Binance Web3 wallet releases a big trick, what exactly is the new platform Megadrop?

1 months ago
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Whether Megadrop can match the popularity of Binance Launchpool remains to be seen.

Original | Odaily Planet Daily

Author | How to be a husband

Binance Web3 wallet releases a big trick, what exactly is the new platform Megadrop?

Yesterday, Binance announced that it will launch a new token issuance platform Megadrop, and announced that the first online project is the Bitcoin re-staking project BounceBit (BB). There have been many interpretations of the BounceBit project on the Internet, so I will not go into details here. For details, please see Binance Report: A Quick Look at BounceBit Project Highlights and Token Economic Model .

However, does the launch of the new platform Megadrop overlap with the functional attributes of Binances new coin mining, and how does the new platform Megadrop calculate user benefits? To this end, Odaily Planet Daily interprets the overview of the new platform and the deep meaning behind Binances launch of Megadrop.

Binance Web3 wallet is making efforts to become a new airdrop interaction platform

Binance Megadrop integrates Binance Simple Earn and Binance Web3 wallet to form a new token issuance platform. Similar to Binance Launchpool, it releases airdrop tokens for new projects, allowing users to complete tasks assigned by the corresponding project through Binance Web3 wallet and regularly lock BNB in Binance Simple Earn to count points, and calculate the airdrop rewards based on the points ratio.

The Megadrop points mechanism is that the proportion of a single users points to all eligible users determines the airdrop reward. The points system is as follows:

  • Purchase BNB: Users accumulate points by purchasing BNB regular products on Binance Simple Earn. The amount of points depends on the amount of BNB purchased and the length of the purchase period. The longer the purchase period, the more points you earn. It should be noted that the points may vary due to fluctuations in daily purchase volume, as the basis for point calculation is the average of daily snapshots.

  • Web3 Task Points: After users complete all designated Web3 tasks and meet the minimum task requirements, they will accumulate Web3 Task Points and receive corresponding multiplier bonuses.

  • Users final points = (locked BNB points * Web3 task multiplier) + Web3 task points

It is worth noting that the step of purchasing BNB is not mandatory, but if you do not purchase BNB and only complete the tasks, the number of airdropped tokens will definitely be relatively small. If you do not purchase BNB and the points you get are 0, then the Web3 task multiplier will have no effect. The official has not explained this in detail, and the specific details need to wait until the product is officially launched to be verified.

At present, the details of Binance Simple Earns BNB subscription product are as follows. The points obtained by different lock-up time and BNB amount are also different. The specific number of BNB points for subscription shall be based on the official data. The official reference is:

  • Lock BNB for 0 < n < 59 days, calculated using a 30-day integration factor;

  • Lock BNB for 60 ≤ n < 90 days, calculated using the 60-day integral factor;

  • Lock BNB for 90 ≤ n < 120 days, calculated using the 90-day integral coefficient;

  • If the BNB is locked for ≥ 120 days, the integral coefficient of 120 days will be used for calculation.

Binance Web3 wallet releases a big trick, what exactly is the new platform Megadrop?

So does the Megadrop platform conflict with Binance Launchpool? After all, both require BNB lockup. The official also explained this in detail. The two use different staking mechanisms. BNB users can participate in Launchpool while participating in Megadrop.

Binance launched Megadrop not only to provide a new income platform for platform users, but also to promote Binance Web3 wallet. To participate in Megadrop, users must have at least one active Binance Web3 account and complete the Web3 tasks assigned by the project from the wallet account interface, thereby using Binance Web3 wallet as an airdrop interaction platform to enrich wallet use cases. Currently, the Megadrop platform has not yet been launched. We will continue to update the details after it is officially launched.

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