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Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests | IDOs News

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Binance, the largest cryptocurrency exchange, has recently announced the launch of Binance Megadrop, a new token launch platform that offers a unique combination of airdrops and Web3 quests. This platform allows users to subscribe BNB to Locked Products and complete tasks in their Web3 Wallet to gain early access to rewards from selected Web3 projects before their tokens are listed on the Binance Exchange.

The first project to be introduced on Binance Megadrop is BounceBit (BB), a BTC restaking chain. The token details for BounceBit are as follows: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).

To get started with Binance Megadrop, users need to log into their Binance account and ensure they have at least one active Binance Web3 Wallet. They can then subscribe to BNB Locked Products and/or complete Web3 Quests to accrue scores. These scores will determine the rewards received through the Megadrop program.

The scoring system for Megadrop is based on the Locked BNB Score, which is calculated based on the quantity of BNB subscribed and the length of the subscription period. Users will also receive a Web3 Quest Bonus and a Web3 Quest Multiplier when they complete the designated Web3 Quests. The total score is calculated by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.

It is important to note that external wallets imported to the Binance Web3 Wallet will not count, and only backed-up wallets created within the Binance Web3 Wallet can participate in Megadrop. The Megadrop rewards will be airdropped to users’ Binance Spot Wallets.

It is crucial for users to complete identity verification and hold at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, there are certain eligibility criteria for participants based on their jurisdiction. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are currently not eligible to participate in BB Megadrop.

Binance Megadrop aims to provide users with an interactive and rewarding experience within the crypto ecosystem. More details regarding the Megadrop amount, Web3 Quests, and the detailed listing plan will be announced separately.

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Sei Community Airdrop: 27 Million SEI Tokens Distributed to Active Users | IDOs News

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Sei, the blockchain platform known for its high performance and parallelized EVM, has announced the distribution of 27,421,200 SEI tokens through its second airdrop. The event targets 43,052 unique addresses, rewarding those who have been actively participating in the Sei ecosystem since its Pacific-1 Mainnet launch.

Background

Since the launch of Sei’s Pacific-1 Mainnet last August, over 100,000 addresses have played a crucial role in securing the network by delegating their voting power. This participation has fostered a thriving economy, with primary activities revolving around the exchange and creation of NFTs. To date, the platform has seen half a million individual NFT purchases, generating tens of millions of SEI in volume.

Sei v2, the latest iteration, further enhances the platform by introducing the first highly performant, parallelized EVM blockchain. This new scaling approach is designed to bolster the Ethereum ecosystem, offering the fastest time to finality of any blockchain currently available.

How the Airdrop Works

The Sei Foundation’s second airdrop focuses on rewarding active users and participants within the Sei ecosystem. Eligible users can check if their wallet addresses qualify by visiting the airdrop app. If eligible, users must connect their wallets and agree to the terms of use to receive their tokens. The deadline for this process is aligned with the commencement of “Phase 3” of the Sei v2 launch, which is scheduled in the coming weeks.

Importantly, the Foundation has cautioned users that no further interactions are required once eligibility is confirmed. Tokens will be sent directly to eligible addresses at the start of Phase 3. Users are advised to ignore any websites claiming to assist in token claims.

Airdrop #2 Allocations

The allocation for Airdrop #2 is designed to reward users based on their involvement in staking, liquid staking, and participation in top NFT communities. Points were assigned based on specific criteria, with snapshots taken on key dates to determine eligibility. Notably, addresses with excessive holdings were excluded to maintain fairness.

Specifically, the criteria included:

  • Staking up to 2,000,000 SEI
  • Holding up to 2,000,000 liquid staked SEI tokens
  • Owning up to 150 NFTs from the top 8 collections by volume

Sei core contributors and wallets associated with the Sei Foundation or Labs are not eligible to participate in this airdrop. The Foundation has emphasized that this distribution is exclusively for the Sei community members who have actively engaged with the platform.

Users are encouraged to participate in the ecosystem by building on Sei, exploring various projects, or engaging with the community on platforms like Discord.

The official Sei Twitter account will announce the start of Phase 3 and the distribution of tokens. Eligible users must ensure they agree to the terms on the airdrop app to receive their SEI tokens from the Foundation.

For further details on the Sei Community Airdrop, visit the original announcement.

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Binance Expands Loanable Assets for Flexible Rate and VIP Loans | IDOs News

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Binance Introduces New Loanable Assets

Leading cryptocurrency exchange Binance has announced the addition of new loanable assets to its Binance Loans (Flexible Rate) and VIP Loan services, according to Binance.com. This expansion aims to provide users with more options and flexibility in managing their digital assets.

Details about Binance Loans (Flexible Rate)

Binance Loans (Flexible Rate) is a dynamic loan product allowing users to borrow cryptocurrencies by collateralizing assets in their Simple Earn Flexible Products subscriptions. This service offers the advantage of not requiring a fixed loan term, providing users with greater flexibility. Loan rates are updated every minute, and users can start with a minimum loan amount of 1 USDT equivalent. Additionally, users can earn Real-Time APR rewards through Simple Earn Flexible Products while managing their loans.

Insights into Binance VIP Loan

Binance VIP Loan is designed for large personal and institutional borrowers, offering competitive rates, terms, and services. This over-collateralized loan service is aimed at providing greater liquidity for long-term investment funds, leveraged trading, and hedging strategies. Users interested in this service can contact the Binance VIP Key Account Coverage team for more details.

Important Considerations

  • Users are advised to refer to the latest interest rates and a complete list of loanable and collateral assets on the Loan Data and VIP Loan pages.
  • To place new Binance Loans (Flexible Rate) orders via the Binance App, users must upgrade to at least iOS v2.78.0 or Android v2.78.0. Older versions do not support the placement of new orders.
  • For the most accurate information, users should refer to the original English version of the announcement, as there may be discrepancies in translated versions.

Conclusion

This update from Binance highlights its commitment to enhancing user experience by expanding the range of loanable assets and offering more flexible loan options. Users are encouraged to stay informed and leverage these new services to better manage their cryptocurrency investments.

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of investments may fluctuate, and past performance is not indicative of future results. Users should consult an independent financial adviser and carefully consider their investment objectives before making any decisions.

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BitTorrent (BTT): Halving of BTFS Storage Rewards | IDOs News

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BTFS Announces Halving of Storage Rewards

To sustain the growth and success of the BitTorrent (BTT) ecosystem, BTFS is set to implement a halving on the next round of rewards for storage miners. According to BitTorrent Inc., from 00:00 (UTC) June 25, 2024, the daily rewards for storage miners on the BTFS network will be halved from 15 billion BTT to 7.5 billion BTT.

Understanding BTFS

The BitTorrent File System (BTFS) is a decentralized file storage system that utilizes blockchain technology and peer-to-peer transmission. It allows users to store their files across multiple nodes in a distributed manner, enhancing file security and reliability. BTFS also offers rapid file transfer and access, giving users greater convenience in managing and sharing files. By integrating key features of the BitTorrent Chain (BTTC), such as cross-chain connectivity and multichannel payment options, BTFS significantly enhances user experience.

Current Network Status and Growth

Currently, the BTFS network is experiencing rapid growth with over 8 million nodes across the network, including more than 6 million super miners, according to BTFS SCAN. To support the efficient operations of these nodes, BTFS initiated a rewards program and has provided an aggregate of 25 trillion BTT since the launch of BTFS Mainnet in 2019.

Every two years, the BTFS rewards halving will occur, causing the rewards for all storage miners across the network to be cut in half. This halving mechanism aims to sustain the long-term growth and stability of the BTFS network.

Impact of Halving

The halving will prompt miners to improve node performance by optimizing node operation and reducing waste. In addition, an upgrade of the official website for the BTFS technical community and the release of BTFS v3.0.0 Mainnet will be scheduled in sync with the halving. These developments are expected to improve the efficiency of the BTFS protocol, expand the user base, and enhance its overall functionality.

Future Plans

Looking ahead, BTFS is committed to continuously refining its storage rewards strategies. The goal is to expand the network of nodes participating in file storage on BTFS, providing developers with an efficient, secure, and reliable storage solution, boosting both the capacity and the transaction efficiency of the BTTC network.

About BTFS

The BitTorrent File System (BTFS) is both a protocol and a web application that provides a content-addressable peer-to-peer mechanism for storing and sharing digital content in a decentralized file system, as well as a base platform for decentralized applications (Dapp). The BTFS team has been working on the latest network operations and BTT market sentiment, among other factors, to make a series of dynamic adjustments such as upload prices and airdrop reward schemes.

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