Binance, a leading global cryptocurrency exchange, announced Wednesday that it has launched an airdrop initiative called HODLer Airdrops to reward loyal BNB holders for their contributions and support of the platform.
In a press release shared with Coinspeaker, Binance said that the program is not for everyone and is designed exclusively for BNB (BNB price data) holders.
Eligible users will receive random airdrops from a variety of projects of all sizes before those projects are listed and traded on Binance. The move aims to provide early access to new and promising projects before they become available to others.
Early access to promising projects
The HODLer Airdrops program recognizes users’ past behavior and rewards them appropriately for their contributions. This is to ensure fairness and equality among BNB holders.
This program will help both BNB holders and project developers reach a wider audience and help holders receive additional tokens for their loyalty.
Currently, Binance boasts over 200 million registered users worldwide. The company’s new CEO, Richard Teng, announced last week that the new achievement “is an embodiment of the trust the cryptocurrency community and industry players continue to have in the Binance ecosystem.”
However, it is important to note that not all 200 million users will be eligible for the HODLer Airdrops initiative. As of June 2023, Binance stated that there were approximately 1.9 million BNB holders on its platform.
The company predicted that number could “grow significantly” between 2023 and 2030 as more users become familiar with digital assets.
Subscription Requirements for Participation
Despite the large number of BNB holders, only those who have subscribed BNB to Simple Earn Flex or Locked Products can participate in the program.
Binance advised users to subscribe to one of these products to participate in the HODLer Airdrop initiative. Those who have already subscribed BNB to Simple Earn products will be rewarded at the current yield.
The exchange takes a snapshot of the user’s wallet balance before allocating airdrops. Binance stated that snapshots will be taken randomly starting Wednesday, June 19, 2024.
Once the snapshot is completed and the airdrop is announced, eligible users will receive tokens directly to their wallets within 24 hours.
“Once the HODLer Airdrop is announced, eligible users will receive tokens in their Spot Wallet within 24 hours. Tokens distributed through this program will come from small to medium-sized projects that will be listed on Binance,” Binance said.
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