Binance is launching a retroactive airdrop for active BNB holders

Binance has announced the 22nd project in its HODLers rewards program: the DeFi App (HOME).

Binance, a leading cryptocurrency exchange, is launching a retroactive airdrop for active BNB holders with no new activity required. The 22nd project in its HOTLers rewards program will see the DeFi App (HOME) token being distributed to BNB holders who previously used Simple Earn or other on-chain yield programs.

According to a recent announcement, the airdrop page will be available on the Binance Airdrop Portal in 5 hours. The token will also be listed on Binance soon.

The airdrop is retroactive and applies to users who interacted with yield products on Binance between June 6 and June 9. The distribution begins on June 12, after which the token will transition from Binance Alpha to the main exchange.

According to its developers, the HOME token, also known as DeFi App, is designed to make decentralized finance more accessible. It features gasless transactions across multiple blockchains and avoids the use of cross-chain bridges. The project also claims to offer full user custody over tokens.

DeFi App reported on June 10 that it had processed $15 billion in trading volume and attracted nearly 400,000 users since launch.

The move is part of the Binance HODLer Airdrops program, which makes active users eligible for rewards based on their BNB (BNB) balances. Specifically, users who subscribed their BNB to Simple Earn are automatically eligible for the airdrops.

Binance has positioned the program as a user acquisition strategy. Data shows the Binance wallet has recently surpassed MetaMask and OKX in user volume, a trend some observers attribute to the Alpha rewards program.

However, the strategy is not without controversy. Namely, some Binance users are complaining that Alpha users are getting all rewards, while testnet users are getting overlooked. Disgruntled users even started a #StopBinanceAlpha hashtag on X.