Binance is excited to support the $16,000,000 SXP airdrop program to BNB holders on Binance.com announced by Swipe earlier today.
The Binance Ecosystem Reward program aims to provide greater access and awareness to projects within the Binance Ecosystem, of which Swipe is the first.
A total of 4,000,000 SXP tokens (~$16,000,000 based on today’s price) will be airdropped to BNB holders over a 12 week period and will be allocated weekly based on each Binance users’ average daily BNB holdings in each respective week.
Weekly SXP Distribution to BNB Holders on Binance.com
- Starting 2020/08/17 00:00 UTC, Binance will begin taking live snapshots of user BNB balances to calculate each users’ weekly average BNB holding amount held on Binance.com.
- Weekly average BNB holding amounts will be determined as the average of the 7 days, using the daily BNB calculation rules stated here.
- BNB holding distribution will be calculated as follows:
333,333.33 SXP rewards received by Binance each week * User BNB holdings ratio.
- Each User’s Weekly BNB holdings ratio = Each User’s Daily Average BNB holdings over each week / Daily Average of Total User BNB holdings held on Binance.com over each week.
- Users must hold a weekly average of at least 0.1 BNB or more in order to qualify these rewards.
- SXP rewards are calculated and distributed weekly. Distribution will be completed on Binance.com within 3 days of the end of each weekly period.
- Please note: The SXP distribution will be from the existing circulating supply and bought from the market, thus this program will not increase any circulating supplies.
- Users will be able to check receipt of their airdropped SXP via Account Center > Wallet > Distribution History.
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