Binance has launched its first MegaDrop, featuring BounceBit ($BB) as the initial project. This exciting new platform combines airdrops and quests to form a loyalty program tailored for Web3 enthusiasts, offering early access to token launches and the potential for rewards.
What is BounceBit?
BounceBit utilizes a blend of Decentralized Finance (DeFi) and Centralized Finance (CeFi) in a CeDeFi architecture, enabling Bitcoin (BTC) holders to invest their holdings for potential returns. Key features include:
1. Bitcoin Restaking: Users can reinvest Bitcoin to earn additional rewards.
2. CeDeFi Approach: Combining DeFiâs transparency and returns with CeFiâs user-friendly interface offers the best of both worlds.
Participating in Binance MegaDrop
To participate in Binance MegaDrop:
âą Go to the Binance homepage, search for âMegaDrop,â and click on the result to open the MegaDrop portal.
âą You will see two main options: Lock BNB and Complete Web3 quests.
Benefits of Locking BNB:
By locking your BNB, you can join Binanceâs Launchpool and MegaDrop programs simultaneously, increasing your chances of earning rewards. Locking BNB for 120 days yields a 1.49% reward.
Web3 Quests:
âą Start by creating a Binance Web3 wallet.
âą Deposit 0.000111 BTCB in the BounceBit dApp, making sure to have BNB available for the gas fee.
âą Return to MegaDrop to verify your completed quest and potentially earn rewards.
MegaDrop Details
âą Event Period: April 26 to May 12, 2024, ending at 23:59 UTC.
âą Reward Distribution: Rewards will be distributed on May 13, 2024.
âą Trading of $BB: Starts at 10:00 UTC on May 13, 2024.
âą Token Allocation: 168 million BB tokens, or 8% of the total 2.1 billion supply, are dedicated to MegaDrop rewards.
Useful Links
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