Binance Futures Hosts Trading Competition Worth $1M
Global crypto exchange platform Binance announced last week that it would have a trading competition where members could compete in groups and win a prize pool of up to $1 million in BNB tokens.
As per the announcement, the competition will occur between April 10 and April 25 and will happen in two different ways: day by day ROI and by and large USDT group benefit competitions.
Binance clarifies that all groups that trade in perpetual contracts on Binance Futures during the competition time frame will be positioned depending on the absolute USDT benefit of the group, which compares to the sum of the primary 10 individual outcomes inside the group.
The exchange platform includes more details on how the $ 1M prize pool in BNB tokens will be divided: The first spot will get 30% of the absolute prize. The second and third spots will each get 20% of the complete prize. Fourth to tenth spot will get the remaining 40%.
Among different conditions, Binance says that the distributions of the compensations inside each group will be made on the premise that each group chief will get 30% of their group’s total reward.
The best 10 individual USDT benefit contributors will get the 20% split equally, while the other colleagues will get the remaining part.
Binance explained that team members must enlist for the competition between March 26 to April 10, further clarifying that there will be no changes after the enrollment time frame has elapsed.
Moreover, a “bonus popularity” grant of USD 5,000 in BNB tokens will be granted to that team lead with the biggest group.