Binance has announced its first airdrop of 2024, offering a total of $80,000 in rewards to users engaging with the Binance Web3 wallet.

The airdrop, named after the Maverick Protocol (MAV), is the 34th launchpool project by Binance and is scheduled from January 16, 2024, 00:00 UTC, to January 29, 2024, 23:59 UTC.

To qualify for a share of the prize pools, users must undertake specific tasks using the Binance Web3 Wallet during the event period. 

The tasks include on-chain swaps and liquidity transactions on the Maverick Protocol:

On-chain Swaps: Users can earn MAV tokens valued at $30,000 by completing a transaction of at least $10 between USDT, USDC, Ethereum (ETH), and BNB on the Maverick Protocol.

Liquidity Transactions: Users providing a minimum of 10 USDC equivalent liquidity to the USDC-USDT Elevated Position 11 through liquidity transactions can earn MAV tokens worth $50,000.

To verify task completion, users need to click on the "Verify task status" button on the activity page. The maximum reward for eligible participants is set at $30 MAV for on-chain swap transactions and $50 MAV for liquidity supply transactions.

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Distribution Details

Binance will distribute prizes based on the MAV/USDT spot trading pair's closing price on January 1, 2024, at 23:59 UTC (0.4089). The total prize pool includes network and gas fees incurred during reward distribution.

This airdrop follows Binance's earlier initiative on December 6, where the exchange announced a giveaway of $500,000 worth of cryptocurrencies to eligible users. Rewards ranged from 1 SHIB to 1 BTC, with users required to make a swap using the Binance Web3 wallet to qualify. The airdrop was part of Binance's collaboration with entities such as Maverick Pool, Gala Games, Acala Network, CyberConnect, Chiliz, and others.

Binance's Web3 wallet is a self-custody solution embedded within the platform's application. It allows users to swap thousands of cryptocurrencies across 30+ networks, execute swift fund transfers, explore decentralized applications (dApps), earn yields on holdings, and more.