Binance holds a futures tournament | Weenax

The largest crypto exchange has announced an important event – a Futures Grand Tournament. Trade experts from all over the world can take part in this event and share up to 1,800,000 million BUSD and 1,400 NFTs.

As a part of the tournament, several activities will be held: a team competition, an individual competition, a competition of record-breakers, and a referral challenge. Let’s take a closer look at the requirements for participation in each of these activities, as well as the duration of the event.

binance futures tournament

General terms

Registration for the tournament started on May 23. The event will end on June 14, 2022. It has two stages:

Referral challenge – from May 23 to May 30;

Trading competitions – from May 30 to June 14.

Сonditions of participation:

Create a Binance account if you do not have one;

Verify the account (pass the KYC procedure);

You must have completed trades of at least 500 USDT on Futures in 2022;

Visit the webpage for the tournament. You can track your progress there.

The webpage shows that the prize pool is dynamic. The more participants join the tournament, the bigger the rewards will be. The structure of the prize pool is as follows:

Number of participants
Team Competition Prize Pool (BUSD)
Individual Competition Prize Pool (BUSD)
Record-Breakers Prize Pool (BUSD)
1 000
8 000
2 000
2 000
3 000
40 000
10 000
10 000
5 000
80 000
20 000
20 000
10 000
120 000
30 000
30 000
25 000
160 000
40 000
40 000
50 000
200 000
50 000
50 000
100 000
240 000
60 000
60 000
150 000
320 000
80 000
80 000
200 000
400 000
100 000
100 000
250 000
600 000
150 000
150 000
500 000
1 200 000
300 000
300 000

Thus, when the total number of participants reaches 500,000, the prize pool will be 1.8 million BUSD.

A token of the day will be announced every day. It will bring more benefits when trading.

Please note that all rewards can be received several times and do not exclude each other. If you focus your efforts toward that end, you may take the top places in all competitions.

Additional events from partners will also be held during the tournament. Follow all the Binance news to win even more.

Referral Challenge

All participants who register for the tournament can accumulate referral challenge points. If you accumulate more than 8 points per day, you will participate in the daily NFT draw. There will also be drawings every week. Among the prizes are Limited Edition Chess NFTs of four rarity levels.

How to earn points:

Challenge
Referral Challenge Points
Refer 1 non-Binance User to the Tournament
3
Refer 1 existing Binance User to the Tournament
2
For every 10,000 USDT traded on Token of The Day
1,5
For every 10,000 USDT traded on other tokens
1

The number of points you can earn per day is unlimited. All referred users must be verified or complete the procedure before the end of the tournament.

Why do you need Limited Edition Chess NFTs? They will be useful to you at the next stage – in the trading competitions. NFT owners will receive more bonuses for trading with the token of the day. Their results will be multiplied by a coefficient:

Binance Futures Grand Tournament Limited Edition Chess NFT Holder’s Identity
Token of the Day Coefficient
SSR NFT Owner
3
SR NFT Owner
2,5
R NFT Owner
2
N NFT Owner
1,8
No NFT
1,5

Team Competition

Traders can form teams to compete together for the biggest part of the prize pool. The result of the team will be ranked based on the top 10 of its participants with the highest PNL. However, the daily trading volume on Futures of these participants can not be less than 30,000 USDT.

You can trade both Coin-M and USDM futures. An additional coefficient to your daily PNL is counted when trading the token of the day and when owning Chess NFT, which were given to the best participants of the referral challenge.

The prize pool will be distributed among the top 10 teams:

25% of the prize pool for 1 place;

15% of the prize pool for 2 place;

10% of the prize pool for 3 place;

An equal split of 50% the prize pool for 4th-10th places.

Rewards distribution within the team:

Team leader gets 40% of the reward;

Top 10 profit contributors get an equal share 30% of the reward;

Other participants who have a trading volume of at least 10,000 USDT and have a positive profit get an equal split of 30% of the reward.

We must note some special aspects. Firstly, there is no limit on the size of each team. Also, if there are fewer than 10 members in the team, the leader can disband it after May 30 so that traders can join other teams.

There will also be a chat for all team members, where they can discuss strategies and tips.

Individual competition

Any trader who has a trading volume of 10,000 USDT can take part in this competition. Every 24 hours, all traders will be ranked from the highest ROI to the lowest. This indicator will also be multiplied if you have used the token of the day and if you own Limited Edition Chess NFT.

Every day, prizes will be distributed among the participants in 1st to 20th place:

1st – 25% of Individual daily prize pool;

2nd – 15% of Individual daily prize pool;

3rd – 10% of Individual daily prize pool;

4th-20th – An equal split of 50% of the Individual daily prize pool.

Record-breakers Competition

To win in this competition, you will have to break the record of the team and individual futures tournament of the last year. The exact number will be published on the tournament webpage a little later.

All teams that break the record will share a special prize pool and will also receive exclusive NFTs. Teams formed after June 8 cannot participate in this competition. If the record is not broken, the funds will be donated to Binance Charity.

Rewards distribution within the team:

Team leader gets 40% of the team reward and “The Unmatched” NFT;

Top 10 trading volume contributors get an equal share 30% of the team reward and a “The Masters” NFT each;

Other participants with a trading volume above zero get an equal split of 30% of the team reward.

Individual participants can break their own daily trading volume record and receive a Futures Cashback Voucher. Then they can use this cashback to surpass the record again and get a voucher.

Weenax wishes good luck to all users who intend to take part in this tournament.

You deserve to be in the top places!