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Binance Launches HODLer Airdrops Program for BNB Holders
Binance, one of the world’s leading cryptocurrency exchanges, has introduced a new rewards program called HODLer Airdrops. This program aims to benefit holders of the BNB token by providing them with early access to tokens that are set to launch on the platform.
The tokens distributed through the HODLer Airdrops will come from small to medium-sized projects with strong fundamentals, a large circulating supply, and active communities. To be eligible for these airdrops, Binance users must hold BNB and be subscribed to the Simple Earn program. Additionally, users need to complete account verification (KYC) and be from an eligible jurisdiction.
While Binance did not specify the jurisdictions where the program will be available, it remains uncertain if HODLer Airdrops will extend to Binance.US, the U.S. arm of the exchange. The company has not yet responded to inquiries regarding this matter.
Benefits of BNB and HODLer Airdrops
Currently, BNB is trading around $600, slightly below its all-time high of $717.48 reached on June 6, according to CoinGecko. With a market cap exceeding $88 billion, BNB remains among the top five cryptocurrencies by market capitalization.
Binance plans to announce HODLer Airdrops in advance, giving users time to prepare for potential rewards. The distribution of rewards will be based on user balances, with snapshots taken multiple times each hour to calculate hourly average balances in Simple Earn products. Each airdrop will have a predetermined limit.
Participating in the HODLer Airdrops will not affect users’ standard benefits for holding BNB, such as eligibility for Launchpool and Megadrop events. Furthermore, Binance is actively seeking applications from crypto projects interested in joining the airdrop program and other events.
Regulatory Challenges
The launch of HODLer Airdrops comes at a time when Binance.US is facing regulatory hurdles. Most recently, North Dakota revoked Binance’s money transmitter license, joining other states like Alaska, Florida, Maine, North Carolina, and Oregon in similar actions.
Additionally, Binance has been under scrutiny for violating U.S. anti-money laundering laws, resulting in hefty fines and penalties. Former Binance CEO Changpeng Zhao was sentenced to four months in prison in connection with these violations.
Despite these challenges, Binance remains committed to supporting the blockchain ecosystem by backing small and medium-sized projects with strong fundamentals, organic communities, sustainable business models, and responsible teams.
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