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<p>Cryptocurrency exchange Binance has <a href="https://www.binance.com/en-NG/support/announcement/binance-launches-megadrop-a-token-launch-platform-with-airdrops-and-web3-quests-748b7181f5d14d6fb2add4048374d646" rel="noopener noreferrer nofollow" target="_blank">announced</a> the launch of a reward-based program that will feature airdrop and quests for its users. The exchange also announced an early access incentive for users in the Web3 ecosystem. According to the platform’s blog post, the program features access to selected projects for rewards.</p>
<h2 class="wp-block-heading" id="binance-launches-new-rewardprogram">Binance launches new reward&nbsp;program</h2>
<p>In its blog post, Binance explained that users can use its native token&nbsp;BNB&nbsp;to&nbsp;subscribe to locked products or carry out tasks in their Web3 wallets.</p>
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   <p lang="en" dir="ltr">Unlock the power of your assets effortlessly with <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Binance</a> Megadrop!<br><br>Seize the opportunity to explore handpicked Web3 projects and be among the first to participate and earn new tokens before they go public.<br><br>Discover more ⤵️</p>— Binance (@binance) <a href="https://twitter.com/binance/status/1781352061155827865?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 19, 2024</a>
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<p>These&nbsp;are the activities that&nbsp;will open them up for incentives from the project before the exchange lists the tokens. In simple terms, Megadrop is a loyalty-based program with rewards for active participants. Users&nbsp;who are&nbsp;eligible for the program will be able to stake BNB before the launch of the projects.</p>
<p>The <a href="https://www.binance.com/en-NG/support/announcement/binance-launches-megadrop-a-token-launch-platform-with-airdrops-and-web3-quests-748b7181f5d14d6fb2add4048374d646" rel="noopener noreferrer nofollow" target="_blank">announcement</a> also said that users will also be able to carry out quests. However, Binance did not specify what type of quests they will be involved in&nbsp;but&nbsp;it would likely involve tasks like performing engagements regarding Web3 products on the platform. While the exchange has done some of these before, especially its Coinbase Earn service, this new Megadrop program&nbsp;is a bit different&nbsp;from the others.</p>
<h2 class="wp-block-heading" id="implication-of-the-rewards-program">Implication of the rewards program</h2>
<p>Although the usual learn-to-earn rewards-based system is typically a timed event, this is looking like a long-term program. The exchange is using the early access feature to ensure optimum participation. In its post, Binance noted that users can earn more rewards as more people on its platform participate in the programs. “Users will receive a Web3 Quest Bonus and a Web3 Quest Multiplier when they complete all the designated Web3 Quests with the minimum requirements specified,” the exchange said.</p>
<p>The new rewards system is coming after the exchange is preparing to move on after&nbsp;the <a href="https://www.cryptopolitan.com/binance-and-sec-close-to-settlement/" data-type="post" data-id="507328" rel="noopener noreferrer nofollow">resolution</a> of&nbsp;its issues with the United States Securities and Exchange Commission (SEC).&nbsp;The exchange agreed to pay $4.3 billion in settlement&nbsp;to the agency&nbsp;after its CEO Changpeng Zhao pleaded guilty to disobeying anti-money laundering rules.&nbsp;Zhao&nbsp;is also scheduled&nbsp;for sentencing on April 30.</p>

Binance launches Megadrop with early access incentives for Web3 users

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