In a bid to engage its community and support upcoming projects, the cryptocurrency exchange platform Binance has unveiled a new initiative called HODLer Airdrops, exclusively for BNB holders. This program, which kicks off today, is designed to reward users who sign up for Simple Earn using BNB with tokens from projects that are set to be listed on Binance and have a large circulating token supply.
Binance made the announcement on June 19, 2024, at 13:45, emphasizing their dedication to creating a robust and sustainable market environment. Users who participate in the Simple Earn products, both Flexible and Locked, by holding BNB will be eligible to receive these airdrops. Prior to each HODLer Airdrop, Binance will release announcements outlining the eligibility requirements and steps for users to take part.
To determine the rewards, Binance will take random snapshots of user balances and total pool balances at different intervals. These snapshots will be used to calculate the hourly average balances of users in the Simple Earn products. Reference snapshots from various dates after the announcement will be used to calculate rewards for users. For instance, snapshots from June 1 to June 7, 2024, may be used for the HODLer Airdrops on June 11, 2024.
Users who qualify will receive their HODLer Airdrop rewards in their Spot Wallets within 24 hours of the announcement. The distribution of rewards will be based on specific criteria, including a maximum BNB holding calculation per user, as specified in each announcement.
To be eligible for the HODLer Airdrops, users must complete account verification (KYC) and be from a qualifying jurisdiction. The BNB holding calculation limit will be enforced to ensure a fair distribution of rewards. For example, if a user holds 203 BNB but the limit is set at 200 BNB, only 200 BNB will be considered for reward calculations.
Sub-accounts are also eligible to participate, with separate snapshots taken for master accounts and sub-accounts. Rewards will be distributed to eligible sub-accounts based on their BNB balances.
Tags: BNB, Binance