- The popular cryptocurrency exchange Binance has revealed the Megadrop web3 quest platform and new airdrop.
- Megadrop, which debuted on April 18, is mainly a platform for launching tokens.
Through the integration of the Binance Simple Earn program and the Binance Web3 Wallet, it will also facilitate airdrops and Web3 quests. Making the airdrop experience more interesting for users is the aim, according to Binance.
Only a limited number of web3 projects are able to access the platform prior to their official listing on the global exchange. Users can accomplish this by either finishing Web3 quests and accruing points in their Binance Web3 wallet, or by locking their BNB holdings for a predetermined amount of time via its Locked product program.
The amount of BNB locked and the length of time it has been locked will determine the scores that are tallied from this. The quantity of quests customers complete will determine their score for Web3 quests. It should be remembered that specific multipliers will also be used in order to determine the final results.
Rewards will be given to users based on their overall score. The Megadrop portion of the Binance app will be where the incentives are made available.
The exchange stated in a blog post that Megadrop provides “an unparalleled interactive experience within both Binance and the broader crypto ecosystem” because of its “unique combination of engagement, education, and rewards.”
The first project to debut on the new platform is a Bitcoin restaking chain called BounceBit (BB), which was revealed by Binance. Megadrop users will be able to get up to 168,000,000 BB tokens, or 8% of the total token supply.
Following Binance’s acquisition of a complete virtual asset services provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), the launch took place shortly after. A year after the exchange started the third phase of the four-stage process in the country, it was approved.
Binance CEO Richard Teng stated, “As we obtain the prestigious full market VASP Licence, it significantly amplifies our unwavering commitment to advancing the financial landscape through compliance and innovation.”
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
