Matic Network’s trading competition will go live today, May 27, 2020, on leading crypto exchange Binance. The week-long competition will go on till June 03, and $50,000 are up for grabs.
According to Binance news, the competition was conceptualized to celebrate the launch of Matic Network’s mainnet, and the recent listing of MATIC/BUSD on the exchange. Besides the competition, there will be an additional 10% discount on trading fees for new users of the exchange. According to the blog, the top three accounts with the highest trading volumes will share $25,000, and the remaining accounts with over 380,000 MATIC tokens will share the remaining amount.
Account with the highest trading volume will receive $12,000 in MATIC tokens, while the second-highest account will receive $8,000, and the third $5,000. Matic Network is an Ethereum based blockchain payments platform that focuses on secure and scalable transactions.
Apart from the Matic competition, a couple of other exciting things are also scheduled for Wednesday on the Binance ecosystem. As per a tweet today, Binance Futures will launch Theta Network’s THETA token with up to 50× leverage. Binance will enable isolated margin trading for ADA, EOS, ETC, LINK, and MATIC.