Participate in the Proof of Keys Airdrop initiative on our site's platform
The Binance Alpha team has announced the launch of the Proof of Keys Airdrop program, a unique initiative aimed at rewarding users who demonstrate self-custody of Binance Alpha Points (SHM) over a 30-day period. This program, inspired by Trace Mayer's original Proof of Keys campaign for Bitcoin, promotes decentralization, financial sovereignty, and permissionless access.
Eligibility and Requirements
To participate in the Proof of Keys Airdrop program, users must hold SHM in a self-custodial wallet, such as MetaMask, and register on the program page. A minimum balance of 100 SHM is required to qualify for the program. Custodial/exchange wallets are not eligible for the airdrop.
Users must maintain a minimum balance of SHM during the 30-day holding period to be eligible for rewards. The rewards are calculated based on the lowest SHM balance held in the wallet during this period. It's essential to note that users are free to use their SHM during the holding period, but balance changes may impact their airdrop.
Reward Structure
The Proof of Keys Airdrop program is part of Binance’s HODLer Airdrop initiative, where free PROVE tokens are distributed. The total allocation for eligible BNB holders and Binance Alpha Point holders is 15 million PROVE tokens.
The airdrop operates on a first-come, first-served basis during the lower threshold period, incentivizing quick action. Each claim consumes 15 Alpha Points. The minimum threshold for eligibility decreases dynamically based on demand and time, with a starting requirement of 241 Alpha Points during the first 18 hours, lowering to 200 points in the last 6 hours, and continuing to decrease by 15 points per hour until all rewards are claimed or the 24-hour window closes.
Important Considerations
Airdropped SHM tokens are provided as a community incentive and do not constitute an offer of securities or financial products. Participants are responsible for complying with their local laws and tax regulations.
The Proof of Keys Airdrop program does not endorse or take responsibility for third-party service providers. Wallets earning over 1,000 USDC in SHM rewards may be asked to complete KYC to ensure fairness and prevent abuse.
The distribution schedule for the airdrop will be communicated in an upcoming update. It is not specified whether users running a node on the website can participate in the Proof of Keys Airdrop program. The program may be modified, paused, or terminated at any time at the website's discretion.
In conclusion, the Proof of Keys airdrop offers an exciting opportunity for self-custodial wallet holders to engage with the Binance Alpha community and potentially earn rewards. By encouraging swift participation and long-term holding, this program aligns with Binance’s broader strategy of fostering early adoption of emerging crypto projects.
Technology plays a significant role in the Proof of Keys Airdrop program, as users must use self-custodial wallets like MetaMask to participate. The airdrop is part of Binance's HODLer Airdrop initiative, which leverages technology to distribute free PROVE tokens.
