[PRESS RELEASE – Please See Disclaimer]
7 September 2020, 8:00am UTC– Binance Futures is hosting its 1st Anniversary Trading Tournament with over $1,600,000 USD in BNB tokens to be won. The tournament follows Binance Futures’ 1st Anniversary Video Competition.
Binance Futures has become the global leading crypto derivatives trading exchange in under a year, providing users with 60 futures contracts and 12 leveraged tokens, the most varied range of futures pairs in quantity and variety.
Binance’s market share in altcoin futures grew as high as 41% in August 2020, with one of its highest single-day altcoin futures volume with over $5.8 billion traded. Volume on Binance Futures also increased by 79% month-on-month to $195 billion, its highest monthly volume since inception.
The 1st Anniversary Trading Tournament will be hosted from 2020/09/07 0:00:00 AM (UTC) to 2020/10/06 0:00:00 AM (UTC), and prizes from the 30-day event include:
- Team BTC Profit Rewards: prize pool of up to 1,350,000 USD in BNB
- Team BTC Profit Comeback: prize pool of up to 150,000 USD in BNB
- Daily Lucky Draws: 75,000 USD in BNB to be given away
- Top 20 Most Popular Team Leaders: bonus pool of 51,000 USD in BNB
Team BTC Profit Tournament Prize Pool
To promote friendly competition and collaboration in our community, this will be a team-based tournament. The dynamic prize pool amount will be determined by the number of participants so we encourage more participation from the community to help us reach the maximum total prize pool of 1,500,000 USD.
Here is how the dynamic prize pool will work:
Team BTC Profit Rewards: Awarded 90% of the Dynamic Prize Pool
All teams that trade in COIN-margined “COIN-Ⓜ” and USDT-margined “USDT-Ⓜ” contracts on Binance Futures during the competition period will be ranked based on their total BTC Team Profit performance, calculated as the sum of the top 10 individual BTC profit results within the team.
BTC will be used as the statistical unit of P&L in this tournament, and P&L from COIN-Ⓜ Futures contracts will be multiplied by 2 (two) to calculate the final P&L to determine the rankings.
Team BTC Profit Comeback: Awarded 10% of the Dynamic Prize Pool
Teams that do not qualify for Profit Rewards can qualify for the Profit Comeback prizes. All teams will be ranked by their “comeback score”, which is calculated as the difference between each team‘s lowest P&L ranking at any time during the tournament period and each team’s final P&L ranking at the end of the tournament period.
The teams with the top five comeback scores will share 10% of the dynamic prize pool:
The prize distribution within the winning Profit Reward and Profit Comeback teams is as follows:
- Each Team leader will receive 30% of their team’s total reward.
- The top 10 individual USDT profit contributors in each team will equally split 20% of their team’s total reward.
- All other team members will equally split 50% of their team’s total reward.
- Note that only team leaders and team members with 5 BTC or more in futures trading volume during the competition period will receive a split of team rewards.
Bonus Pool for Top 20 Most Popular Team Leaders
To recognize the leadership and guidance of tournament team leaders, Binance will further reward a total of $51,000 in BNB tokens to the top 20 teams with the most number of teammates with 5 or more BTC in trading volume each during the tournament. So the more team members you have as a team leader, the higher chances you have of winning. The rewards are:
Daily Lucky Draws – 75,000 USD in BNB to be won
Users with a minimum total trading volume of 0.5 BTC across any COIN-Ⓜ and USDT-Ⓜ contracts in each daily qualifying period will be entered into a lucky draw, where 50 lucky winners will be randomly selected to each win 100 USD in BNB.
There are a total of 15 daily qualifying periods, the first of which will begin on 2020/09/21 at 0:00:00 AM (UTC). Each daily qualifying period runs from 0:00:00 AM (UTC) to 11:59:59 PM (UTC). The details are as follows:
- Step 1: Complete trading volume of 0.5 BTC across any COIN-Ⓜ and USDT-Ⓜ contracts in each daily qualifying period.
- Step 2: Qualified participants can click on the lucky spinning wheel found on the activity landing page at approximately 2:00 AM (UTC) on the following day.
- Step 3: The winners of each lucky draw period will be displayed on the activity landing page at approximately 2:00 AM (UTC) on the third day.
- Note: Users will need to click the lucky spin within 22 hours of receipt during the following day.
Competition & Registration Dates
Team leader sign-up period: 2020/09/07 0:00:00 AM (UTC) to 2020/09/21 0:00:00 AM (UTC).
Team member sign-up period: 2020/09/07 0:00:00 AM (UTC) to 2020/10/06 0:00:00 AM (UTC).
Competition period: 2020/09/07 0:00:00 AM (UTC) to 2020/10/06 0:00:00 AM (UTC).
For more information, please visit the trading tournament website.