Binance DEX launching trading competition - $100,000 worth BNB for rewards.

[pawanjain]

The most popular exchange Binance is launching their Decentralized trading platform Binance DEX and want some traders to test their platform.
They are launching a testnet trading competition to test Binance DEX and will reward $100,000 equivalent of BNB to traders who participate in it.
The competition starts on March 7 and ends on March 21 and every Binance account that holds at least 1 BNB will be eligible to take part in the competition.

Source: cointelegraph
Link : https://cointelegraph.com/news/binance-offers-token-rewards-for-testing-new-decentralized-platform
Binance thread: https://support.binance.com/hc/en-us/articles/360024724031

[OluwaTosin10]

Binance trading competition is quite a good move: probably to push up the price of the bnb token up
But the price is steady as binance is used for icos

But let’s see, traders better read up terms and conditions before any investment decision is made

[FLHippy]

Am I understand it correctly that holding 1BNB coin will give you 1 Free test net BNB coin that will later be converted to a real one?

[pawanjain]

Am I understand it correctly that holding 1BNB coin will give you 1 Free test net BNB coin that will later be converted to a real one?

That's not correct bud. If you read the whole article carefully you can notice that they have said that holding 1 BNB will make us eligible to take part in the competition.
We will get 200 virtual BNB tokens on the testnet which we can use to test the platform. If we win the competition only then we will get the rewards.

[belli4388]

i knew about the imminent launch of the dex binance but i did not know about the competition, i think i'll read more on the subject and i'll go to buy a bnb

[Teraboy]

Am I understand it correctly that holding 1BNB coin will give you 1 Free test net BNB coin that will later be converted to a real one?

That's not correct bud. If you read the whole article carefully you can notice that they have said that holding 1 BNB will make us eligible to take part in the competition.
We will get 200 virtual BNB tokens on the testnet which we can use to test the platform. If we win the competition only then we will get the rewards.

But i don't understand about if we have created an account on the binance mainnet and do we get virtual altcoin coin? There are some just like ETH.B, BNB.B and etc.
The BNB requirement just to avoid the abuser.

[hrunya102]

Binance become very popular, I think i can't win something in this contest, but definitely worth a try, tokens BNB is a good reward.

[Mr.Noda]

This exchange is generally great lads can not be said about other exchanges. I think that the stock token for the next 2-3 months will show a very good growth.

[Red-Apple]

i will stay far away from this as much as i can.

don't get me wrong, i do believe Binance is an excellent exchange and have been performing well so far but to call this obviously centralized platform of their as "decentralized" doesn't sit right with me and i consider actions like this very dishonest.

[kaicrypzen]

Each issued token must have at least 20,000 unique addresses holding the token and each address must have also executed at least one buy or sell transaction of the token during the competition period to be eligible for a reward.

Can anyone please explain where these 20,000 unique addresses are supposed to come from?

[fasdorcas]

Wow, I always love the binance team because they always come up with good marketing strategies to make sure people are always interested in their platform, kudos.

Meanwhile I have some BNB holdings with me and I will like to try out trading on the platform to see if I might be the lucky winner to go home with $100,000 and also to see how user-friendly the platform would be, cause most DEX are not user-friendly.

The competition starts on March 7 and ends on March 21 and every Binance account that holds at least 1 BNB will be eligible to take part in the competition.

Today is the beginning date hence this topic must need a bump .

[various]

Binance really knows how to lead this sector. I think the prize is low, but worth joining. Everyone knows that Dex exchanges will be used more in the coming years, so we shouldn't be late.

[Yalovtsev]

Just numbers the fact that on this new platform launched just yet 2 of the project,gave one and the second X9 X5 profit immediately!!!Fantastic, isn't it?? I think that this platform has a great future, and in particular this is due to the fact that it is headed by BINANS and he immet resources and vohzmozhnosti any project to raise well in price, and plus the fame, PR to organize it!!