Binance first Megadrop - Bouncebit

Binance is strongly incentivizing user to stake BNB and use Binance Web3 Wallet by its Launchpool-like program named Megadrop.

From its announcement, How to Get Started With Binance Megadrop*:

• Log into your Binance account.
• Subscribe to BNB Locked Products and/or complete all designated Web3 Quest(s) via Megadrop on the Binance App to accrue scores. To complete Web3 Quests, make sure you have at least one active Binance Web3 Wallet. Create your first Web3 Wallet now if you have not yet done so.
• After completing all the designated Web3 Quest(s), click on the [Verify] button at the Megadrop project page before the Quest Period ends to successfully obtain the Web3 Quest Bonus and Web3 Quest Multiplier.
• Receive Megadrop rewards based on your Total Score.

Here's how to do it in Bouncebit with Binance Web3 Wallet: https://megadrop.bouncebit.io/faq?tab=web3

I've tested the whole process. Everything can be done with mobile app. That's great move to further expand Binance's product to retails.

Binance cancelling MSA fee tier

Binance is going to terminate the fee tier inheritance of Managed Sub-Account (MSA), which basically kills the MSA function. Below is part of the original text sent to clients:

Beginning with the week cycle of 04/29, all active MSA accounts will be subject to the same fees as investors participating in the Binance Futures Liquidity Program, including the USDⓈ-M Futures Maker, Taker, and COIN-M Futures Maker Program.

By mid-May, we will update the VIP level and base fees for all active MSA accounts to align with those of investors. This change will also apply to the Spot Maker Liquidity Program and other relevant fee adjustments. Please note that until this time, the trading volume generated by your MSA will continue to contribute to the trading team's total trading volume calculation.

In 2 days of the announcement, likely due to strong push back from clients, Binance team made another round of announcement to clients, stating above dates (04/29, and mid-May) will be postponed to June 30.

1. Starting from 1 July: MSA will be subject to the same fees as investors, including:

• UM MM
• CM MM
• UM Taker Program

2. MSA VIP level and base fees will align with investors, including:

• VIP Level
• Spot MM
• and other relevant fee adjustments.

Deribit FalconX off-exchange

https://twitter.com/DeribitExchange/status/1782740575994712363

Cryptocurrency trading firm FalconX has introduced a new prime brokerage service to allow institutions to trade on exchanges while their funds remain in regulated, bankruptcy-remote custody.

FalconX’s Prime Connect, unveiled on Tuesday, also includes post-trade settlement, institutional-grade credit, and portfolio margining, the company said in a press release shared with CoinDesk. Deribit, the world's leading crypto options exchange, is the first to integrate FalconX's prime broking and custody solution.

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