- Binance, the world’s largest cryptocurrency exchange, has announced its second altcoin project under the new token launch platform Megadrop.
- The project, named Lista (LISTA), is a liquid staking and decentralized stablecoin protocol.
- Binance has also made changes to its coin-margined futures liquidity provider program and launched locked products for USDT.
Discover the latest developments in Binance’s Megadrop platform, including the introduction of Lista and significant updates to their liquidity provider program.
Binance Introduces Lista as Part of Megadrop
Binance, a leading cryptocurrency exchange, has unveiled Lista (LISTA) as the second project on its new token launch platform, Megadrop. This announcement follows the recent launch of Megadrop, which aims to revolutionize the airdrop experience by integrating with Binance Simple Earn and Binance Web3 Wallet. Lista will have a total supply of 1 billion LISTA tokens, with no pre-sale events planned. Binance will announce the official listing date in a separate communication.
Unique Participation Mechanism
Notably, 10% of the total supply (100 million tokens) will be allocated as rewards through the Megadrop program. Users can participate in Megadrop by staking Binance Coin (BNB) or completing specific Web3 tasks via the Binance Web3 Wallet. This innovative approach allows users early access to promising Web3 projects before their official launch on the exchange.
Changes in the Liquidity Provider Program
In another announcement, Binance detailed changes to its Coin-Margined Futures Liquidity Provider Program. Effective from June 17, 2024, the “Quote Ranking” review criteria will be removed from the qualification process. Additionally, Maker Fees for Tier 3 Liquidity Providers in Coin-M Futures will be adjusted to -0.012% until June 25, 2024.
Simplified Qualification Structure
The Coin-M Futures Liquidity Provider Program will now operate under a simplified qualification structure based on weekly Coin-M Futures Maker Volume percentages. Users can qualify for different tiers (with varying fee discounts) by meeting specific volume thresholds. Those with a futures trading volume equivalent to $100 million or a spot trading volume equivalent to $20 million over 30 days can apply for the program. Tier 3 Maker Fee discounts will include a three-week grace period.
Launch of Locked USDT Products
Finally, Binance Simple Earn has introduced Locked Products for USDT, offering a fixed rate on deposits. Users can enjoy an APR of 8.23% by subscribing to USDT Locked Products under Simple Earn from today.
Conclusion
Binance continues to innovate and expand its offerings with the introduction of Lista on the Megadrop platform, significant updates to its liquidity provider program, and the launch of locked USDT products. These developments provide users with new opportunities to engage with the cryptocurrency market and benefit from Binance’s evolving ecosystem.
