Binance Introduces New Rewards Program for BNB Holders
Binance, one of the leading cryptocurrency exchanges, has launched a new rewards program called HODLer Airdrops, aimed at benefiting holders of its native BNB token.
This new initiative offers BNB holders early access to tokens from upcoming projects that are set to launch on the Binance platform. The tokens featured in the airdrops will come from “small to medium projects with strong fundamentals, a large circulating supply, and strong and organic communities.”
At the time of writing, BNB is valued at $603.45, making it the fourth-largest cryptocurrency by market capitalization, exceeding $89 billion. The token reached a peak of $718.53 on June 6.
To participate in the HODLer Airdrops program, users must hold BNB and be part of Binance’s Simple Earn program. Additionally, users need to complete account verification (KYC) and reside in eligible countries or regions. Binance has not yet disclosed the specific jurisdictions that will be included in the program.
Binance plans to announce HODLer Airdrops ahead of time, allowing users to prepare. The allocation of rewards will be based on users’ BNB balances, which will be averaged hourly through snapshots taken multiple times every hour. Each airdrop will have a hard cap.
Joining the HODLer Airdrops program will not affect users’ existing benefits for holding BNB, such as eligibility for Binance’s Launchpool and Megadrop events.
The introduction of the HODLer Airdrops program is part of Binance’s efforts to enhance the value proposition for BNB holders while supporting emerging projects in the blockchain space. The exchange announced on May 20 that it is inviting crypto projects to apply for inclusion in this new airdrop program and other listing programs.
However, the launch of the HODLer Airdrops program comes at a time when Binance’s US division is facing regulatory challenges. Recently, North Dakota revoked Binance.US’s money transmitter license, joining seven other states that have taken similar actions. Additionally, the founder and former CEO of Binance, Changpeng Zhao, has begun serving a four-month prison term for charges related to money laundering.
Despite these challenges, Binance remains committed to providing innovative opportunities for its users and supporting the growth of the cryptocurrency ecosystem.
