Binance is courting BNB token holders with a fresh airdrop initiative, following revelations that Changpeng Zhao holds a dominant 60% of the token’s available supply.
The exchange announced the program on its website this Wednesday, targeting Binance Coin (BNB) holders to promote a “robust and enduring market ecosystem.”
Dubbed the HODLer Airdrops, the scheme promises to distribute tokens from projects with substantial circulating supplies poised for imminent listing on Binance. The sole prerequisite for BNB holders is enrollment in Binance’s Simple Earn lending scheme and the commitment of their tokens.
While the specific tokens designated for airdrop to Simple Earn participants remain undisclosed, Binance aims to collaborate with “modest to mid-sized ventures with solid foundations, extensive circulating supplies, and vibrant, grassroots communities.”
To partake, BNB holders must undergo KYC (Know Your Customer) procedures. Binance further specifies that eligibility is contingent upon the participant’s “geographical location,” though details are scant.
This initiative follows reports that Binance’s founder, Changpeng Zhao—who was recently sentenced to a four-month prison term for money laundering offenses—possesses 64% of BNB’s circulating supply, equating to control over tokens valued at over $56 billion.
An exposé by Forbes disclosed that the 2017 initial coin offering (ICO) for BNB was “underfilled,” leading Zhao and his enterprise to “redirect unsold tokens into wallets under his management.” Binance has yet to issue a formal response to the allegations presented by Forbes.