DeFi Trading Competition on Binance Futures launched: Surplus BNB to be won

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Today has been a very good and exciting day for some cryptocurrency traders as there has been a huge pump in bitcoin and other alt coins. Bitcoin moved all the way from $9100 support to $9600. Ethereum on the other hand joined in the alt coins pump reaching $280 today. And they are still looking bullish but its best to not fomo.

Most times, all we need in the trading business is patience. Some traders are just too impatient and it has often led them to losing their funds or making very little gains. But all the same, we need to trade with caution.

Coming back to our subject matter which is defi and the defi trading competition launched on Binance Futures, we see that Defi is a big plus to the cryptocurrency space. Defi as we all know refers to decentralized finance and there are a lot of them like Compound (Comp), lend, Makerdao etc. Majority of these Defis are being built on Ethereum and then EOS.

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So, while going through the latest announcements and news page on binance, I came across the defi trading competition so I decided to share.

The competition which is particularly on binance futures trading starts on the 24th of JULY and ends on the 31st of July 2020.

Campaign starts 2020/07/24 0:00 (UTC) - 2020/07/31 0:00 (UTC)

The competition is in different categories and having different prizes to be won.

Competition section A: Trade DeFi tokens on Binance Futures to Win 10,000 USD in BNB!

In this category, users that complete 20,000 USDT or more trading volume in the perpetual or quarterly futures trading pairs below during the competition period will equally split 10,000 USD in BNB tokens.

The concerned perpetual contracts are ETH/USDT, LINK/USDT, COMP/USDT, KNC/USDT, LEND/USDT, ZRX/USDT while the Quarterly contracts are ETH/USD, LINK/USD.

According to the news,

Trading volume completed in the ETH/USD, LINK/USD Quarterly contracts will be multiplied by a coefficient of 2 when calculating the final trading volume for the activity.


Competition promotion B: Here, the competition is about guessing the Best or Worst Performing Trading Pairs to Split 10,000 USD in BNB Tokens!

Now, there will be most traded contract as well as least traded contracts. Users that successfully trade 10,000 USDT or more of the Most popular trading pair or the Least Popular Trading Pair during the promotion period will equally split a total prize pool of 10,000 USD in BNB tokens.

The competition looks quite interesting but one needs to be warned that futures trading has a high risk factor. While you can make large gains via leveraging, you can equally record significantly losses.

For more information about the contest, visit the Binance announcement page here..

https://www.binance.com/en/support/articles/b05d00bf19d24a30956d34a6e5c9bec5-Binance-Futures-Launches-DeFi-Trading-Competition

Posted Using LeoFinance



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