Today, the Binance Community Coin Voting for the next project has begun. Binancians have to choose between MBL (MovieBloc) and VIDT (MovieBloc). It will last for only 24 hours until Feb 21st, 4:00 AM (UTC). Chances of winning $300 in tokens are there for the voter if his/her chosen project wins.
Details about the votes:
- The users can cast their votes in a Tweet during the voting period.
- Further, the users’ votes will be weighed as per their average daily BNB balance in the last 6 days.
- The users can choose only one project to vote for voting all their votes.
- If MBL wins in the voting round, then the rewards will be distributed from the reward pool of 110,000,000 MBL. The reward will be calculated on the number of votes cast.
- In case the voting favors VIDT, then the rewards will be distributed from the reward pool of 1,900,000 VIDT. Again the reward for each participant will be calculated based on the number of votes cast in favor of VIDT.
- There is a runner-up reward too of 2,000 BNB. The voters who have voted for the runner up will get too split from the reward pool on the basis of the number of votes cast.
Binance made an official announcement that laid the formula to calculate the airdrop allocation for the winner and the runner up. Here it is:
Airdrop allocation per winning vote = (1 / Total number of votes received by the winner) X Total Airdrop Pool.
Airdrop allocation per runner-up vote = (1 / Total number of votes received by the runner-up) X Runner-up Airdrop Pool.
When will Binance announce the winning project?
Binance has assured a reasonably quick course of action, and within 2 weeks after the end of the vote, the rewards will be issued. This will be prior to the trading of the commencement of the winning token, as per the announcement.