Binance Announces a 15 Million Token Airdrop through PROVE - Available Exclusively for This Concealed User Base
The cryptocurrency exchange Binance has announced the launch of its 31st HODLer Airdrop, distributing 15 million PROVE tokens to eligible users [1]. The PROVE token is the native asset of the Succinct network, a decentralized ZK prover network that offers blockchain infrastructure for privacy, scalability, and trustless computation [2].
To be eligible for the airdrop, users must be KYC-verified and reside in eligible jurisdictions. Specifically, users who staked BNB during the period of July 9 to July 12 in Simple Earn or On-Chain Yields products on Binance are eligible [1]. The airdrop is designed to reward long-term BNB stakers and participants in Binance’s earning programs while promoting adoption of Succinct’s ZK infrastructure.
The PROVE token serves several key functions within the Succinct network. It incentivizes provers who generate zero-knowledge proofs necessary for the network’s operation, acts as a payment medium for proof generation services, enables governance participation for token holders in protocol decisions, and acts as a reward mechanism to encourage Binance users to stake BNB long-term and engage with Binance’s Simple Earn or On-Chain Yield products [1][2].
The tokens will be dropped directly into the Spot Wallets of eligible users, and traders are advised to verify the contract address before making any trades. The available pairs for trading are PROVE/USDT, PROVE/USDC, PROVE/BNB, PROVE/FDUSD, and PROVE/TRY [1]. Trading for PROVE opens on August 5 at 17:00 UTC on Binance Spot, and Binance will support Spot Algo Orders, Trading Bots, and Spot Copy Trading soon after [1].
It is important to note that citizens of the U.S., U.K., Australia, Canada, and other restricted regions are excluded from participation in the airdrop [1]. The PROVE token is classified as a Seed Tag, indicating it is at an early stage and carries higher risk but also the opportunity for high returns [2]. Additionally, an additional 5 million PROVE tokens have been set aside for marketing use after 6 months [2].
In summary, the PROVE token's purpose in Binance's HODLer Airdrop is to incentivize and reward dedicated BNB holders while introducing and promoting a privacy-focused, scalable blockchain infrastructure project through token utility and governance. The airdrop is a testament to Binance's commitment to supporting innovative projects and fostering growth in the blockchain industry.
References: [1] Binance. (2022). Binance Launches HODLer Airdrop for PROVE Token. [online] Available at: https://www.binance.com/en/blog/announcements/binance-launches-hodler-airdrop-for-prove-token-05042022
[2] Succinct Network. (2022). PROVE Token. [online] Available at: https://succinct.network/prove-token/
- Binance has announced the launch of a HODLer Airdrop for its 31st round, distributing 15 million PROVE tokens to eligible users.
- The PROVE token is the native asset of the Succinct network, a ZK prover network offering blockchain infrastructure for privacy, scalability, and trustless computation.
- To be eligible for the airdrop, users must be KYC-verified and reside in eligible jurisdictions, with staking BNB during specified dates on Binance's earning products being a requirement.
- The airdrop aims to reward long-term BNB stakers and those engaged with Binance's earning programs while promoting adoption of Succinct's ZK infrastructure.
- Eligible users will receive the tokens directly in their Spot Wallets, with trading available on Binance Spot from August 5 at 17:00 UTC.
- The PROVE token serves multiple functions within the Succinct network, including incentivizing provers, acting as a payment medium, enabling governance participation, and rewarding Binance users for long-term BNB staking.
- While the PROVE token offers potential for high returns, it is classified as a Seed Tag, indicating it is at an early stage and carries higher risk.
- Additional 5 million PROVE tokens have been set aside for marketing use after 6 months.
- The airdrop and support for the PROVE token are evidence of Binance's commitment to fostering growth in the blockchain industry by supporting innovative projects and promoting DeFi, Dapps, and tokenomics through technology.
