Megadrop, announced on April 18, is a token launch platform that aims to enhance the airdrop experience for users by hosting airdrops and Web3 quests. This platform integrates the Binance Simple Earn program and the Binance Web3 Wallet, offering exclusive access to select Web3 projects before they are officially listed on the global exchange. The scores accumulated on Megadrop will be based on the amount of BNB locked and the duration of the lock for airdrops, whereas for Web3 quests, the score will be calculated based on the number of quests users complete.
Furthermore, certain multipliers will be applied when calculating the total scores. Users will earn rewards based on their total score, and these rewards will be available under the Megadrop section on the Binance app. Binance has announced BounceBit (BB) as the first project to launch on the Megadrop platform, allowing users to earn up to 8% of the token supply, which amounts to 168,000,000 BB tokens.
The launch of Megadrop is closely linked to Binance securing a full virtual-asset services provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). It is important to note that Zhao, the CEO of Binance, is currently awaiting sentencing following his settlement with the U.S. Department of Justice.