Binance has declared its backing for the Pepper (1000PEPPER) AirDrop for Chiliz (CHZ) holders. Users will have the chance to take part in the AirDrop through four separate snapshots taken on specified dates. Those with CHZ balances above a specific threshold during this process will be qualified to earn 1000PEPPER tokens.
Details of the AirDrop and Set Schedule
The first snapshot will take place on October 10, 2024, followed by the second on October 17, the third on October 24, and the last one on October 31, 2024. Users with less than 100 CHZ during these snapshots will not qualify for the AirDrop. Additionally, CHZ coins involved in open buy/sell orders or in the transfer process will not be counted.
According to the distribution ratio of the AirDrop, for every 1 CHZ held, users will receive 150 1000PEPPER tokens. Binance will meet the technical requirements for participants, and users will not need to perform any actions during the AirDrop process.
Conditions for AirDrop Participation and Distribution Process
During the snapshot, CHZ balances across various wallets, including Spot Wallet, Funding Wallet, Margin Wallet, Simple Earn Flexible Accounts, Flexible Credit, and VIP Credit Accounts, will be considered. However, CHZ coins from USDⓈ-Margin Futures Accounts and those borrowed or used as credit will not be included in the AirDrop.
Borrowed or loaned CHZ coins will also not count. Users with a net CHZ debt in Margin, Credit, or VIP Credit accounts will need to return the 1000PEPPER amount received through the AirDrop. Once all four distributions are completed, Binance will distribute the 1000PEPPER tokens to users in a single batch and will notify them through a new announcement.
The listing of the 1000PEPPER token on Binance will go through the exchange’s standard listing review process, meaning that participation in an AirDrop does not guarantee listing. Furthermore, users must complete account verification (KYC) and be located in a compliant jurisdiction.
Binance added that the deposit and withdrawal of CHZ tokens would not be affected during the AirDrop, and services such as Spot, Margin, and Futures trading will continue uninterrupted.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
