Binance Alpha Points' Shura Field ': A Web3 Wallet War that Swallows 90% of the Market Share According to Dune data, as of May 12th, the trading volume market share of Binance Web3 Wallet @ BinanceWallet has soared to 95.7%, far exceeding the 54% in March. During the same period, OKX suspended its DEX aggregator service, causing its market share to plummet from nearly 50% to 3.6%. Binance took advantage of the situation and launched the Alpha 2.0 beta version, quickly seizing the market. And 'Alpha Points Airdrop' is the core weapon driving this explosion. Alpha incentivizes users to trade daily and maintain asset balances through a refined points mechanism, with clear airdrop thresholds and opportunities for later releases, attracting users to rush to the top in batches. Along with token airdrops such as GM, the trading volume of Binance Wallet surged 27 times in the short term, driving BNB Chain TVL to increase by over 6 billion US dollars and active addresses to exceed 2 million, forming the "Alpha BNB flywheel effect". But this mechanism has also become an "involution cultivation field": new users who want to meet the standards to participate in airdrops need to trade over a thousand US dollars per day, hold over a thousand positions, and have a net return rate of about 2%, not including gas and slippage. There are also a large number of hair removal studios running accounts in bulk, causing the airdrop cost to continue to rise, leaving ordinary users exhausted. Although Alpha gameplay has sparked a craze, it is essentially similar to early trading mining: using incentives to stimulate on chain trading activity. But it also exposes the double-edged nature of the new Web3 growth model - short-term bursts are easy, long-term persistence is difficult. With Bybit and OKX following up with similar incentive mechanisms, the Web3 wallet market is brewing a new round of traffic wars. Alpha is a gold rush and a low-cost traffic alchemy worth referencing for all project parties. For projects with expected airdrops, Binance Alpha is definitely a cost-effective deal to accomplish big things with small amounts of money. @binance @cz_binance @heyibinance @binancezh