Competition Period: 2019/03/07 8:00 AM-2019/03/21 8:00 AM (UTC)
In order to increase awareness of Binance DEX within the Binance Chain community, Binance has decided to sponsor a simulated trading competition on the Binance DEX testnet. All users who hold at least 1 real BNB on their Binance account will be eligible to participate in this Binance DEX Simulated Trading Competition. Each Binance.com account is able to register a maximum of 20 Binance Chain addresses and will receive 200 virtual testnet BNB tokens to each address to use as their starting funds before the Binance DEX trading competition begins.
Please note: All data on the Binance Chain testnet will reset right before 08:00 AM (UTC) on March 7, with all existing asset balances being cleared. After the reset occurs, the competition will begin.
Competition 1: Token Competition for Healthy Price Volatility
Individuals are able to issue and list tokens on the Binance Chain Testnet. The addresses that own tokens will be ranked in terms of the sum of each token price’s volatility over every five minute interval on the “Token”/BNB trading pair during the competition period. The summation will start when each token is listed, with the maximum price volatility that can contribute to the sum set at 10 (every five minutes). The greater this sum of volatility is at the end of the competition period, the higher each token will be ranked. The initial price of each Token must be set at 1 BNB and there is no limit to the total supply of each token type. The rewards structure is as follows:
1st Place: Win 3,000 BNB
2nd Place: Win 2,000 BNB
3rd Place: Win 1,000 BNB
NOTE:
- Guides: How to issue a Token. How to list a Token
- This volatility competition is limited to “Token”/BNB trading pairs only
- Each issued token must have at least 20,000 unique addresses holding the token and each address must have also executed at least one buy or sell transaction of the token during the competition period to be eligible for a reward.
- All addresses registered under the same Binance account are only qualified for one reward.
- Trade Volatility = Sum (min (The highest and lowest price spread within 5 minutes, 10))
Example:
Alice issued a new token, named ABC. The price movement over the first 25 minutes after the listing is as follows. The final trading fluctuation calculation is 35 for the 25 minutes.
| Time | Highest price | Lowest price | Sum of fluctuations | Notes |
| 10:00-10:05 | 3808 | 3790 | 10 | High-low spread is 18. Max volatility contribution is 10 |
| 10:05-10:10 | 3814 | 3802 | 10+10=20 | High-low spread is 12. Max volatility contribution is 10 |
| 10:10-10:15 | 3812 | 3806 | 20+6=26 | High-low spread is 6. Volatility contribution is 6 |
| 10:15-10:20 | 3815 | 3810 | 26+5=31 | High-low spread is 5. Volatility contribution is 5 |
| 10:20-10:25 | 3818 | 3814 | 31+4=35 | High-low spread is 4. Volatility contribution is 4 |
The difference between the highest and lowest price within each 5 minute interval is the length of the candlestick over 5 minutes. If its length is greater than 10, we will only take the max allowed volatility contribution of 10.
Competition 2: Absolute Return Competition
All wallet addresses are able to use the virtual testnet BNB distributed by Binance and will be ranked based on absolute returns achieved using their trading strategies on BNB, BTC.B, ETH.B, USDT.B, XRP.B tokens over the competition period. The rewards structure is as follows:
1st Place: Win 1,000 BNB
2nd Place: Win 700 BNB
3rd Place: Win 300 BNB
4th-10th Place: Split 1,000 BNB
11th-20th Place: Split 1,000 BNB
NOTE:
- Though participants can trade on any pairs, only the trading returns on BNB, BTC.B, ETH.B, USDT.B, and XRP.B would be counted. Other new Tokens created by users across all addresses will have a value of zero. All earnings will be calculated in BNB terms. The other 4 non-BNB tokens will be settled at a “Historical Average” price at the end of the final trading competition to the BNB equivalent.
- Absolute return calculation = [Final holdings - (opening holdings + holdings transferred in)]
- Opening/Final holdings: total holdings balance in BNB equivalent at the start/end of the competition, including both available and frozen/locked assets
- The maximum amount of holdings transferred into all the registered address from other unregistered addresses must not exceed 8,000 BNB. All additional transfers made into these addresses will be deducted from the final profit/returns figure.
- Historical Average: Sum ( (Highest Daily Price + Daily Open Price + Daily Close Price + Lowest Daily Price) / 4) / Number of days
- For all the wallet addresses registered under the same Binance account, the absolute return will be aggregated together.
Terms:
- Binance reserves the right to cancel or amend the competition or competition rules at our sole discretion.
- Rewards will be issued within 2 weeks after the competition ends. You will be able to login and see your prize via Distribution History > Account Center. All the address ownership must be verified via Transfer Memo before that.
- All tokens on the testnet are virtual assets, which are only used for testing.
