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Binance debuts Megadrop platform with Web3 quests and airdrops

Published 18/04/2024, 12:30

Cryptocurrency exchange Binance is launching a novel token launch platform that combines airdrops and Web3 quests. 

Dubbed 'Megadrop', the platform enables users to subscribe BNB to Locked Products and/or complete tasks in their Web3 Wallet to access rewards from selected Web3 projects before their tokens are listed on the exchange. 

This setup builds on the model of Binance Launchpool by blending it with Web3 investments and allowing users to participate directly in the launch of new tokens from promising projects.

Available globally from today, the inaugural project on Binance Megadrop is a BTC restaking chain called BounceBit (BB). 

The launch of Megadrop is part of Binance's strategy to expand its operations amid the current bull market. This move contrasts with some of Binance's peers who focus solely on exchange services and may not be diversifying their offerings as aggressively.

“Over the past few years, we’ve seen many incredibly exciting Web3 projects emerge within the crypto space, highlighting how central innovation and passion is within the community. With Megadrop, we’re really excited to be able to provide exposure for more of these projects to our global user base while offering Binance users a unique opportunity to gain rewards in the process,” said Rohit Wad, Chief Technology Officer at Binance.

Binance Megadrop integrates Binance Simple Earn and the Binance Web3 Wallet, offering users early access to select Web3 projects before their listing. This provides users with an interactive experience within the Binance ecosystem and the broader cryptocurrency community, the exchange says.

The platform is also designed to be user-friendly for both crypto novices and experienced traders. Users can engage in dApp quests, learn about emerging Web3 technologies, and earn rewards for their proactive involvement.

Megadrop also serves as a strategic launch platform for Web3 projects, giving them a serious boost in growth and visibility. This is perfect for new initiatives as it connects these projects directly with a global community of verified users, speeding up their entry into the blockchain scene.

Users interested in participating in Megadrop can get started by locking their BNB with Binance Earn and using the Binance Web3 Wallet to complete quests and earn exclusive token airdrops. 

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