Binance has announced its next major leap in the crypto industry, launching airdrops and Web3 quest platform Megadrop.
Binance, the largest cryptocurrency exchange in the world, announced its next significant move in the industry on Thursday: the launch of airdrops and the Web3 quest platform Megadrop.
In addition, BounceBit (BB), a chain that stashes BTC, is the first project to benefit from the initial introduction of the airdrop platform on Binance Megadrop.
Binance Introduces Megadrop
Binance announced in an official statement on April 18 that it has introduced Binance Megadrop, a new platform for the launch of tokens. By integrating Binance Simple Earn and the Binance Web3 Wallet, the platform enhances its users’ airdrop experiences.
With BNB, Megadrop grants users early access to select Web3 projects exclusively prior to their listing on Binance. The cryptocurrency exchange maintains that the platform serves as a bridge between education, reward, and engagement, thereby promoting Binance and the wider cryptocurrency ecosystem.
The Binance BounceBit (BB), a BTC restaking chain, has been launched by Megadrop as the inaugural initiative on the platform. Megadrop will distribute 8% of the token supply to users, or 168,000,000 BB tokens.
The maximum supply of BounceBit (BB) tokens is 2,100,000,000 BB. The initial supply in circulation was 409,500,000 BB or 19.5% of the maximum supply of tokens.
Binance will airdrop the project tokens after an extensive investigation. BounceBit facilitates the generation of income for Bitcoin holders from various sources by integrating the CeFi and DeFi frameworks.
The project has successfully constructed a BTC re-hypothecation infrastructure, which provides a foundational layer for various re-hypothecation products.
Binance in Action Ahead Bitcoin Halving
Amid the ongoing discourse surrounding the SEC lawsuit and the pre-halving Bitcoin price, Binance has managed to sustain its positive progress. Recently, Binance CEO Richard Teng stated that the cryptocurrency exchange is in constructive discussions and is weighing its options for a global headquarters.
In the interim, Binance Holdings has accomplished a noteworthy achievement by acquiring a complete Virtual Asset Service Provider (VASP) license in Dubai. The action was taken in response to co-founder Changpeng “CZ” Zhao’s strategic decision to renounce his voting rights in the local entity.
