This week, crypto exchange giant Binance announced that it will be hosting a trading tournament between April 10th and April 25th. In the tournament, participants can team up and share in a prize pool of up to $1M in BNB tokens.
As the announcement clarifies, the challenges will involve both team trading tournaments and individual ROI challenges. For the USDT team profit tournament, teams will be measured by the total USDT profits from the top 10 team members. According to Binance, the top 10 teams will split the $1M prize pool as follows:
- The 1st place will receive 30% of the total reward in BNB tokens
- The 2nd place will receive 20% of the total reward in BNB tokens
- The 3rd place will receive 10% of the total reward in BNB tokens
- The 4th -10th place will equally split the remaining 40% of the total reward in BNB tokens.
Distributions of the rewards within each team will be as follows:
- Each team leader will acquire 30% of the team’s total reward. For instance, if the team happens to be in second place, the team leader will receive 30% of the 20% BNB reward.
- The top 10 individual USDT profit contributors in each team will equally split 20% of their team’s total reward.
- Lastly, all other team members will equally split 50% of their team’s total reward. Only members with 50,000 USDT trading volume or more will receive a split of the reward.
As for the daily ROI challenge, all users with at least 10 USDT minimum balance will compete with each other for the best USDT ROI. Sessions will occur daily for about 15 days where the following rewards will be up for grabs:
- 2,000 USD in BNB tokens for the 1st place
- 1,000 USD in BNB tokens for the 2nd place
- 500 USD in BNB tokens for the 3rd place
- A pool of 1,500 USD in BNB tokens will be equally split between the 4th place to the 10th place.
Team members are urged to sign up between March 26th and April 10th. Once they create their team, there would be no room for changes after. Also, each team requires to have a minimum of 10 team members within 7 days of signing up or risk disbandment. There will be a bonus popularity award of 5,000 USD in BNB tokens for the team leader with the largest team. All other team members can sign up throughout that time as well until the end of the tournament.