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Futures are used in traditional markets for risk-hedging or to gain additional exposure. Both traditional and crypto futures similarly help markets lead price discovery. While futures trading obviously carries risks, it enables users to take advantage of the volatile nature of digital assets.
The world’s largest cryptocurrency exchange, Binance, has decided to celebrate the growth of its futures-based services by allowing clients to compete in such a tournament where they can win BUSD as well as limited edition NFTs.
Binance Futures Grand Tournament Arrived
The crypto exchange announced the news recently, indicating that the registration period had started as of November 27th at 00:00 and will go on until December 24th at 23:59 (UTC).
The competition itself begins on December 10th at 00:00 and will continue until December 24th at 23:59 (UTC) as well.
Interestingly, Binance has also allowed a referral challenge period, which opened on the same date as the registration period and ends on December 9th.
To register, users have to contain at least 100 BUSD in their USD-M futures wallets or open Multi-Asset Mode. Nevertheless, the company stressed that all users have to be fully verified to participate.
The total prize pool of each competition will be determined by the number of all participants in all competitions. As Binance explained it – the more participants there are, the higher the total prize pool will be, and vice-versa. However, it has a maximum prize pool of 1,800,000 BUSD tokens.
What’s new about this year’s competitions is the entrance of different types of prizes. The skyrocketing growth of the NFT space has urged the cryptocurrency exchange into incorporating limited-edition Zodiac NFTs as prizes.
More precisely, users registering for the Team Competition and/or Individual Competition can accumulate Referral Challenge Points, which could ultimately lead to 200 winners per day that will earn 2,400 NFTs in total. Binance Futures will also double the Tournament P&L points for trades made using BUSD futures. Interested participants can find out more information and sign up here.
About Binance Futures
Binance Futures, the derivatives arm of Binance, is the leading derivatives exchange. Since its launch in Q4 2019, Binance Futures has been the fastest-growing exchange in the industry.
Binance Futures has quickly become the go-to venue for retail users due to its continuous efforts to introduce innovative products, enhance users’ experience, and at the same time, ensure a seamless and stable performance that users can rely on.
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