From competition for brush volume to distribution of contributions, what is the underlying logic of Binance Alpha?

This year, Binance Wallet launched TGE mining, which made a very successful marketing game in the Web3 Wallet track. Since Binance Wallet launched TGE mining, Binance Web3 Wallet once ranked the most popular Web3 Wallet, and its transaction volume and market share once ranked first.

For participating users, participating in the TGE or Alpha airdrop of Binance Web3 wallet has also received generous rewards. For example, the airdrop income of $NXPC on May 15 reached about 600U. In the fifteen days from May 1 to May 15, Binance Alpha and TGE launched 10 projects, with the cumulative income of the single number exceeding 1,300U.

At present, the rules for consuming points for receiving airdrops or TGE rewards have also been launched and implemented. Alpha points have more ways to play, and there are endless discussions about Binance Alpha points, and there are mixed opinions in the community. But after clearing the noise, you can see the three wins of users, project parties, and platforms under this set of rules, as well as the reference significance brought to the entire industry by Binance's innovation.

Great benefits only for the most loyal users

Since the launch 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 transaction of Alpha tokens every day, which has also been ridiculed as participating in the "adult college entrance examination".

It is precisely because of the generous rewards that more and more people are participating, and the points requirements are also rising. The endless "scoring points" has persuaded many people to be abandoned.

But under the controversy, the over-expected returns of Binance Alpha Airdrop and TGE in each issue still attract loyal users to continue to join in. 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 income of Binance Alpha airdrop and TGE projects from May 1 to May 15, as follows:

Project name

|

Tokens

|

Activity Type

|

Online time

|

Points Requirements

|

Revenue on the day of online launch (rough estimate)

|

Points consumption

---|---|---|---|---|---|---

NEXPACE

|

NXPC

|

airdrop

|

May 15

|

187

|

650U

|

15

Privasea AI

|

PRRI

|

TGE

|

May 14

|

198

|

80U

|

15

RDAC

|

RDAC

|

airdrop

|

May 13

|

205

|

70U

|

15

PUFFER

|

PUFFER

|

airdrop

|

May 12

|

186

|

100U

|

DOOD

|

DOOD

|

airdrop

|

May 9

|

168

|

80U

|

STX

|

STX

|

airdrop

|

May 8

|

150

|

70U

|

OBOL

|

OBOL

|

airdrop

|

May 7

|

153

|

45U

|

ZKJ

|

ZKJ

|

airdrop

|

May 7

|

142

|

100U

|

MXY

|

MXY

|

TGE

|

May 6

|

142

|

55U

|

BOOP

|

BOOP

|

airdrop

|

May 5

|

137

|

90U

|

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

It is precisely because of the huge profits that more and more users have participated. The requirements for getting points required to receive rewards are getting higher and higher.

The higher the points requirements will undoubtedly dispel some people's enthusiasm for participation. To this end, the Binance team has launched a targeted strategy for point consumption.

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

Alpha points are distributed based on the daily asset snapshot and the value of transactional Alpha tokens. Each airdrop or TGE qualification is calculated based on the accumulated points in the past 15 days.

In other words, since the point consumption qualification is launched, users need to make a judgment on the value of airdrops or TGE projects each time, and then decide whether to consume points to get rewards for their projects.

Reshaping the spirit of blockchain distributed by contribution

At the earliest, 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 launch of Binance Alpha points rules, the rules for users to receive TGE or Alpha airdrop rewards are becoming increasingly in line with the spirit of blockchain - distribution according to contributions. Whether the reward can be obtained is determined by the user's contribution to the entire Binance ecosystem. Alpha points are the criterion for measuring contributions.

In this cycle of declining airdrop track in the currency circle, Binance has converged TGE and Alpha projects on its platform, which undoubtedly saves a lot of time for users to filter their own options. Just hold BNB and participate in the interaction of Binance Alpha tokens and you can get a generous reward.

This is a win-win situation for users, platforms and major project parties. Users received generous rewards, Binance platform earned traffic and handling fees, project parties received publicity and exposure, and users traded Apha tokens in order to get higher points, which also allowed the Alpha sector tokens to be liquid.

After the points consumption rules were introduced, the Binance ecosystem has developed towards a more virtuous cycle. Because points are limited, large investors with large funds can actually participate less in the interaction of Alpha tokens to earn points. The current point consumption gives points a real "transaction" value. The billing consumption mechanism undoubtedly allows large and small retail investors to stand on a fairer starting line when collecting airdrops or TGE. For users, it will definitely require a pain in the short term. But this is undoubtedly a rule that benefits retail investors in the long run.

Not only to benefit users, but also to actively educate users

At first, Binance's Alpha Airdrop and TGE activities only required BNB, and subsequently launched Alpha Points requirements, and then each reward was collected to consume a certain amount of points. This is actually to cultivate the habit of participating in the user chain and the investment ability to evaluate and analyze the project by yourself.

From this point of view, Binance has always been at the forefront of educating users. The regular rewards given to users are not only to benefit users, but also to cultivate loyal participants and builders for the Web3 industry.

Users study projects and make prudent decisions, which also reduces the platform's endorsement pressure on projects. Project parties still have to do more marketing and improve project quality. This ultimately forms a virtuous cycle of win-win results for users, platforms and project parties.

Another innovation worth paying attention to in Binance Alpha points is that when issuing Alpha airdrops or TGEs in recent times, in addition to the equal points requirements, blind box gameplay is also incorporated. Specifically, a Binance UID tail number is randomly selected for each issue to reduce the point requirements for users of the tail number so that they can get rewards.

This creates a sense of joy for users to fall surprises randomly, and also gives users the motivation to continue to "sweep points". Fun is always an important driving force for human behavior.

From the initial Launchpad to the later BSC exchange public chain, Binance led the trend of exchange public chains. Later, the launch of the exchange Launchpool and the launch of the Alpha Points Rules reflect that Binance has always been at the forefront of industry innovation and is also brave enough to stand at the bow of industry development.

After the launch of its Alpha points rules, its exchange peers also followed suit. For the industry, providing a new paradigm and gameplay is also the responsibility of industry development as the industry leader.

Looking ahead, I believe that Alpha points will introduce more gameplay and rules, which will also play an increasingly important role in Binance's ecological construction.