Quests and airdrops are combined into a loyalty programme on the new site. Exchange of cryptocurrency For web3 users, Binance has introduced an early access incentive and rewards programme with quests and airdrops.
The new programme, called “Megadrop,” is a platform for token launches where users, according to a Binance blog post, “can subscribe BNB to Locked Products and/or complete tasks in their Web3 Wallet for early access to rewards from selected Web3 projects before their tokens are listed on the Binance Exchange.”
Megadrop will essentially operate as a rewards and loyalty programme with incentives to join. Before projects are launched on the platform, users who register for an account will have the chance to stake Binance’s BNB cryptocurrency.
Quests will also be available to users. Although the blog post didn’t say exactly how the quests would operate, it’s highly likely that they will require completing engagement chores like subscribing to mailing lists or watching instructional films about web3 goods.
Although there are other similar services in the market, such Coinbase Earn, Binance’s Megadrop seems to stand out from the crowd with a few significant distinctions.
Binance is encouraging consumers to participate over the long term via an early access platform, in contrast to the normal learn-to-earn and staking services, which are usually sporadic or one-time events. As per the blog post, users that engage in more events and for longer durations will receive larger Megadrop awards.
Extended memberships result in increased ratings. Once users fulfil all the required minimum requirements and finish all the allocated Web3 Quests, they will get a Web3 Quest Bonus and a Web3 Quest Multiplier.
As part of a plea agreement with the US government, the company’s former CEO, Changpeng (CZ) Zhao, admitted to breaking anti-money laundering regulations and paid $4.3 billion in fines and reparations. The debut of the new platform coincides with the company’s continuing operations.
CZ was found guilty of money laundering and will now be sentenced in the United States on April 30. He Yi, the co-founder of Binance, claims that CZ is in “a positive situation” despite the current circumstances facing the previous boss. Analysts estimate that CZ might spend anywhere from ten years to twelve months in federal prison.