Binance to host a trading tournament with a prize pool of $1M in BNB

Crypto exchange giants Binance recently announced that it will be hosting a trading tournament in which participants can compete in teams and win a prize pool of up to $1 million in BNB tokens. The tournament will be held between April 10 and April 25 and will take place in two ways - daily ROI and overall USDT team profit tournaments, according to the announcement.

The exchange explained that during the tournament period, all the teams that trade in perpetual contracts on Binance Futures will be ranked based on the total USDT profit made by them. This will correspond to the sum of the top ten individual results within the team.

The team in the first place will be rewarded with 30% of the total $ 1 million prize pool in BNB tokens. Teams in the second and third places will each get 20% of the total reward, while the remaining 40% will be split between the teams ranking from fourth to tenth.

Binance further noted that each team’s registered leader will be given 30% of their team’s total reward. The top ten team members will split 20% of the remaining reward, while the rest will divide the remaining 50% equally among themselves. To participate in the event, teams must register between March 26 to April 10. In addition to all this, a “bonus popularity” award of $5,000 in BNB tokens will be awarded to the leader of the largest team.