Binance will launch a competition on the Binance DEX testnet from March 7 to March 21 in an effort to promote the decentralized order-matching engine to its community, according to the company’s website.
Binance users holding at least 1 real Binance Coin (BNB) on their account can join the Binance DEX Simulated Trading Competition.
Each participant will receive 200 virtual testnet BNB tokens before the contest begins to be used as their starting funds.
There will be two competitions under the program, the first of which will involve the participants issuing and listing 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,” Binance explained.
For the second competition, all wallet addresses will be allowed to use Binance’s virtual testnet BNB.
They will also 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 full details of the competition can be found here: https://support.binance.com/hc/en-us/articles/360024724031-Binance-DEX-Simulated-Trading-Competition-Test-Your-Strategies-to-Win-10-000-BNB-
Binance noted that all Binance Chain testnet will reset the day before the actual competition.
The exchange launched the Binance Chain testnet in Feb. 20.