Cryptocurrency Exchange

Binance announces $100k rewards in tokens for testing Binance DEX

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Cryptocurrency exchange Binance has declared a commerce competition so as to extend awareness of its localized commerce platform Binance DEX. Binance DEX and Binance’s blockchain platform Binance Chain entered public testnet section last month. In a web post dated March 01, Binance aforesaid that it’s sponsoring a simulated commerce competition on the Binance DEX testnet.

“All users United Nations agency hold a minimum of one real BNB on their Binance account is eligible to participate during this Binance DEX Simulated commerce Competition. every Binance.com account is in a position to register a most of twenty Binance Chain addresses and can receive two hundred virtual testnet BNB tokens to every address to use as their beginning funds before the Binance DEX commerce competition begins,” the post reads.

Binance more aforesaid that the Binance Chain testnet can reset right before 08:00 AM (UTC) on March seven, with all existing plus balances being cleared. The competition can begin once the reset happens. The journal post more details 2 competitions – ‘Token Competition for Healthy value Volatility,’ that has 3 prizes within the very one,000–3,000 BNB, and ‘Absolute come back Competition,’ which can reward twenty winners in amounts starting from 50–1,000 BNB.Binance provided a detailed description of the Binance DEX simulated trading competition which will take place from March 7 to March 21, 2019:

“Rewards are issued at intervals two weeks once the competition ends,” it said. “All tokens on the testnet square measure virtual assets, that square measure solely used for testing.”

Recently, QuadrigaCX has featured monetary problem following the extra time of its founder Gerry Cotten in Dec last year. Since then, Quadriga has not been able to access its cold wallets wherever it unbroken most of the assets, as a result of Cotten was apparently entirely chargeable for the wallets and corresponding keys.

Quadriga supposedly solely has CA$375,000 ($286,000) in money, whereas it owes CA$260 million ($198,435,000) to its users. Facing financial condition, the exchange has sought-after somebody protection in Canadian court. Over the past few days, BNB coin has gained nearly 11 percent and is trading at around $11.45 at press time, according to data from CoinMarketCap.

Now, Kraken is providing up to $100,000 in either enactment or digital currency as a souvenir for tips that might cause the invention of the missing assets. Kraken notes within the announcement that it’s going to finish the reward program at any purpose in time.

“All leads collected by Kraken are provided to the FBI [Federal Bureau of Investigaion], law [Royal Canadian Mounted Police] or alternative enforcement authorities, United Nations agency have an energetic interest during this case,” the statement concludes.

In a separate blog post, Binance provided a detailed description of the Binance DEX simulated trading competition which will take place from March 7 to March 21, 2019:

“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.”

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