Key Takeaways

Binance Megadrop is a platform that combines Binance Simple Earn and Web3 Wallet to offer early access to token projects before they are listed on the Binance exchange.

Binance Megadrop is set to enhance the overall user experience and foster engaged innovation in the blockchain space.

Introduction

Binance Megadrop is a platform that allows users to participate in token launches and airdrops. It integrates the Binance Simple Earn and the Binance Web3 Wallet, offering users early access to Web3 projects and opportunities to earn rewards through engaging activities.

What Is Binance Megadrop?

Binance Megadrop is a token launch platform that combines elements of Binance Simple Earn and the Binance Web3 Wallet to create an innovative airdrop experience. The platform is designed to provide users with early access to new token projects and a variety of ways to earn rewards. With Binance Megadrop, users can subscribe to fixed-term products, complete Web3 quests, and receive token rewards proportional to their accumulated scores.

Key Features of Binance Megadrop

Early access to token projects

One of the main features of Binance Megadrop is giving users early access to selected Web3 projects before their official listing on the Binance exchange. This allows users to get involved in promising projects at an early stage, potentially benefiting from future growth and development.

Integration with Binance Simple Earn

Binance Megadrop is closely integrated with Binance Simple Earn, a feature that allows users to earn rewards by locking their BNB in fixed-term products. By subscribing to these locked products, users accumulate points that determine their reward allocation in the Megadrop program. The longer the lock period and the more BNB locked, the higher the score and potential rewards.

Engagement through Web3 quests

Another significant aspect of Binance Megadrop is the inclusion of Web3 quests. These quests are designed to engage users and encourage them to learn more about the blockchain ecosystem. By completing tasks within their Binance Web3 Wallet, users can boost their scores and earn additional rewards.

Reward Distribution

The rewards in Binance Megadrop are distributed in the form of new tokens from the projects featured on the platform. The inaugural project, BounceBit (BB), is a BTC restaking chain that allows users to earn a portion of its token supply as rewards. For BounceBit, 168 million BB tokens, equivalent to 8% of the maximum token supply, will be allocated to Binance Megadrop participants.

How Binance Megadrop Works

Step 1: Lock BNB to Earn Points

To participate in Binance Megadrop, users need to lock their BNB in fixed-term products available on Binance Simple Earn. The points earned are based on the quantity of BNB locked and the length of the subscription period. Longer lock periods and larger amounts of BNB result in higher scores, which translate into higher reward allocations.

Step 2: Complete Web3 Quests

Users can further boost their scores by completing Web3 quests. These quests are available on the Binance Megadrop page, where users can find detailed instructions and tutorials on how to participate. Completing these tasks not only increases the user’s score but also enhances their understanding of the blockchain ecosystem.

Step 3: Earn Rewards

Based on the accumulated scores from locking BNB and completing Web3 quests, users receive token rewards from the featured projects. These rewards are distributed proportionally to the user’s score, providing an incentive to actively participate in both aspects of the Megadrop program.

Benefits of Binance Megadrop

Exclusive Early Access

Binance Megadrop offers users the advantage of accessing new token projects before they are listed on the Binance exchange. This early access can be highly beneficial for users looking to invest in promising projects at an early stage.

Engaging and Educational

The inclusion of Web3 quests adds an element of engagement and education to the platform. Users are encouraged to learn more about blockchain technology and the projects they are investing in, enhancing their overall understanding and involvement in the crypto space.

Reward Opportunities

By combining the benefits of Binance Simple Earn and Web3 quests, Binance Megadrop provides multiple avenues for users to earn rewards. This diversified approach ensures that users can maximize their earnings through active participation.

How to Participate in Binance Megadrop?

1. Log in to your Binance account on your mobile app and find the [Megadrop] icon. If you can’t see it, go to [More Services] first.

2. Next, you will see the selected Web3 projects. You can navigate each project’s page for more information about its participation period, quests, reward distribution, coin listing time, tokenomics, etc.

3. If a project is available, you can complete different quests to earn points and get rewards based on your score.

4. Each project may have a different set of quests. For example, you can earn points by subscribing your BNB to Simple Earn’s products or by connecting your Binance Web3 Wallet to the project.

Binance Megadrop vs. Launchpool

While both Binance Megadrop and Launchpool are token launch platforms, they have some key differences regarding subscription, reward calculation, and types of projects. 

Subscription

Binance Megadrop: users participate by subscribing their BNB to Binance Earn Locked Products and completing custom Web3 quests.

Binance Launchpool: users participate by subscribing their BNB to Binance Earn Locked Products, BNB Vault, or by locking other tokens into the Launchpool platform directly.

Rewards

Binance Megadrop: based on the subscription volume and lock duration. Reward boost is available through Web3 quest completion.

Binance Launchpool: based on Launchpool subscription volume. There are no reward boosts.

Project types

Binance Megadrop: new tokens only.

Binance Launchpool: both new and existing tokens.

Closing Thoughts

Binance Megadrop combines the features of Binance Simple Earn and the Binance Web3 Wallet to create a unique and engaging token launch platform. By offering early access to new token projects, engaging users through Web3 quests, and providing multiple reward opportunities, Binance Megadrop is set to enhance the overall user experience and foster engaged innovation in the blockchain space.

Further Reading

Your Guide to Binance Spot Trading

A Beginner’s Guide to Binance Earn

Your Guide to Binance Launchpad and Launchpool

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Key Takeaways

Binance Launchpad and Launchpool offer users diverse opportunities in the crypto space, from early access to innovative projects to earning rewards.

The Binance token launch platform provides a secure environment for both projects and users interested in joining crypto crowdfunding events.

The platform’s holistic support includes initial token issuance as well as guidance from Binance’s listing and investment teams.

Introduction

Binance Launchpad and Binance Launchpool are both part of Binance’s token launch platform. These platforms are designed to foster innovation by providing support to aspiring and existing blockchain projects.

Binance is constantly looking for strong crypto teams with a unique and innovative vision. Its token launch platform offers a full range of offerings, from advisory services during token issuance and launch to post-listing and post-launch marketing.

In this guide, we will cover what Binance Launchpad and Launchpool are, their differences, potential benefits, and how you can get involved as a user or project team.

Binance Launchpad: Pioneering Crypto Crowdfunding

Before Binance Launchpad, it was common for blockchain projects to raise funds and launch their tokens via independent crowdfunding events, known as Initial Coin Offerings (ICOs). However, this old school crowdfunding approach was often marked with technical failures, fraud, and a serious lack of user protection.

In 2019, Binance Launchpad was created, pioneering the concept of Initial Exchange Offering (IEO). The introduction of IEOs on Binance Launchpad caused an important paradigm shift in the crypto crowdfunding space, benefiting both blockchain projects and their supporters. Since then, projects have been able to raise funds, and users can support these projects in a safer and more convenient way.

The Differences Between Binance Launchpad and Binance Launchpool

Binance Launchpad and Binance Launchpool have similar goals and are part of the same Binance token launch platform. However, there are important differences between the two.

Binance Launchpad was created in 2019 to introduce a new method for crypto crowdfunding. Binance Launchpool was introduced in 2020, allowing users to lock their assets to get new assets in return.

What Is Binance Launchpad?

As we’ve learned, Binance Launchpad is the pioneering platform for Initial Exchange Offerings (IEOs). Launchpad allows users to purchase new tokens as part of an IEO. It has revolutionized crypto crowdfunding by providing a secure and efficient means for transformative blockchain projects to raise capital.

Binance Launchpad prioritizes user and project protection, offering top-notch security during token sales and eliminating the need for projects to create their fundraising platforms, reducing susceptibility to attacks. It facilitates growth for deserving projects by providing exposure to millions of global users, ensuring world-class liquidity and multiple trading pairs post-launch.

In addition, the platform's holistic support includes initial token issuance as well as guidance from Binance's listing and investment teams, which carefully evaluate Launchpad applications. With Launchpad, crypto projects benefit from token launches within a trusted platform, leveraging Binance's status as the world's leading exchange to access a vast community of crypto holders and investors.

Binance Launchpad benefits

Early access to innovative projects

Safe token launch environment

Global exposure

Fair token distribution

World-class market liquidity

Professional guidance and support

What Is Binance Launchpool?

Binance Launchpool enables crypto holders to lock their assets to earn new tokens. Unlike Binance Launchpad, which primarily involves token purchases, Launchpool allows users to receive new project assets by locking BNB and other supported tokens at no cost.

There are multiple benefits to participating in Binance Launchpool. First, the process of earning new tokens is very simple: you lock tokens with Binance and get rewarded with new tokens. The rewards are proportional to your subscription amount and the Launchpool period.

Binance Launchpool offers flexibility in earning tokens, allowing users to receive accrued rewards at any time and to unlock funds at their discretion. Also, the platform extends Binance's support to projects featured on Launchpool, offering advisory services, community engagement, and marketing reach. 

Binance Launchpool benefits

Earn from locking assets. No purchase is required.

Flexibility and control.

Early access to innovative projects.

Safe token launch environment.

Global exposure.

Fair token distribution.

World-class market liquidity.

Professional guidance and support.

How to Access Binance Launchpad and Launchpool

1. Log in to your Binance account and find [Launchpad & Launchpool] at the top menu.

2. Next, you will see Binance’s Token Launch Platform page. The first section will show upcoming or active token sales (if any).

3. If you scroll down further, you will see the Launchpad section.

4. You can click [View More] to see all previously launched projects and their respective data. This will take you to a separate landing page. 

You can switch from one section to another using the navigation buttons at the top.

How to Use Binance Launchpad

Binance Launchpad uses a subscription format. This means users have to commit a certain amount of BNB to the crowdfunding event (token sale). To join a Binance Launchpad token sale as an early supporter of the project, you have to hold some BNB in your Binance wallet and subscribe to the token sale during the subscription period.

Below is an example of a Launchpad token sale. The subscription period is closed, and the token sale is finished, but we can use the information as a reference. Notice that the token sale lasts a few days, from the BNB Holding Calculation Period to the Final Token Distribution.

This page also includes the project’s website, whitepaper, research report, detailed information about the sale rules, and an FAQ.

How to Use Binance Launchpool

Binance Launchpool allows users to acquire new token rewards by locking their existing cryptocurrency holdings. The locking is usually done in BNB or a stablecoin like FDUSD.

To participate, head to the Binance Launchpool page and find a project you want to support that is currently open for farming.

In this example, there are two farming pools, one for FDUSD and one for BNB. If you have both tokens, you can allocate your funds into different pools by clicking [Custom Allocation].

The total rewards, farming period, supported tokens, and APY estimate will vary from project to project. After locking your assets, you will start earning the project tokens. When the farming period is over, your locked assets and all earned rewards will be sent automatically to your Binance Spot account.

Closing Thoughts

Binance Launchpad and Launchpool are powerful tools for crypto enthusiasts, offering access to new projects, exclusive token launches, and opportunities to earn rewards. As Binance continues to innovate, users can navigate the crypto landscape confidently, leveraging these token launch platforms for growth and engagement.

Further Reading

Your Guide to Binance Spot Trading

What Is an Initial Exchange Offering (IEO)?

What Is an Initial Coin Offering (ICO)?

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Key Takeaways

Binance Pay allows users to seamlessly send, receive, and spend cryptocurrencies for everyday transactions in a secure, contactless, and borderless manner.

With support for over 80 cryptocurrencies, including Bitcoin, Ethereum, and stablecoins, users have a wide array of options for making payments or receiving funds.

Binance Pay offers numerous benefits including convenience, cost-effectiveness, global reach, and advanced security features for both individual users and merchants.

What Is Binance Pay?

Binance Pay is a payment technology that allows users to seamlessly send, receive, and spend cryptocurrencies. It offers secure, contactless, and borderless payment solutions that are perfect for everyday transactions. In this article, we'll explore the key features, benefits, and step-by-step guide on how to use Binance Pay.

Introduction

Binance Pay is bridging the gap between cryptocurrencies and real-world transactions. It enables users and merchants to seamlessly integrate crypto into their daily lives, making it easier than ever to pay for goods and services, split bills with friends, or even book a hotel using digital assets.

One of the key advantages of Binance Pay is its versatility. It supports over 80 different cryptocurrencies, including Bitcoin, Ethereum, BNB, and stablecoins like USDT, USDC, and FDUSD. This wide range of supported assets ensures that users have ample choices when making payments or receiving funds.

Binance Pay is only available to eligible users in supported countries that have completed the identity verification process.

How Binance Pay Works

Binance Pay is easy to set up and use. Users can generate QR codes or payment links to request crypto payments, while payers can scan these QR codes or use the provided links to make payments. This process eliminates the need for traditional payment methods, such as credit cards or bank transfers, making transactions faster, more secure, and cost-effective.

Setting Up Binance Pay

To get started with Binance Pay, users need to have a Binance account and complete the identity verification process – also known as Know Your Customer (KYC) verification. Once verified, users can access Binance Pay through the Binance app or website.

Step 1: Register on Binance

Head over to the Binance app or website and create an account if you don't have one already. You'll need to enter your email address and set up a secure password.

Step 2: Complete KYC Verification

To use Binance Pay, you must complete the KYC verification process. This involves providing personal information and submitting identification documents for security purposes.

Step 3: Access Binance Pay

After completing the KYC process, you can access Binance Pay through the Binance app or website. 

Binance app

On the app, tap the Binance Pay icon on the top right corner of the homepage or go to [Wallets] → [Funding] → [Pay].

Website

On the website, log in to your account and go to [More] → [Pay] at the top menu.

Step 4: Set Up Your Binance Pay Account

If it's your first time using Binance Pay, set up your account by creating a nickname and a secure Pay PIN. This PIN will be used to authorize transactions, so it's crucial to keep it safe. Do not share your PIN with anyone.

Making Payments With Binance Pay

Once your Binance Pay account is set up, you can start making payments in just a few simple steps.

1. The easiest way is to scan the recipient's Binance Pay QR code with your mobile camera.

Alternatively, you can use the [Send] button located at the Binance Pay interface and enter the recipient’s email, phone number, or Binance ID (UID).

2. Select the cryptocurrency and enter the amount you want to send. You can also add a personalized message for the recipient.

3. Review the payment details, including the recipient's information, the cryptocurrency, and the amount.

4. Confirm the payment by entering your Pay PIN or completing two-factor authentication (2FA).

5. The payment will be processed instantly, and you'll receive email and SMS notifications confirming the transaction.

Receiving Payments With Binance Pay

To receive payments with Binance Pay, you can provide one of the following to the payer:

Your Binance account registered email,

Your phone number,

Your Binance User ID (UID), 

Or your Binance Pay QR Code.

1. Via QR Code: Tap [Receive] on the Binance Pay interface to generate a unique QR code. Share this QR code with the payer, who can then scan it to send you cryptocurrency.

2. Via email, phone number, or UID: Provide one of them to the payer so they can use your details when making a payment via Binance Pay.

Benefits of Using Binance Pay

Binance Pay offers numerous benefits for both individual users and merchants:

For individual users

Convenience: Binance Pay allows you to easily send, receive, and spend cryptocurrencies for everyday transactions and payments, eliminating the need for traditional payment methods.

Cost-effective: Most Binance Pay transactions have zero fees, making it a cost-effective solution for peer-to-peer payments. Active users with higher transaction volume may have to pay fees after their monthly threshold is reached. In those cases, the fees will be displayed clearly to users before the payment is confirmed.

Borderless: Binance Pay is a global payment solution, enabling you to transact with users around the world.

Security: Binance Pay leverages advanced security measures, including two-factor authentication and secure encryption, to protect your transactions and personal information.

For merchants

Increased customer base: By accepting Binance Pay, merchants can tap into the growing community of cryptocurrency users and attract new customers.

Real-time payments: Merchants receive payments instantly, without the delays associated with traditional payment methods.

Low fees: Binance Pay eliminates the need for intermediaries, resulting in lower transaction fees for merchants.

Global reach: Merchants can accept payments from customers worldwide, expanding their potential customer base.

Dedicated support: Binance provides dedicated support to help merchants integrate and optimize Binance Pay for their businesses.

Closing Thoughts

Binance Pay is a revolutionary payment solution that empowers users to seamlessly integrate cryptocurrencies into their daily lives. With its user-friendly interface, a wide range of supported cryptocurrencies, and advanced security features, Binance Pay offers a convenient, cost-effective, and secure way to send, receive, and spend digital assets.

Further Reading

Your Guide to Binance Spot Trading

A Beginner’s Guide to Binance Earn

Your Guide to Binance Launchpad and Launchpool


Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.