Binance, the world’s largest cryptocurrency exchange, announced its 2nd altcoin project within the scope of its new token issuance platform Megadrop. The liquid staking and decentralized stablecoin protocol named Lista (LISTA) was selected as the second project on the platform on May 23. Meanwhile, the exchange has made changes to its coin-margin futures liquidity provider program. It also announced the launch of locked products for USDT. Here are the details…
Binance chooses Lista as part of Megadrop
Binance, the world’s leading cryptocurrency exchange, announced the liquid staking and decentralized stablecoin protocol Lista (LISTA) as the second project of its new token launch platform Megadrop. This news 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 be listed primarily on Binance with a total supply of 1 billion LISTA tokens. Binance has clearly said that there will be no presale of LISTA. The exchange will announce the official listing date in a separate announcement.
Specifically, 10% of the 1 billion supply (100 million tokens) will be allocated as rewards through the Megadrop program. Users can participate in Megadrop by staking BNB (Binance Coin) or completing designated Web3 tasks in their Binance Web3 Wallet. This unique approach allows users to gain early access to promising Web3 projects before they are officially launched on the exchange.
Changes in the liquidity provider program
In another announcement, the exchange also detailed upcoming changes to the Binance Coin Margined Futures Liquidity Provider Program. Effective June 17, 2024, the “Citation Ranking” review criteria will be removed from the qualification process. Additionally, Maker Fees on Coin-M Futures for Tier 3 Liquidity Providers will be adjusted to -0.012% through June 25, 2024.
The Coin Margined Futures Liquidity Provider Program will now operate under a simplified qualification structure based on weekly Coin-M Futures Making Volume percentage. Users can qualify for different tiers (with varying fee discounts) by meeting certain volume thresholds. Individuals whose forward trading volume exceeds the equivalent of 100 million US dollars or whose spot trading volume exceeds the equivalent of 20 million US dollars for 30 days can apply for the program. They can get a three-week grace period with Tier 3 maker fee reductions.
Launch locked USDT products
Finally, Binance Simple Earn launched USDT in Locked Products, providing a fixed rate for your deposits. You can top up USDT subscriptions on Simple Earnings Locked Products starting today to enjoy 8.23 percent APR.
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Binance Made 3 New Announcements: Announced the Second Altcoin Selection in Megadrop!