete Web3 Quests to accrue scores. To complete Web3 Quests, make sure you have at least one active Binance Web3 Wallet. Register for a Binance account and create your first Web3 Wallet now if you have not yet done so.

• Complete subscriptions to BNB Locked Products on Simple Earn to accrue scores. 

• Go to Megadrop on the Binance App (coming soon) and complete all the designated Web3 Quests to accrue scores and obtain a score multiplier.

• Receive Megadrop rewards based on your Total Score.

Score-Based Megadrop Mechanism: 

• Megadrop reward per qualified user will be based on the user’s Total Score in proportion to the Total Scores by all qualified users. 

• Scoring System:

  • Locked BNB Score: Users will receive a score based on the quantity of BNB subscribed and the length of the subscription period. Longer subscriptions yield higher scores. This score may fluctuate as it is based on averages from daily snapshots.

  • Web3 Quest Bonus* and Web3 Quest Multiplier: Users will receive a Web3 Quest Bonus and a Web3 Quest Multiplier when they complete all the designated Web3 Quests with the minimum requirements specified. 

  • The system will calculate users’ Total Score by applying the Web3 Quest Multiplier to their total Locked BNB Score and then adding the Web3 Quest Bonus.

    • Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus

 * If users do not finish all designated Web3 Quests, the multiplier will be 1. 

Users may refer to the FAQ for more details.

Update on BNB Locked Products

• In anticipation of Megadrop events in the future, Binance has updated the APRs and increased the maximum subscription limits per user for BNB Locked Products, as per the table below.

• There will be a cap applied to the total BNB Locked Products subscription amount used in calculations of Locked BNB Score in all Megadrop events. More details will be provided in a separate announcement.

• For each Megadrop, users will receive different scores for each active BNB Locked Products subscription they have, based on the length of the corresponding subscription period. The longer the duration, the higher your Locked BNB Score.

• Subscribing to BNB Locked Products will allow users to accrue scores for Megadrop. Please note that BNB Vault assets do not count toward the score calculation for Megadrop events.

• Users who are participating in Megadrop by locking their BNB with Locked Products, will also receive Launchpool rewards at the same time. Users are not required to manually redeem their BNB assets from BNB Locked Products to participate in Launchpools. 

• Users may refer to Frequently Asked Questions on Megadrop and BNB Locked Products for more information.

Notes: 

• External wallets imported to Binance Web3 Wallet will not count. 

• Only backed-up wallets that are created in Binance Web3 Wallet may participate in Megadrop. 

• Users may go to the Megadrop project page (the page will be available in the second announcement) to check if a quest is completed successfully. 

• Megadrop rewards will be airdropped to users’ Binance Spot Wallets.

BounceBit (BB) Project Links:

• Website

• Whitepaper

• X

• Medium

Further Information: 

• What Is Binance Megadrop

• What Is Binance Web3 Wallet and How Does It Work

• How to Back Up Your Binance Web3 Wallet

Terms & Conditions:

• Only users who complete identity verification and hold at least one active Binance Web3 Wallet may qualify for Megadrop rewards.

• Snapshots of users’ BNB Locked Products subscriptions will be taken multiple times at any point of time each hour to get users’ hourly average subscriptions and calculate user rewards. User rewards will be updated on a daily basis.

• Users need to be from an eligible jurisdiction to participate in BB Megadrop. Currently, users residing in the following countries or regions will not be able to participate by subscribing to BNB Locked Products or completing Web3 Quests: 

  • For Simple Earn BNB Locked Products participants: Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan,  New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.

  • For Web3 Quests participants: Australia, Brazil, Canada, Cuba, Crimea Region, Cyprus, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.

  • Please note that the list of excluded countries provided here is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations. This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.  

• Binance may at its sole and absolute discretion impose upper limits to the amount of rewarded tokens.

• Please refer to Binance Simple Earn Terms of Use prior to using BNB Locked Products on the Binance Simple Earn platform. Users may also view the FAQ on Simple Earn Locked Products for more information.

• There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.

Thank you for your support!

Binance Team

2024-04-18

Note: This announcement was updated 2024-04-18 to include an update on BNB Locked Products.

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Binance reserves the right to choose markets and jurisdictions to conduct Megadrop and may restrict or refuse the participation of Megadrop in certain regions at our sole discretion. Binance does not guarantee that you will receive any specific reward, or any return over time. Your eligibility to receive tokens or participate in the Megadrop is subject to our sole discretion. Not financial advice. For more information, see our Terms of Use and Risk Warning. You may be subject to the terms of Simple Earn and Binance Web3 Wallet.