A leading cryptocurrency exchange – Binance – is taking measures to promote its recently launched decentralized trading platform. The company is carrying out a campaign holding a competition for traders with the prize pool of 10,000 BNB.
As the company noted in the announcement, it will launch a competition on the testnet Binance DEX, that is aimed at boosting "awareness of Binance DEX within the Binance Chain community."
The competition sponsored by Binance will represent simulated trading on the testnet. Every user of the main platform can take part in the competition, but the required measures are at least 1 BNB on the account balance.
According to the announcement:
"Each Binance.com account is able to register a maximum of 20 Binance Chain addresses and will receive 200 virtual testnet BNB tokens to each address to use as their starting funds before the Binance DEX trading competition begins."
The "game" will start on March 7 and last till March 21.
"All data on the Binance Chain testnet will reset right before 08:00 AM (UTC) on March 7, with all existing asset balances being cleared. After the reset occurs, the competition will begin," as the company notified the users.
The competition will consist of two phases. The first phase called "Token Competition for Healthy Price Volatility" will allow users to enjoy only token/BNB pairs. The award for the first place is 3,000 real BNB. The second phase "Absolute Return Competition" will determine the winner in terms of absolute income after trading. The award is 1,000 BNB.
More details regarding the competition terms are given in the announcement on the company website.
As it was reported earlier, Binance launched public trials of the platform in late February.