From volume-boosting competition to contribution distribution, what is the underlying logic of Binance Alpha?

This year, Binance Wallet launched TGE mining, which has achieved a very successful marketing campaign in the Web3 wallet track. Since Binance Wallet launched TGE mining, Binance Web3 Wallet has once become the most popular Web3 wallet, and its transaction volume and market share have also topped the list.

For participating users, participating in Binance Web3 Wallet's TGE or Alpha airdrops has also received generous rewards. For example, the airdrop income of $NXPC on May 15 reached about 600U per order. From May 1 to May 15, Binance Alpha and TGE launched 10 projects, and the cumulative income of the order exceeded 1300U.

At present, the rule that points need to be consumed to receive airdrops or TGE rewards has also been launched and implemented. Alpha points have more ways to play, and discussions about Binance Alpha points are endless, with mixed praise and criticism in the community. After clearing away the noise, we can see the win-win situation of users, project owners, and the platform under this set of rules, as well as the reference significance that Binance's innovation brings to the entire industry.

Generous returns only for the most loyal users

Since the introduction of Binance Alpha Points Rules, its related topics have become one of the hottest topics in the community. In order to meet the points requirements, participants need to actively participate in the trading of Alpha tokens every day, which is also ridiculed by people as participating in the "Adult College Entrance Examination".

And it is precisely because of the generous rewards that more and more people participate, and the points requirements are also rising. The endless "swiping points" has dissuaded many people.

But despite the controversy, the unexpected returns of each Binance Alpha airdrop and TGE still attract loyal users to continue to participate. It can be said that the Alpha points rule is essentially a means for the platform to screen loyal users.

Golden Finance has counted the specific revenue of Binance Alpha airdrop and TGE project from May 1 to May 15, as follows:

100U

From the above summary, it can be seen that if users meet the Alpha points requirements every period, the overall benefits they can obtain are very considerable. In the first 15 days of May, if the points requirements are met every time, an account will receive a total of more than 1,300U (sold on the same day) in rewards. Such a generous reward has far exceeded the average salary of Chinese people.

It is precisely because of the lucrative benefits that more and more users have participated. Correspondingly, the points required to obtain rewards are getting higher and higher.

The higher points requirements will undoubtedly discourage some people from participating. To this end, the Binance team has launched a targeted strategy for point consumption.

To be precise, from May 13, users need to consume points to participate in the exclusive Alpha TGE or airdrop. As of the 16th, users need to consume 15 points each time they participate in Binance Alpha or TGE activities.

Alpha points are distributed based on the daily asset snapshots and the value of the traded Alpha tokens. The qualification for each airdrop or TGE is calculated based on the accumulated points of the past 15 days.

In other words, since the introduction of the point consumption qualification, users need to judge the value of the airdrop or TGE project each time, and then decide whether to consume points to obtain the rewards of their projects.

Reshaping the blockchain spirit of distribution according to contribution

At first, after Binance launched Alpha points, there was a lot of controversy in the community. Because this makes the threshold for receiving airdrops and participating in TGE higher and higher.

But one undeniable fact is that after the introduction of Binance Alpha points rules, the rules for users to obtain TGE or Alpha airdrop rewards are increasingly in line with the blockchain spirit-distribution according to contribution. Whether or not to receive rewards depends on the user's contribution to the entire Binance ecosystem. And Alpha points are the standard for measuring contributions.

In this cycle when the airdrop track in the currency circle is increasingly declining, Binance has gathered TGE and Alpha projects on its platform, which undoubtedly saves users a lot of time in screening projects by themselves. Just hold BNB and participate in the interaction of Binance Alpha tokens to get rich rewards.

For users, platforms and major project parties, this is a win-win situation. Users received generous rewards, Binance earned traffic and fees, the project received publicity, and users traded Apha tokens to get higher points, which also made the Alpha tokens more liquid.

After the introduction of the points consumption rule, the Binance ecosystem has developed into a more virtuous cycle. Because points are limited, previously, large investors with large enough funds could actually participate less in the interaction of Alpha tokens to earn points. The current point consumption makes points have a real value similar to "transactions". The billing consumption mechanism undoubtedly puts large and small retail investors on a fairer starting line when receiving airdrops or TGEs. For users, they will definitely have to go through a pain in the short term. But this is undoubtedly a rule that will benefit retail investors in the long run.

Not only giving benefits to users, but also actively educating users

At first, Binance's Alpha airdrop and TGE activities only required holding BNB. Later, Alpha points requirements were introduced one after another, and each time a reward was claimed, a certain amount of points were required. This is actually cultivating the habit of users to participate in the chain and their investment ability to evaluate and analyze projects by themselves.

From this point of view, Binance has always been at the forefront of educating users. Giving users regular rewards is not only giving benefits to users, but also cultivating loyal participants and builders for the Web3 industry.

Users study projects and make careful decisions, which also reduces the pressure on the platform to endorse projects. The project party still has to do more marketing and improve the quality of the project. This ultimately forms a virtuous circle of win-win for users, platforms, and project parties.

Another noteworthy innovation of Binance Alpha Points is that in recent Alpha airdrops or TGEs, in addition to the equal points requirements, blind box gameplay has also been incorporated. Specifically, a Binance UID tail number is randomly selected in each issue, and the points requirements for users with that tail number are lowered so that they can receive rewards.

This creates a sense of joy for users of surprise random drops, and also gives users the motivation to continue to "brush points". Fun is always an important driving force for human behavior.

From the initial Launchpad to the later BSC exchange public chain, Binance has led the trend of exchanges to build public chains. Later, the launch of the exchange Launchpool and the introduction of the Alpha points rules this time reflect that Binance has always been at the forefront of industry innovation and has bravely stood at the forefront of industry development.

After the introduction of its Alpha points rules this time, peers in the exchange have followed suit. For the industry, providing a new paradigm and gameplay is also the responsibility of the industry development that it shoulders as the industry leader.

Looking to the future, I believe that Alpha Points will introduce more gameplay and rules, and it will play an increasingly important role in Binance's ecological construction.