What is Binance Megadrop? Guide to Using Megadrop

What is Binance Megadrop?

Binance Megadrop is a platform introducing new tokens integrated seamlessly with Binance Simple Earn and Binance’s Web3 Wallet, redefining the airdrop experience. Megadrop provides users with early access to promising Web3 projects before they are listed on the Binance exchange.

The unique combination of interaction, education, and rewards makes Megadrop an excellent interactive experience within the cryptocurrency ecosystem, not only on Binance but across the entire crypto community. Megadrop opens doors for those interested in exploring and staying ahead of promising Web3 projects while benefiting from early participation.

Related: What is Binance? Binance Exchange Review 2024

Who Can Participate in Binance Megadrop?

Please note that to participate in Megadrop, you must have a Binance account and be from an eligible legal jurisdiction. Refer to the official Megadrop announcement for a list of restricted countries and territories.

For example, if you cannot use Binance Earn but have access to Binance’s Web3 Wallet, you can still participate by completing Web3-related tasks. Conversely, if you cannot access the Web3 Wallet but can use Binance Earn, you can register BNB investments in Locked Products to accumulate participation points.

Please note that the current list of excluded countries may not be exhaustive and will be regularly updated to comply with changes in laws, regulations, or other factors in different legal jurisdictions. Binance will continually review and adjust this list to ensure full compliance with regulations everywhere.

Register for a Binance account here.

How to Access Binance Megadrop

1. Log in to your Binance account and access the [More] – [Megadrop] section. Here, you’ll be guided into a unique space to explore and participate in potential Web3 projects.
2. The carefully selected Web3 projects will be displayed upfront. Start your adventure by tapping on the ongoing project to proceed to the detailed page and learn more information.
3. In the [Quest] tab, you’ll be presented with diverse and interesting challenges. Complete these tasks to accumulate points and receive rewards commensurate with your efforts.

Additionally, you can easily track your participation time, reward distribution schedule, and token listing timing for specific projects.

How to Earn Points on Binance Megadrop

There are various ways to earn points, such as registering your BNB into Binance Earn’s BNB Locked Products or connecting your Web3 Wallet to a project. You can refer to the project page for available tasks.

Lock BNB:

1. Scroll down to the [Lock BNB] section. You’ll see the current registration periods. Your points are determined by the amount of BNB registered and the lock time. Longer locks will earn more points.
2. Tap [Subscribe], and you’ll be directed to Binance Earn’s BNB Locked Product page. Follow the instructions to register your BNB into Locked Products.
3. After successfully completing this task, you’ll see the [Locked] section.

Complete Web3 Quests

To participate in Web3 tasks, you need to own a Binance Web3 Wallet. If you don’t have one yet, learn how to create a Web3 Wallet here.

1. You can earn points by completing tasks in the [Complete Web3 Quests] section. Here are some examples of tasks. Please refer to the project page for current tasks.
2. To join a task, tap [Earn Points].
3. Read the task description and instructions. Tap [Start Now].
4. Follow the instructions to complete the task. Then, tap [Verify] on the [Quest Details] page, and the system will verify that you have completed the task.
5. Once verified, you’ll see a pop-up window [Task Completed] and a [Completed] label on the [Quest Details] page.

Tap [View Quest] to return to the project page. You can check your task status on the project page. Your points will also be automatically calculated in the [Reward Info] section.

Your points will be updated in real-time on the project page. Note that these points are not final and will change based on the daily BNB lock volume and your Web3 task completion status.

After the participation period ends, the system will calculate the final points and distribute rewards to your Spot Wallet within the specified distribution time on the project page.

You can check your Megadrop rewards in your Spot Wallet by accessing [Wallet] – [Spot].

Point Calculation for Binance Megadrop

Your final total points are determined by the total points from locking BNB and completing Web3 tasks. The rewards you receive will correspond to your point ratio compared to the total points of all eligible participants.

Lock BNB

The points you receive depend on the amount of BNB registered and the lock period. Longer locks will earn more points. Note that your points may change due to fluctuations in daily registration volumes, with calculations based on the daily average from data records.

Depending on the lock period you choose in Binance Earn’s BNB Locked Products, your points will be calculated according to a 30, 60, 90, or 120-day coefficient. Specifically:

• If the lock period is from 0 < n < 59 days, your points will be calculated based on a “30-day” coefficient.
• If the lock period is from 60 ≤ n < 90 days, your points will be calculated based on a “60-day” coefficient.
• If the lock period is from 90 ≤ n < 120 days, your points will be calculated based on a “90-day” coefficient.
• If the lock period is ≥ 120 days, your points will be calculated based on a “120-day” coefficient.

For example: User A locks BNB for 45 days, and the system will calculate the lock time as “30 days,” and User A’s points will be calculated based on the “30-day” coefficient.

Complete Web3 Quests

You can increase your points by completing Web3 tasks. If you complete all tasks, your base points will be multiplied by a certain percentage coefficient, and you’ll receive additional bonus points.

For example: If the point coefficient is “3,” and your base points are 1,200. When fully completed, the total points will be (1,200 * 3) + 50 = 3,650.

Reward Distribution Time

Your points will be updated in real-time on the project page. However, these are not final points and will change depending on the daily BNB lock volume and your Web3 task completion status.

After the participation period ends, the system will calculate the final points and distribute rewards to your Spot Wallet within the specified distribution time on the project page.

You can check your Megadrop rewards in your Spot Wallet by accessing [Wallet] – [Spot].

What’s the Difference Between Megadrop and Launchpool?

If you register your BNB to earn Locked Products, your locked BNB positions will be eligible for both Launchpool rewards and Megadrop points.

Conclusion

Through the article “What is Binance Megadrop? Guide to Using Megadrop,” have you understood and learned how to use Megadrop? If not, please leave a comment below to get your questions answered right away!