Binance Announces HODLer Airdrops For BNB Holders: Here’s How It Works

Binance on Wednesday announced its HODLer Airdrop for its BNB holders. Users who subscribe to Simple Earn using BNB will earn airdropped tokens from projects with a high token supply that plan to launch on the platform soon, according to Binance.

The airdrops will be predicated on past BNB balance snapshots of users. From now on, these pictures may happen at any moment at arbitrary times. Should an image indicate that a person possesses #BNB in Simple Earn, they might qualify for a HODLer airdrop.

Binance Unveils Megadrop

In addition to the HODLer Airdrop, Binance has also provided BNB holders with extra Megadrop and Launchpool airdrops. These perks will be available when someone locks #BNB with Simple Earn. An added cherry to the scheme is the crypto exchange’s facility to earn interest on assets.

Before the coin lists on Binance Spot, the airdrop tokens will be automatically transferred to each user’s Spot Wallet. Users’ BNB assets in Simple Earn goods will be divided amongst HODLer Airdrop projects if they operate concurrently unless otherwise noted. However, HODLer Airdrop benefits aren’t available for BNB assets pledged as collateral for Binance Loans (Flexible Rate).

How Can People Participate in Binance HODLer Airdrop

Binance in a statement said that for users to embark on the airdrop collection, they must use their BNB holdings to subscribe to Simple Earn products (both Flexible and Locked) to be eligible to participate. After Binance announces the beginning of a HODLer Airdrop for new tokens, numerous hourly snapshots of user and total pool balances will be taken to determine users’ hourly average balances in Simple Earn products. The HODLer Airdrop will be announced, and within 24 hours, rewards will be sent to the Spot Wallets of eligible users.

A cryptocurrency airdrop is a marketing tactic known for distributing tokens or coins to wallet addresses. Members of the blockchain community who are engaged receive modest quantities of the new virtual currency in their wallets either for free or in exchange for performing a small task, such as retweeting a post from the company providing the money.

Promoting awareness and circulation of a new token or coin is the ultimate purpose of a cryptocurrency airdrop. Typically, social media, cryptocurrency forums, and the company’s website are used to advertise airdrops. Depending on the blockchain network or the money stored in already-existing wallets, coins or tokens can only be transmitted to particular wallets.