Binance, one of the leading cryptocurrency exchanges, has announced the introduction of the “Discovery” feature on its copy trading platform. To celebrate the launch, Binance also launched a swipe and trade contest, offering participants a chance to share a prize pool of 30,000 USDT in token vouchers.
Binance, the popular cryptocurrency exchange, has introduced the “Discover” feature on its copy trading platform. With this new feature, users can view and copy the trading strategies of top performing traders. To mark the launch, Binance initiated the Swipe and Trade Competition, where participants have the opportunity to win a share of 30,000 USDT in token vouchers.
The promotional period for the contest is set to run from April 9, 2024, 00:00 (UTC) to April 22, 2024, 23:59 (UTC). The competition consists of two components: Promotion A and Promotion B.
In Promotion A, eligible users who register for the promotion and create at least one fake portfolio using the Detect feature will be ranked based on the Total Profits and Losses (PnL) of their top 10 positive fake portfolios for copy trade. Qualifying participants will have a chance to share 15,000 USDT in token vouchers, with prizes distributed based on ranking.
In Promotion B, eligible users who register for the Promotion and create at least one copy portfolio using the Discover feature will be ranked based on the total PnL of their top 10 positive PnL copy trading portfolios. Participants in this category will also have the opportunity to share 15,000 USDT in token vouchers, with prizes distributed according to ranking.
The prize structure for both promotions is as follows:
Promotion A (fake copy trade):
1st place: 2500 USDT
2nd place: 1500 USDT
3rd place: 500 USDT
4th – 5th place: 500 USDT split equally
6th – 10th place: 500 USDT split equally
11th – 100th place: 4500 USDT equally split
Remaining eligible participants among the first 5,000: Split 5,000 USDT equally
Promotion B (Copy Trading):
Prizes follow the same structure as Promotion A.
To get started with Copy Trading’s Discover feature, users need to log into the Binance app and navigate to [Futures] – [Copy Trading] – [Discover] section. From there, they can swipe right to Favorite a portfolio or swipe left to switch. Detailed portfolio metrics such as 7-day PnL/ROI, Top Trader badges and performance charts can be explored before deciding to mimic or copy the selected portfolio.
Participants must familiarize themselves with the rules and conditions of the competition. Users in eligible regions must click on “Register Now” on the promotion page during the specified period to qualify for prizes. Prizes will be distributed as vouchers for USDT tokens within 14 working days after the end of the promotion. Vouchers must be claimed within 30 days of being issued.
Binance reserves the right to disqualify participants engaging in fraudulent behavior or to make changes to the terms and conditions, eligibility criteria and prize distribution as necessary. Users are responsible for compliance with legal and regulatory requirements specific to their jurisdiction.
With the introduction of the Discover feature and the Swipe and Trade competition, Binance aims to improve the user experience of its copy trading platform and provide an opportunity for traders to learn from and follow successful strategies.
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