Binance announced to the world one of the best ways to celebrate the launch of quarterly futures contracts at Binance Futures: Three competitions where $ 200,000 in prizes are played! How?!
New competition at Binance Futures
Recall that on June 11, Binance launched the quarterly Bitcoin futures. For those who don’t know, a future is a vehicle that allows traders to bet on Bitcoin’s expected price for a certain point in the future.
Yes, Binance has been offering futures contracts to its clients since 2019. However, the main difference is that those contracts he offered were perpetual. This means that they could end at any time.
Now, the exchange’s new launch allows traders to purchase quarterly futures ending on the last Friday of the corresponding three-month period.
Something important to celebrate
Obviously this is a great step for Binance and its clients. Therefore, celebrating it with three competitions is a way to promote the use of the platform while the best operators receive rewards. And it’s funny.
The period of the competition will be from 06/20/2020 0:00:00 AM (UTC) to 07/15/2020 0:00:00 AM (UTC).
Binance explains that traders will be ranked based on their total trading (including buying and selling) on all BTC-USD quarterly futures contracts during the competition period.
The winners will win:
- 1st place: USD 30,000 in BNB tokens.
- 2nd place: USD 20,000 in BNB tokens.
- 3rd place: USD 10,000 in BNB tokens.
- From 4th to 10th place: 50,000 USD will be divided equally in BNB tokens.
In this daily competition Binance will award 3,000 USD in prizes. Yes, just as they read it.
Binance explains that “All users with a minimum volume of 10 quarterly BTCUSD contracts ($ 1,000 in BTC) in each qualification period will be entered into a drawing to win $ 1,000 in BNB.”
The qualification time for each day of the competition will be from 0:00:00 AM (UTC) to 11:59:59 PM (UTC), for a total of 15 qualification periods, the first of which will begin on 30 / 06 2020 at 0:00:00 am (UTC).
In this daily competition 3 winners will be drawn randomly in each draw period and each one will receive 1,000 USD in BNB.
This competition will also earn $ 3,000 in BNB every day. To participate, Binance explains that you must have a minimum trading volume of 10 quarterly BTC-USD contracts (1,000 USD in BTC).
So on a daily basis, participants will be ranked based on their daily ROI. Likewise, “Qualification periods for the daily ROI competition will be from 0:00:00 AM (UTC) to 11:59:59 PM (UTC) each day of the competition period, for a total of 15 qualification periods, the first of which will start on 06/30 2020 at 0:00:00 am (UTC) ”.
The reward structure for each of the 15 daily ROI competitions will be:
- 1st place: $ 1,000 in BNB tokens.
- 2nd place: 500 USD in BNB tokens.
- 3rd place: 300 USD in BNB tokens.
- From 4th to 10th place: 1,200 USD will be divided equally in BNB tokens.
If you want to know more about Binance’s terms and conditions for the competition, we invite you to check out his blog post.