Binance Megadrop is Binance's token launch platform, designed to list new tokens and distribute a portion of these new tokens to users who participate in Megadrop activities. Users accumulate points by completing specific tasks, earning rewarded token airdrops—similar to the previous Binance Launchpool's new coin mining feature.
New virtual currencies listed on Binance Megadrop must meet Binance's internal screening criteria. While not absolutely guaranteed, these projects are generally of certain quality and relatively reliable IEO projects before being published on the platform.
This article provides an overview of the latest Binance Megadrop project, Lista (LISTA), compiling official participation conditions, event details, and some personal insights.
This article is a personal experience sharing and data compilation, with no investment recommendations or trading intentions. All investments carry risks, and virtual currencies are extremely high-risk investment assets. Always conduct your own research and judgment before investing.
Understanding Lista (LISTA) on Binance Megadrop
Lista DAO is a liquid staking and decentralized stablecoin lending protocol. It includes lending functions that allow users to borrow lisUSD by staking cryptocurrencies, as well as liquid staking of BNB, lisUSD, and other tokens to earn rewards.
lisUSD is Lista's decentralized stablecoin pegged to the US dollar, fully over-collateralized by crypto assets such as BNB, ETH, slisBNB, and wBETH.
Built on the BNB Chain, Lista utilizes innovative liquid staking solutions with the goal of positioning lisUSD as a top-tier stablecoin in the cryptocurrency space.
slisBNB is BNB's native yield and liquid staking token. By staking BNB, users receive slisBNB, which appreciates relative to BNB in line with BNB's staking annual percentage rate (APR). This allows users to earn additional rewards and stake yields on various DeFi platforms.
At the time of writing, Lista's total value locked (TVL) is $480 million, with lisUSD borrowing volume at $46.76 million.
Lista is backed by Binance Labs and has partners including LIDO, Uniswap, Curve, and PancakeSwap. It has also undergone audits by Web3 security firms like Peckshield, Veridise, Slowmist, Blocksec, and Supremacy.
LISTA is the native token of Lista, with main uses including:
- Governance: LISTA token holders can vote on protocol governance decisions.
- Protocol Incentives: Users can earn LISTA tokens as rewards when borrowing lisUSD against collateral or participating in liquidity mining for lisUSD and slisBNB pools.
- Voting: Users can lock their LISTA tokens as veLISTA to vote on collateral types for minting lisUSD and on liquidity pools to receive higher LISTA token emissions.
- Fee Sharing: Users locking LISTA as veLISTA are also eligible for fee sharing.
Risk Analysis of LISTA Megadrop Airdrop
The Megadrop airdrop can be seen as an exchange福利 (benefit/welfare), requiring users to stake specific currencies (like BNB) for a fixed period to earn points, which are then exchanged for additional rewards. The staking period also accrues interest. Although fixed-term products may seem to lock funds for a period, they can typically be redeemed early (within 48-72 hours), albeit with forfeited interest rewards—but without loss of the original token quantity. From a coin-based perspective, there is no loss, but there is still price volatility risk against stablecoins like USDT.
Besides the airdrop, completing Web3 tasks can also earn points, requiring only minimal Gas fees. Users can choose to skip specific tasks and only participate through fixed-term product staking, though this may result in fewer points.
Nevertheless, participating in Megadrop carries certain risks:
- BNB Price Volatility Risk: Participating in fixed-term financial products does not reduce the total quantity of BNB, but the price of BNB against stablecoins like USDT fluctuates, and the possibility of a price drop exists.
- Web3 Task Participation Risk: Completing specified Web3 tasks may require exchanging certain tokens to be locked for a period, exposing you to the price volatility risk of those tokens. Although the amount required is usually very low (typically under $10 USDT based on current experience) and can ultimately be redeemed, risk still exists.
- Gas Fee Cost Risk: Any transfers on Web3 accounts incur Gas fees. While the amounts are low, they still represent a cost risk.
- New Token Price Volatility Risk: If the new token is sold immediately upon listing, the risk is relatively small. However, holding the token long-term inevitably exposes you to price fluctuation risks.
This discussion is limited to the risks associated with the new coin airdrop activity itself. If one continues to hold the token after the airdrop phase, they must face price volatility risks arising from the project's operations, competition, market environment changes, and other factors.
Binance LISTA New Coin Megadrop Airdrop Event Details
You can find the Lista (LISTA) airdrop activity option in the Megadrop section on the Binance website or app. Complete the specified tasks to earn points and receive airdrop rewards.
Megadrop Event Details:
- Date: May 30, 2024, 08:00:00 (UTC+8) to June 20, 2024, 07:59:59 (UTC+8)
- Total Supply (LISTA): 1,000,000,000
- Initial Circulating Supply (LISTA): 230,000,000 LISTA (23% of the max token supply)
- Megadrop Airdrop Reward Quantity (LISTA): 100,000,000 (10% of the max token supply, meaning 10% of the total new tokens are gifted to all Binance users participating in Megadrop)
Earn points to receive the airdrop. Ways to earn points: Stake BNB in fixed-term products and complete specified Web3 tasks.
- Lock BNB in Fixed-Term Products: During the event, Binance will take multiple random hourly snapshots of users' BNB fixed-term holdings. To maximize BNB locking scores, users can subscribe to BNB fixed-term products before May 30, 2024, 08:00:00 (UTC+8). For more information on BNB fixed-term products, please refer to the FAQ.
Web3 Task Period: Users need to complete the Web3 task "Stake 0.01 BNB in the ListaDAO DApp" during this period.
Special Reminder: "Any malicious bulk-volume activities, bulk registration of dummy accounts, wash trading, and other cheating behaviors are strictly prohibited. Binance reserves the right to take any action necessary." This new rule was added in the current Megadrop announcement. Accounts with违规 (violating/irregular) behaviors may face risk control triggers.
This new regulation is an official mechanism to punish users creating dummy accounts to刷积分 (brush/accumulate points fraudulently), further protecting the rights of ordinary participants.
Reward Calculation: User's Final Score = (Locked BNB Score * Web3 Task Multiplier) + Web3 Task Score
- Locked BNB Score (based on hourly snapshots during the BNB fixed-term product snapshot period) = (Average 120-day BNB lock-up amount × 130) + (Average 90-day BNB lock-up amount × 120) + (Average 60-day BNB lock-up amount × 110) + (Average 30-day BNB lock-up amount × 100)
- Web3 Task Multiplier: 1.5
- Web3 Task Score: 1,000
The final rewarded token quantity is distributed proportionally based on all users' total scores.
To maximize your score, it is highly recommended to complete the Web3 task (as the locked score is multiplied by 1.5). The task is relatively simple, with the main cost being the Gas fees incurred during the process.
You can still participate in Megadrop without completing the Web3 task or activating a Web3 wallet, albeit with fewer points. If you are unfamiliar or concerned about Web3 wallets, simply locking BNB in fixed-term products allows participation.
👉 Explore step-by-step participation guides
How to Participate in the LISTA New Coin Megadrop on Binance
You must first have a Binance account and complete identity verification (KYC) to use Binance Megadrop and participate in the new coin airdrop.
This article is a personal experience sharing and data compilation, with no investment recommendations or trading intentions. All investments carry risks, and virtual currencies are extremely high-risk investment assets. Always conduct your own research and judgment before investing.
Frequently Asked Questions (FAQ)
What is Binance Megadrop?
Binance Megadrop is a token launch platform that combines airdrops and Web3 quests, allowing users to earn rewards from selected new projects before they are listed on the Binance exchange by completing tasks and locking assets.
What are the main risks of participating in a Megadrop?
The primary risks include the volatility of the staked asset's price (e.g., BNB), the potential price fluctuation of any tokens required for Web3 tasks, the cost of Gas fees for on-chain transactions, and the inherent volatility of the new token's price upon listing.
Do I have to complete the Web3 task to participate?
No, you can participate solely by locking BNB in fixed-term products. However, completing the Web3 task significantly boosts your final score through a multiplier, making it highly advisable for maximizing potential rewards.
Can I redeem my locked BNB early?
Yes, Binance fixed-term products typically allow for early redemption, but this process may take 48-72 hours, and you will forfeit any accrued interest rewards for the staking period.
Is my account safe when connecting to Web3 for tasks?
Connecting your Binance Web3 Wallet to vetted DApps like ListaDAO for specific tasks is generally considered safe when following official instructions. However, always ensure you are interacting with the genuine application and be cautious of phishing sites.
How is the final airdrop reward calculated?
Your final score is a combination of points from your locked BNB (calculated based on amount and duration) and the Web3 task (a fixed 1000 points). This score is then multiplied by a factor if you complete the Web3 task. Your share of the total airdrop pool is proportional to your final score relative to all participants' scores.