Binance Wallet has captured the lion’s share of on-chain trading activity with the launch of its Alpha Points mechanic. Users who trade on Binance Alpha and keep funds in the exchange’s ecosystem earn points. The points can then be used to participate in TGE and receive aidrops.
In recent weeks, the Binance wallet has seen up to 80% of decentralized trading volume concentrated in popular Web3 wallets. This increase in activity is due to the launch of a gamified rewards system.
At the end of April, the largest crypto exchange introduced a new system for participating in TGE via Binance Wallet and receiving airdrops – Alpha Points. Since then, in order to earn money on activities, you need to accumulate a certain number of points. And the threshold has been steadily increasing: first it was 45 points, then 65, then 137, and so on up to 205.
Binance Alpha Points is a points system that reflects a user’s activity in the Binance Alpha ecosystem and Binance Wallet. These points affect the ability to participate in various campaigns, including Token Generation Events (TGE) and Alpha token airdrops.
Alpha Points are accrued daily and are dependent on:
- Asset balance (Balance Points)
- the volume of Alpha tokens purchased on the exchange and in the Binance wallet (Volume Points).
The total value of Alpha Points is the cumulative sum of daily points for the last 15 days.
The scoring for asset holdings is as follows:
- $100-1000 – 1 point;
- $1000-10 000 – 2;
- $10 000-100 000 – 3;
- $100,000 and above – 4.
For trading, each additional point is awarded for doubling the trading volume. The scheme looks like this:
- 1 point is given for trading volume of $2;
- $4 – 2;
- $8 – 3;
- for $16 – 4;
- for $32 – 5, etc.
Accumulated points can be viewed on the Binance mobile app by searching for Alpha Points:
Points are awarded daily for activity during the last 15 days. Points older than that are automatically deducted.
To receive 180 points you need to keep between $1000 and $10,000 on the exchange and make transactions for at least $1024.
In addition, the Alpha Point deduction mechanism has been introduced – 15 points are deducted for participating in TGE or receiving an airdrop.
How much you can earn and what the risks are?
TGE and Airdrop rewards vary from campaign to campaign. On May 15th, users with 187 or more points received 198 NXPC tokens – $724 at the time of writing.
On almost all previous occasions, the reward has been much lower – around $100 if assets are sold at the time of receipt. The increased profit from NXPC is due to the increase in the token price immediately after the IPO.
In the case of TGE, the profit is often around $50-80. However, in order to participate in the campaign, you must use up to three BNBs, which can lose value.
Additionally, the cost of entry is worth considering. To get 15 points per volume, you will need to exchange $32,768. At the same time, losses due to slippage and commissions will amount to about $10-20, depending on the network and token chosen. To achieve 14 points, the volume of transactions and the associated costs can be halved.
At the same time, there is a high risk of being active for 15 days, burning dozens of dollars on exchanges, but never reaching the necessary level for admission to Airdrop or TGE.
There are users with 246 points in the network. For such a result it is necessary to keep $10,000-100,000 on the exchange and provide trading volume of $8192 or $16,384 every day.
Criticism
The gamified system of earning and spending points to get airdrops has noticeably stimulated trading volumes through the popular exchange’s Web3 wallet. The BNB network is in the highest demand among Binance alpha drop hunters.
Binance Alpha has been criticized for its unfair distribution of tokens: a significant portion of tokens go to exchange users who do not participate in the development of the project and act solely for selfish motives. At the same time, early adopters of the ecosystem are either not rewarded or receive significantly less.
Activity Guide
One of the criteria for getting points is to keep the balance, so you need to determine a convenient amount and not withdraw these funds from the exchange or wallet.
The second criterion is the daily trading volume of Alpha tokens. Let’s consider how to make a purchase on the exchange:
Alpha tokens can also be purchased through the Binance Wallet:
To celebrate the growing Alpha token ecosystem and reward our most active traders, we’re launching a limited-time Binance Alpha Points Promotion starting 2025-05-01 00:00 (UTC).
Recently Binance launched promotion period. Users can earn extra Alpha Points through eligible trades. Specifically:
- BSC Alpha token purchases or
- Limit order purchases of Alpha tokens (on any network)
will be double-counted toward users’ Alpha trading volume.
To participate in the Token Generation Event (TGE) or Alpha token airdrops, you need to have a certain number of points, which the Binance Wallet team will announce in their X (Twitter).
Highlights:
- Holding a balance;
- Buy tokens;
- Collect points;
- Participate in seals and receive drops for points.
