Binance is unveiling a brand new “megadrop” token launch platform with Bitcoin (BTC) “restaking” chain BounceBit (BB) as its first challenge.
In a brand new announcement, the world’s largest crypto trade platform by quantity says that the Binance Megadrop is a brand new platform that integrates each Binance Easy Earn and Binance’s Web3 Pockets and can grant traders entry to belongings not but listed on the crypto trade.
Moreover, Binance says the Megadrop will characteristic the native asset of BounceBit and Web3 quests that permit customers to earn rewards.
“Binance is launching Binance Megadrop, a brand new token launch platform with airdrops and Web3 quests, the place customers can subscribe BNB to locked merchandise and/or full duties of their Web3 Pockets for early entry to rewards from chosen Web3 tasks earlier than their tokens are listed on the Binance Trade.”
BounceBit is a challenge that has a framework constructed round each centralized and decentralized finance, permitting BTC holders to earn yield throughout many sources.
“BounceBit’s method relies on the concept that boosting Bitcoin ought to primarily contain utilizing belongings with out altering the Bitcoin blockchain.
By [bringing] entry to funding fee arbitrage and creating on-chain certificates for re-staking and mining, BounceBit successfully combines the strengths of centralized finance (CeFi) and decentralized finance (DeFi).”
The challenge’s native asset could be staked, used as a governance token and to pay for the protocol’s fuel charges, given out as a validation reward, or be a medium of trade or retailer of worth.
The token could have a max provide of two.1 billion whereas solely 8% of that (168 million) might be allotted for the Megadrop, in line with Binance.
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