Binance announces Defi App (HOME) listing and 200m airdrop for BNB holders

Binance is launching a retroactive airdrop for active BNB holders with no new activity needed.

Binance has announced the 22nd project in its HODLers rewards program: the DeFi App (HOME). The airdrop will distribute 200 million HOME tokens to BNB holders who previously used Simple Earn or other on-chain yield programs.

The airdrop is retroactive and applies to users who interacted with yield products on Binance between June 6 and June 9. 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.

Binance Alpha airdrops are increasingly popular

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 subscribe 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.