With Binance Simple Earn function, your BNB holdings can easily generate daily rewards. All you need to do is subscribe your BNB with a flexible or locked term to start earning more BNB.
However, Binance has more than just a simple earning feature.
Did you know that by subscribing to Simple Earn, you’re also eligible for additional rewards through three other mechanisms: Launchpool, Megadrop, and HODLer Airdrops? These opportunities allow you to maximize your BNB earnings and can stack together to provide multiple benefits simultaneously.
- Launchpool launched in 2020, enabling users to mine new tokens by staking BNB and other tokens. It has released more than 50 projects.
- Megadrop integrates Binance Earn with the Binance Web3 wallet, providing early access to project tokens by locking BNB and completing Web3 tasks.
- The HODLer Airdrop provides rewards based on historical snapshots of your BNB balances in the Simple Earn product, providing retroactive rewards for your loyalty.
This article will walk you through each mechanism and explain how they work. Best of all, by locking your BNB into Simple Earn, you can get Simple Earn APR, Launchpool benefits, Megadrop rewards, and HODLer airdrops all at once! Read on as we dive deeper into these opportunities to help you take full advantage of the BNB potential on Binance.
1. Earn daily rewards with Binance Simple Earn
Simple Earn is a platform that allows users to earn rewards by depositing cryptocurrency (such as BNB) with flexible or locked terms. It allows users to earn interest while maintaining control of their assets. When subscribing to Simple Earn, you can choose between two products, flexible and locked, each offering unique benefits.
How to Earn?
Flexible Product: Earn instant APR rewards on your BNB holdings, credited to your earning account every minute – plus daily bonus tiered APR rewards! You can redeem your assets at any time without penalty, which gives you full access to your funds when you need them.
Locked Products: Earn higher interest rates by committing your assets for a predetermined period. Your assets are locked for a specific period and have a set redemption date. Early redemption is allowed, but you will lose the accumulated rewards. This option is suitable for users who are looking for higher returns and are willing to commit for a longer period.
There are 5 locked terms to choose currently:
- 15 days – 0.05% APR
- 30 days – 0.15% APR
- 60 days – 0.23% APR
- 90 days – 0.29% APR
- 120 days – 0.34% APR
Of course, the APR above may change at any time due to Binance rules.
By understanding the differences, you can choose the option that best suits your financial goals. Whether you prefer a current or fixed-term investment product, Binance Simple Earn can help you maximize your returns.
Next, we’ll explore other ways you can earn rewards when you subscribe BNB to Simple Earn, including through Launchpool, Megadrop, and HODLer Airdrops.
2. Earn New Tokens with Binance Launchpool
Launched in 2020, Binance Launchpool allows users to earn new tokens by locking their crypto assets. In short, it provides a secure and user-friendly environment to earn new token rewards. You can lock your BNB and other eligible tokens to receive new tokens at no additional cost. You stake your crypto assets in a dedicated pool for a specified period of time, and then receive new tokens as rewards.
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Automatically qualify for Launchpool
One important thing to know about Launchpool is that if you subscribe to Simple Earn (either the locked product or the flexible product) for BNB, you will automatically be eligible for every Launchpool event that occurs during your BNB subscription. There is no need to cancel your subscription. Just lock your BNB in Launchpool and it counts automatically.
Steps to participate in Launchpool using Simple Earn
- Subscribe to Simple Earn: Choose a Flexible or Locked product.
- Earn rewards: Start earning airdrop tokens based on your subscription amount as a percentage of the total locked amount in Launchpool.
- Receive airdrop tokens: After the lock-up period, the airdrop tokens will be credited to your spot wallet. You can also claim the accumulated tokens at any time during this period.
In the next section, we’ll explore Megadrop and how to combine it with Simple Earn and Launchpool to further maximize your crypto rewards.
3. Deposit and Withdraw Tokens With Binance Megadrop
Megadrop is an initiative launched by Binance in April 2024 that combines the success of Launchpool with the Binance Web3 Wallet to create a new way to earn tokens allocated through token generation events. The platform allows users to access selected Web3 project tokens in advance before they are listed on Binance, combining the benefits of locking BNB and participating in Web3 events to maximize rewards.
How to participate in Megadrop?
- Lock your BNB: Subscribe your BNB to Binance Earn’s lock-up products. The longer you lock your BNB, the greater the potential rewards. Please note that any BNB subscribed to flexible products is not eligible for Megadrop rewards.
- Complete Web3 tasks: Completing Web3 tasks is optional but can significantly increase your rewards. All tasks must be completed using the Binance Web3 wallet.
Megadrop score calculation instructions
Your Megadrop score determines the amount of tokens you receive. Several factors influence this score:
- Amount of locked BNB: The more BNB you lock, the higher your score.
- Lock period: The longer the lock period, the higher the score.
- Web3 tasks: Completing tasks can significantly increase your score.
The score calculation formula is as follows:
Total score = (locked BNB points * Web3 task multiplier) + Web3 task reward
For example: If your locked BNB score is 1,200, the multiplier is 3, and the bonus is 50, then after completing all tasks, your total score will be (1,200 * 3) + 50 = 3,650.
The system will update your score instantly, reflecting changes based on your average daily locked BNB holdings and Web3 task completion status. After the participation period ends, the final score will be calculated and rewards will be distributed to your Spot wallet.
Like Launchpool, Megadrop lets users earn money by locking up assets, but combines it with Web3 tasks, becoming a gateway for users to explore the decentralized web through the Binance Web3 wallet. It’s a new way to earn and participate in the ecosystem!
In the next section, we’ll explore the HODLer Airdrop, which provides another opportunity to earn rewards by holding BNB in the Binance Simple Earn product.
4. Earn holding rewards through HODLer Airdrops
HODLer Airdrop is a new reward mechanism launched by Binance in June 2024 to reward users for holding BNB. The reward is based on a historical snapshot of user balances in Simple Earn, providing incentives for long-term BNB holders.
Unlike other reward mechanisms (such as Launchpool), which require action within a set time after the announcement, HODLer Airdrops can reward users retroactively, providing an easy way to earn extra tokens. More rewards for BNB holders!
How to Earn from HODLer Airdrops?
- Subscribe to Simple Earn: To qualify for the HODLer airdrop, you need to subscribe to Simple Earn and choose either the flexible product or the locked product.
- Wait for announcements: Stay tuned for HODLer airdrop announcements. These will inform you of the timeline for participating in the project and snapshots.
- Claim Rewards: After the airdrop announcement is released, eligible users will receive rewards directly in their spot wallets within 24 hours.
HODLer airdrops have the significant advantage of not requiring users to do additional tasks. They can automatically receive these rewards simply by holding BNB in the Simple Earn product, which simplifies the process. These airdrops not only give a high probability of listing the token on Binance – ensuring high liquidity and trading volume – but are also intended to support smaller, promising crypto projects. This support helps increase the visibility and growth of these projects in the crypto ecosystem.
Comparison with Megadrop and Launchpool
- Retroactive: Unlike Megadrop and Launchpool, which require active participation during the earning period, HODLer Airdrops are retroactive, rewarding users for past actions.
- Project Focus: HODLer Airdrops typically distribute tokens from smaller projects with strong fundamentals, while Megadrops and Launchpools typically feature larger, more established projects.
- Simple: The HODLer airdrop is very simple and requires no additional actions, which enables users to easily receive rewards.
Compare BNB Earning Opportunities on Binance
To help you understand the different earning opportunities available for BNB on Binance, here’s a summary of the Launchpool, Megadrop, and HODLer airdrops.
By understanding and taking advantage of these opportunities, you can optimize your earnings on Binance and maximize your returns. At the same time, you are supporting a variety of projects.
Conclusion
In this blog post, we explored the various ways to earn money with BNB on Binance, including Simple Earn, Launchpool, Megadrop, and HODLer Airdrops. Each method offers unique benefits and opportunities to maximize your returns:
- Binance Simple Earn: Allows you to earn rewards through flexible or locked products, providing flexibility or higher returns depending on your preference.
- Launchpool: Allows you to acquire new tokens by staking your BNB (or other eligible assets) and gives you early access to innovative projects.
- Megadrop: Combining Binance Earn with Web3 events to provide early access to Web3 project tokens by locking BNB and completing tasks.
- HODLer Airdrop: Retroactively reward BNB holders based on historical snapshots of user balances in Simple Earn to support promising projects.
The important thing to remember is that these earning opportunities are not mutually exclusive. By locking your BNB into Simple Earn, you become eligible for all four types of rewards, maximizing your potential earnings.
This comprehensive approach allows you to benefit from daily interest, new token mining, early access to Web3 projects, and retroactive rewards all at the same time.
We encourage you to explore and take advantage of these diverse ways to earn money. Whether you prefer the flexibility of daily withdrawals, the excitement of new token launches, or the rewards of long-term holding, Binance offers a range of options to help you grow your crypto assets. Unlock the full potential of your BNB today!
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