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Binance Announces 8th Round of ‘Binance Community Coin Vote’

Crypto exchange Binance announced the 8th round of the ‘Binance Community Vote’ on Monday. The community will vote in Round 8 to choose between SWFT Coin (SWFTC) and Chromia (CHR). As per the official post on the Binance website, the voting will go live for 24 hours, starting at 4:00 am on May 06, 2020.

The number of votes a user will be entitled to will depend on the last 8-day average of the Binance Coin holdings. If SWFT Coin wins the election, a total reward pool of 165,000,000 SWFT will be divided among the users on the basis of the number of votes each participant has, and if Chromia wins, a total reward pool of 13,500,000 will be distributed.

Interestingly, users who voted for the runner up will also receive a total reward of 3,100 BNB to be distributed in the ratio of the number of votes per participant. The terms & conditions for participation are as follow:

  1. “We will endeavour to list the winning project’s token within a reasonable time frame after the vote, pending wallet and tech integration for the coin.
  2. Users will only be able to choose one project to contribute all their votes to. You cannot vote for both projects.
  3. Rewards will be issued within 2 weeks after the vote ends.
  4. Binance reserves all rights to change the rules of this event without notification, including revoking the results suspected of vote manipulation.”
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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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