In addition to the regular trading contest, Binance futures traders can also take part in a Copy Trading Contest and a Trading Bots Contest.
On Monday, November 27th, Binance Futures, a big crypto trading company, announced the Binance Futures Grand Trading Tournament. This tournament has the biggest prize pool ever. Players can win up to $2 million in USDT.
In an exciting move, this tournament edition will have new competitions that match Binance’s recent innovations. In addition to the regular trading competition, people can also take part in a Copy Trading Competition and a Trading Bots Competition. This growth is in line with Binance’s promise to provide a variety of trading options for its users.
Moreover, the competition starts today and lasts for four weeks, ending on December 24, 2023. To encourage people to join early, they have a special Early Bird Challenge for a week. If you do certain things, you can get special Binance Futures Bonus Vouchers.
The competition lasts for three weeks and includes different categories, with each one having its own prize.
Group contest: Prize of up to $1,250,000 USDT available.
Competition where you can copy trades: Win up to $350,000 in USDT.
Trading Robots Contest: Win up to $200,000 USDT
New people get a prize of up to $200,000 USDT.
The Binance Futures Grand Tournaments focus on teamwork and encourage friendly competition and collaboration in the crypto community. The amount of prize money can change depending on how many people take part. The aim is to get the total prize money to reach $2 million USDT. Binance wants the community to join in and make the competition even better.
Binance Futures will give rewards to various groups.
The Binance Futures will give out rewards based on how well teams compete, how well they trade, and how well their trading bots perform. Here’s the explanation, as listed below:
Teams will be judged based on how much money they make or lose each day during the competition. The Team Daily PNL is calculated by adding up the daily profits and losses of the top 10 users in a team who have made the most money from trading Futures.
First position gets 20% of the total prize pool for the team.
2nd Place gets 15% of the team’s prize money.
3rd Place gets 10% of the prize pool for the team.
4th to 10th place teams will share 35% of the prize money equally.
11th to 20th place will share 20% of the team prize pool equally.
Prizes for Copy Trading Contest: The competition has two parts: the Lead Traders Contest and Copy Traders Voting. We rank traders’ portfolios based on their profits and losses when trading with USDⓈ-Margined Futures. The top 10 traders compete for weekly rewards. When people vote for the traders they like the most, it is called Copy Traders Voting.
Top Traders List:
1st Place gets 25% of the money in the prize pool for the week.
Second place gets 15% of the prize pool for the week.
3rd Place gets 10% of the weekly prize money.
4th Place will receive 6% of the money in the prize pool for the week.
5th position gets 4% of the prize pool for the week.
6th to 10th place: Each get an equal share of 10% of the prize pool for the week.
People who copy the trades of others can vote for their favorite traders, and 30% of the prize pool will be given to the winners.
People who trade at least 1,000 USDT every day in Futures or Copy Trading can vote.
Voters get a share of the prize pool depending on how many votes they cast.
Competition rewards for trading bots: People who make trading bots for the Futures Grids competition will have their bots shown and rated based on how much money they make.
First place: 25 percent of the prize money.
2nd place gets 15% of the prize money.
3rd Place wins 10% of the prize money.
4th to 20th place: Each gets half of the prize pool.
New users on Binance Futures can win up to $200,000 in USDT by trading at least 100 USDT in futures volume during the competition. Also, one new person will get a special prize of 1 BNB.
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