Binance said in a blog post that it will airdrop USD 100 worth of BNB tokens to all users who completed their proof of address (POA) verification in Libya, in response to the devastation caused by recent floods.
Identification of eligible users will be based on their completion of a POA before September 11, 2023, nationwide.
Binance users who completed the POA before September 11 will receive USD 100 in BNB tokens directly to their Binance accounts. Binance will donate USD 25 in BNB tokens to the accounts of any existing users who completed their POA between September 11 and 30, 2023. Additionally, all active users transacting in Libya will receive USD 10 in BNB tokens. Binance began distributing these funds from September 13.
Binance will allocate up to USD 500,000 in BNB tokens to directly assist approximately 13,000 users through this initiative. Although the POA method has some limitations and inaccuracies, it currently represents the best available means of identifying potentially affected users, Binance Charity said.
In the wake of natural disasters, individuals often lose access to traditional banking services at a time when additional funds are needed to provide basic supplies, such as medical supplies and food. Cryptocurrency transfers have become an increasingly popular way of providing financial assistance to disaster victims due to their speed, low costs, borderless nature, and transparent transactions.
Binance Charity has also provided a public donation address to receive contributions. All proceeds received at this address will be fully donated to an approved NGO (the name of which will be disclosed shortly) to aid those in need. Donations can be made in various cryptocurrencies including BNB, BTC, ETH, USDC, USDT or BUSD.
Binance recently expanded its support for users in Ukraine, Turkey, and Morocco struck by natural calamities.
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