Popular cryptocurrency exchange Binance wants to onboard as many users as possible to its newly launched Decentralised Exchange (DEX). In a bid to accelerate the process, the exchange has announced token rewards worth $100,000 in BNB (Binance’s native coin) to users who take part in the testnet trading competition.
Binance CEO Changpeng Zhao announced the trading competition and rewards on Twitter:
Called the Binance DEX Simulated Trading Competition, all users holding atleast 1 BNB on their Binance account will be eligible to participate in the competition which will take place from March 7-March 21, 2019. Each Binance account will be able to register a maximum of 20 Binance Chain addresses and will receive 200 virtual BNB tokens to use as their starting capital before the competition begins. More details can be found on Binance’s official blog post.
The Binance DEX is powered by its proprietary Binance Chain technology, which aims to offer a decentralised mechanism for trading cryptocurrencies. Binance’s Trust Wallet will also be integrated with Binance DEX, along with support for major hardware wallets.
Binance Coin (BNB) is among the top 10 cryptocurrencies by market cap, and it recently took over TRON (TRX) as the 9th biggest coin in the market. BNB was trading at $11.16 at the time of writing. CZ even tweeted about this development: