Binance, the biggest crypto exchange globally, took a significant step forward in the cryptocurrency sector on Thursday. They introduced “Megadrop,” their new airdrop and Web3 quest platform. As an initial implementation, “BounceBit (BB),” a Bitcoin staking chain, became the first project to use Megadrop for its airdrop launch.
Binance Launches Megadrop
On April 18, Binance made an announcement regarding the introduction of their latest token launch platform: Binance Megadrop. This new platform combines the features of Binance Simple Earn and the Binance Web3 Wallet, aiming to enhance airdrop experiences for users.
Through Megadrop, users are given the opportunity to gain access to select Web3 projects prior to their listing on Binance, utilizing BNB. Binance views Megadrop as an effective blend of interaction, instruction, and compensation, contributing to both Binance and the wider crypto community.
Binance Megadrop has introduced BTC restaking chain BounceBit (BB) as the first project on the platform. Users will get 8% of the token supply from Megadrop, accounting for 168,000,000 BB tokens. BounceBit (BB) has a max token supply of 2,100,000,000 BB. The initial circulating supply of 409,500,000 BB, which is 19.5% of the max token supply.
Binance will carefully examine each project before distributing their tokens via an airdrop. With BounceBit, Bitcoin owners can generate various income streams using both CeFi (Centralized Finance) and DeFi (Decentralized Finance) platforms. The company has established a Bitcoin re-hypothecation system, providing a solid foundation for diverse re-hypothecation offerings.
Binance in Action Ahead Bitcoin Halving
Amidst the ongoing chatter about the SEC lawsuit and Bitcoin’s price decrease prior to halving, Binance has been making noteworthy progress.Binance’s CEO, Richard Teng, announced recently that the cryptocurrency exchange is actively exploring potential headquarters and engaging in constructive talks with various countries.
Simultaneously, Binance Holdings achieved a notable accomplishment by securing a complete Virtual Asset Service Provider (VASP) license in Dubai. This action was taken as part of a well-thought-out plan led by co-founder Changpeng “CZ” Zhao, who gave up his voting authority in the local entity.
Binance is considering returning to markets like India, where they previously encountered regulatory challenges.
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2024-04-18 13:09