The world’s largest crypto exchange by trade volume, Binance, launched on Wednesday an exclusive airdrop program for Binance coin (BNB) holders.
Originally launched on the Ethereum blockchain before it migrated to the Binance Smart Chain, BNB is Binance’s native crypto, mainly used as a token for discounted trade fees on the exchange.
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Former Binance CEO Changpeng Zhao, currently serving a four-month prison sentence for AML violations while at the exchange’s helm, reportedly holds 94 million BNB. This puts him in control of about 64% of BNB’s total circulating supply.
BNB “HODLer Airdrops”
According to an announcement dated June 19, Binance’s BNB HODLer Airdrops program will reward participants with various tokens.
“Binance is launching HODLer Airdrops exclusively for BNB holders. Users who subscribe to Simple Earn using BNB will receive airdropped tokens issued by projects with a large token circulating supply that intend to soon list on Binance,” the announcement read.
While Binance did not name any tokens, it said that it was keen on engaging “small to medium projects” with strong fundamentals and organic communities as part of the program.
To participate in the airdrop program, users must subscribe to Binance’s Flexible or Locked Simple Earn products with their BNB holdings, complete account verification (KYC), and be from an eligible jurisdiction.
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Qualified sub-accounts can also participate in the program and are eligible to receive airdrop rewards separately based on their BNB balances. Binance said it will take snapshots “multiple times at any point of time each hour” to calculate airdrop rewards.
Per the announcement, eligible users will receive rewards in their spot wallets within 24 hours after the HODLer Airdrops are announced.
Stay updated on Binance’s ZKsync airdrop campaign:
Binance to Distribute 10.5M ZK Tokens After Listing ZKsync
Read about Binance’s exec ongoing detention in Nigeria:
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