To celebrate its three years, the Binance exchange has organized a giveaway to give its users three different types of tokens. Specifically, these are up for grabs:
- 10,000 BNB
- 180,000 CHR
- 75,000 PNT
The tokens being gifted
BNB is Binance’s token, Binance Coin. Currently worth about $16.5. So there’s $165,000 up for grabs in Binance Coin.
CHR is the token of the “relational blockchain” Chromia, at position 360 of CoinMarketCap. It is a project that aims to merge the potential of the blockchain with that of communities and social networks. It is worth about $0,03.
Whereas PNT is the token of Eidoo, former EDO. The Swiss company has recently rebranded the new token to replace the “old” EDO. PNT is the governance token of the pTokens network. Binance was among the first exchanges to list PNT. It is worth about $0,69.
How does the Binance three-year initiative work?
To participate in the initiative it is necessary to have the latest version of Binance for iOS or Android. The competition period will start at midnight UTC on July 11th and will last for one week, until midnight UTC on July 18th.
As explained by the exchange, users will have to perform a trading operation that includes BNB, CHR or PNT. After 4 AM on the day after the trade, they will receive a gift-link which they must share on social media or with friends. When a friend “opens the gift” and joins Binance both the user and the friend receive a random token reward of up to $100.
The tokens received as a gift cannot be withdrawn unless the account completes transactions amounting to 3 BTC volume (approximately $27,000).
They must be used for trading activities within 15 days of being received or they will be removed.
Binance has therefore chosen to celebrate its third birthday by rewarding users and encouraging trading activities on its platform.
With trading volumes reaching $2 billion per day and 1.4 million transactions per second, Binance seems to be very appreciated by users. Thanks to this consensus, the platform is progressively expanding its ecosystem by acquiring new platforms (for instance CoinMarketCap) and providing innovative services that enhance the platform.