Binance Alpha has provided a detailed clarification on how MarsCoin rewards will be distributed, outlining different arrangements for Binance Wallet holders and Alpha 2.0 holders on centralized exchanges (CEX). The announcement, released on August 4, states that Binance Wallet holders will receive their rewards automatically through Flap, which will deliver tokens directly to their on-chain Binance Wallet addresses in line with its allocation rules. For Alpha 2.0 holders on CEX, the process is more complex. Flap will send rewards to the Binance Alpha treasury contract, and Binance Alpha will then calculate each user's reward based on their average monthly holdings, using a random snapshot taken once per day. To qualify, users need to maintain an average monthly balance of at least 10,000 MarsCoin. Rewards from the previous month will be issued as SPCXB and credited to eligible users' spot accounts at the beginning of the next month. Eligibility depends on applicable products and jurisdictions, including whether a user can access bStocks on Binance. The reward allocation is set by the token deployer within the token contract, leveraging Flap's standard infrastructure. Binance's role is limited to coordinating distribution for eligible holders on its platform.
Binance Alpha has clarified how MarsCoin rewards will be distributed, separating the process for Binance Wallet holders and Alpha 2.0 holders on centralized exchanges (CEX).
For Binance Wallet users, rewards will be sent directly to their on-chain Binance Wallet addresses. Flap, the token issuance platform behind the project, will handle the distribution based on its own rules.
Alpha 2.0 holders on CEX face a different path. Since Flap sends rewards to the Binance Alpha treasury contract, Binance Alpha will calculate each user's reward from their average monthly holdings. A random snapshot is taken once per day. A user must keep an average monthly balance of at least 10,000 MarsCoin to qualify. Rewards for the previous month will be issued as SPCXB and deposited into eligible users' spot accounts at the start of the following month.
Eligibility is limited by applicable products and jurisdictions, including whether a user can access bStocks on Binance. The reward allocation is set by the token deployer in the token contract and relies on Flap's standard infrastructure. Binance itself only coordinates the distribution for eligible holders on its platform.
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