Binance has announced its first project on Binance Megadrop – Bounce Bit, a platform building a BTC restaking infrastructure that allows BTC holders to earn yield across multiple networks using a dual-token PoS Layer 1 chain, combining Bitcoin’s security with EVM compatibility and a CeFi + DeFi framework.. Want to know how to participate and receive BB tokens through Megadrop? Join Coinwire as we explore the steps to join the BounceBit Binance Megadrop in this article!

What is Binance Megadrop?

Binance Megadrop - Bounce Bit

Binance Megadrop is an innovative token launch platform that integrates Binance Simple Earn and the Binance Web3 Wallet, offering a new approach to airdrops. Megadrop provides users with early access to certain Web3 projects prior to their listing on Binance. This blend of engagement, education, and rewards makes Megadrop a standout interactive platform within Binance and the wider crypto community.

Read more: What is BounceBit? Steps to Get $BB From Binance Megadrop

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How to Join Bounce Bit Megadrop on Binance

First, you need a Binance Account. If you don’t have a Binance account, register here to get a 20% discount trading fee

How to be eligible for Megadrop:

  • KYC on Binance 
  • Users in Campaign Regions
  • Snapshot period: 26/04 – 13/05
  • Participate in Megadrop Campaigns.

There are two ways to participate (you can join both): 

  1. Staking $BNB 

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  • Go to your Binance App on Phone
  • Find Megadrop, Scroll down to Lock $BNB Section.
  • The more $BNB and the longer you lock, the better score rate you get.

What are you waiting for? Start locking your BNB NOW

Link: https://www.binance.com/en/megadrop?ref=KCLHB03N

  1.  $BTCB Quests – Binance Web3 Wallet
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  • Go to your Binance App, Click on the Wallets section (bottom right corner)
  • Click on WEB3 tab to open Binance Web3 Wallet
  • Create a wallet and Deposit around 10$ $BNB to your wallet.
  • Swap 8$ $BNB to $BTCB (BNB Chain) on Binance Web3 Wallet and Deposit to Bounce Bit Dapp (Explore Section – Popular Dapps)
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  • Verify @bounce_bit Quests
  • Go back to Binance Megadrop on Binance Dapp, Scroll Down, and click “Verify”.
  • The system will show “Completed”
  1. Calculating Points and Considerations for Participating in Binance Megadrop

Your Megadrop rewards are calculated based on your total points relative to all participants. After the program concludes, rewards will be distributed to your Binance Spot wallet.

For BounceBit Megadrop, the specific reward calculation is as follows: Total Points = (Locked BNB Score * Web3 Task Coefficient) + Web3 Task Reward Where:

  • Locked BNB Score = (Average BNB locked over 120 days x 130) + (Average BNB locked over 90 days x 120) + (Average BNB locked over 60 days x 110) + (Average BNB locked over 30 days x 100)
  • Web3 Task Coefficient: 1.5 Web3 Task Reward: 1,000 Example: If your average locked BNB for 30 days, 60 days, 90 days & 120 days is all 1 BNB.
  • Your Locked BNB Score would be: (1 x 130) + (1 x 120) + (1 x 110) + (1 x 100) = 460

If you complete all Web3 tasks, your Web3 Task Coefficient will be 1.5 and the Web3 Task Reward will be 1,000. Therefore, the total points will be: (460 * 1.5) + 1,000 = 1,690. Note that if you do not complete the designated Web3 tasks, the default multiplication factor will be 1.

Besides, we are running a Bounce Bit price prediction on X, which will end on May 13 when Binance lists $BB.

Important Notes for Participating in BounceBit Binance Megadrop:

Rewards will be distributed at 13:00 on 13/05/2024 (4 hours before BB listing). Locking BNB is not mandatory. You can participate in Megadrop without locking any BNB, but your points will be lower and you will receive fewer tokens than those who lock BNB. Exercise caution when purchasing BNB to participate in Megadrop as the price of BNB may decrease significantly after the event. However, the event is ideal for holders who already have BNB. The longer and more BNB you lock, the higher your reward points. You can withdraw BNB at any time, but you will forfeit rewards and must wait 48 – 72 hours for BNB to return to your Spot wallet. If you previously locked BNB in Simple Earn, keep it as is, as Binance will automatically take a snapshot. Locked BNB will still count towards Launchpool.

Conclusin

Through this article, readers can learn how to participate in BounceBit Binance Megadrop. This promises to be a significant step in attracting a large number of users to experience products within the Binance ecosystem in the future.

Disclaimer: 5Money advises readers to have a deep understanding of the crypto market before investing. The information in this article should not be considered financial advice, and 5Money is not responsible for any investment decisions made by readers.

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