BitTorrent token (BTT) is flying supremely high since it has been introduced by the launchpad of the famously largest cryptocurrency exchange Binance. The massive crypto exchange has just announced an interesting competition on its website.
As the launch of BTT saw enormous success, Binance is all set to organize a trading competition for BitTorrent (BTT) along with the BitTorrent team. The exchange has promised a huge prize of 200,000,000 BTT to give away to its users around the world. The crypto giant will be conducting two different promotions, one is Deposits Promotion, and second is the Trading Competition. Apart from these two, it is also planning to carry out a Lucky Draw. These promotions will start from 2019/02/22 to 2019/03/01, according to the website.
— Binance (@binance) February 21, 2019
In Deposits Promotion, those Binance users having net deposits (Not considering withdrawals) of over 1,500,000 BTT during the promotion period would share a pool of 50,000,000 BTT. In the second promotion which is a trading competition, Binance will give away a whopping 100,000,000 BTT. Here, the top 100 traders will split the amount of 100,000,000 BTT. In this competition, they will decide the share on the basis of the proportion of their BTT trading volume with respect to the total trading volume of the top 100 traders. The total trading volume will count purchases and across any BTT trading pairs.
On the Binance website, the Reward Calculation for each user in the top 100. It shows, “Rewards for each user in the top 100 = (Each user’s total trading volume / Top 100 users’ total trading volume) × 100,000,000 BTT”
Binance is going to make its user base cheery, with an announcement of the Lucky Draw. In this, Binance will choose 50 random but lucky Binancians. Each of them can grab the opportunity to take away 1,000,000 BTT. The criteria to win this lucky draw is that the traders should have traded at least 5,000,000 BTT (including buys and sells) in any BTT trading pairs on Binance exchange platform during the competition period.
The exchange asserts that it will broadcast the lucky draw live on some social media platforms, in order to make sure that the draw is fair and transparent enough.
Notably, the announcement of this competition by Binance came out after Huobi Global kicked off its own trading competition with 100 million BTT in prizes. Currently, BTT has seen an increase of 7% over the last 24 hours.