Airdrop or free distribution is a common and widespread method in the crypto market that provides new projects with the ability to enter the market quickly by free distribution of their coins to users to achieve marketing goals and further decentralization and other goals.
Binance Wiredrop “SOLO”:
Binance announced today via her official blog It will support the “Sologenic” project airdrop and its digital currency (SOLO) for XRP holders.
Binance will start taking snapshots of users’ wallets holding XRP starting on December 24, 2021 at 20:00 (UTC).
The amount of SOLO that will be given to users free of charge to eligible users will be determined according to the following calculation:
Amount Received = Amount of XRP owned at the time of the snapshot / Total XRP held by Binance at the time of the snapshot x total SOLO received by Binance for airdrop.
Additional information about Binance Wiredrop SOLO:
The snapshots that Binance will make include XRP balances in Spot wallets, savings and margin accounts, and futures wallets, and XRP undistributed interest payments will not be included.
Meaning XRP borrowed from margin or crypto loans, or XRP transferred to Spot wallets from these accounts, will not be eligible for airdrops.
Also XRP balances under 10 XRP (including those in trade orders) will not qualify and the amount must be greater than 10 XRP.
Binance will distribute SOLO cryptocurrency after the project finishes distributing SOLO to XRP holders.
Binance will publish an announcement about the completion of the distribution and we will also publish on our part in Arab Bitcoin to keep the Arab user informed of the distribution.
For trading and listing SOLO on Binance, the SOLO cryptocurrency will be subject to the same rigorous existing review process as Binance does with any other coin.
Therefore, it is not guaranteed that Binance will include this coin or not.
Sanctioned persons, entities, and states in the United States are not eligible to receive this airdrop.
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