Binance Alpha Clarifies MarsCoin Reward Arrangement: Binance Wallet Holders to Receive Automatic Distribution, CEX Users to Receive SPCXB Based on Holdings

BlockBeats News, August 4th, according to official sources, Binance Alpha issued a statement clarifying the reward distribution arrangement for MarsCoin holders, stating that for Binance Wallet holders: the reward will be automatically distributed to users' on-chain Binance Wallet addresses by Flap according to its allocation rules. For Alpha 2.0 holders (CEX): since Flap's reward will be distributed to the Binance Alpha Treasury contract address, Binance Alpha will calculate rewards based on users' monthly average holdings and take a daily random snapshot.

Users must maintain an average monthly holding of at least 10,000 MarsCoin to be eligible. The previous month's reward will be distributed in the form of SPCXB at the beginning of the following month to eligible users' spot accounts. Eligibility for receiving rewards is subject to product-specific and jurisdictional restrictions, including whether users are eligible to access bStocks on Binance.

The reward distribution is set by the token deployer in the token contract using the Flap standard token issuance platform infrastructure. Binance only serves as the distribution coordinator for eligible holders on its platform.