Starting from 12 August 2019, the popular duo from blockchain payments project Terra — stablecoin TerraSDT (SDT) and Terra’s mining token Luna (LUNA) — will make their debut on the Bitrue exchange! See below for the detailed schedule:
Terra has designed a decentralized stablecoin that powers the next-generation payments system. Terra is a family of stablecoins that are each pegged to the world’s major currencies, such as USD, EUR, and KRW. Terra’s flagship currency, TerraSDR, is pegged to the IMF’s SDR, which is considered to be the most price-stable currency in the world. The stablecoins are backed by Luna, the protocol’s mining token which receives Terra’s transaction fees. In other words, Luna’s value grows as Terra’s transaction volume grows.
To get its stablecoin used by millions, Terra has built a formidable e-commerce alliance across Asia, which includes unicorns such as TMON (eCommerce, Korea), Baemin (Food Delivery, Korea), and Carousell (C2C platform, Singapore). These mainstream platforms are to integrate Terra’s blockchain-based payment solution and help grow the Terra economy.
Terra is leading the herd on blockchain and crypto mass adoption. 8 weeks ago, Terra’s partnering mobile payments app CHAI launched in Korea, and Terra’s blockchain has now been used by over 320,000 users and processed over 560,000 transactions. Terra and CHAI’s transaction volume will continue to grow as they integrate with more e-commerce platforms, and we’re proud to be able to host them on Bitrue!
To celebrate the arrival of these coins, we’re having 2 contests where you can win both Terra and Luna. The total amount of prizes between both contests is $60,000 so make sure you don’t miss out!
Contest 1: Trade LUNA on Bitrue
Trade LUNA for a chance to win a share of the 25,000 LUNA prize! We will track the total amount of LUNA you have traded, and the top 100 traders will receive a share of the prize in bonus LUNA.
1.Time: August 14 — August 28
Bitrue will determine the top 100 users sorted by their LUNA trading volumes by 23:59 August 28 (GMT+8). These top 100 users will each receive a portion of 25,000 LUNA. The proportion will be calculated using the individual’s trading volume compared to the total volume of the top 100.
LUNA Trading Proportion= User’s LUNA Trading Volume / Total LUNA Trading Volume on Platform
Prize received by users will equal User’s LUNA Trading Proportion * 25,000 LUNA.
4. Distribution: Before September 15
* Only filled and the filled amount of partially filled (executed) orders will be considered when calculating trading volume.
* Trading volume refers to the total amount of Sell & Buy orders of LUNA.
*Bitrue expressly forbids any wash trading for the event. Accounts involved in such activity will be disqualified from this campaign.
*The maximum reward per user will be 2,500 LUNA
Contest 2: Stake Your Terra For Reward
Hold your Terra and we will give you more! For 3 months, every day that you hold Terra on Bitrue will entitle you to a portion of the 21,500 SDT prize pool.
- Time: August 16 — November 16 (3 months)
a) The Total Distribution Amount is 21,500 SDT, distributed over 3 months, at ~7200 SDT per month.
b) Bitrue will take a snapshot of users’ SDT balances randomly every day each month, and distribute the prize pool of SDT proportionally after 30 days have elapsed.
SDT received by the User = The Total SDT to be distributed * Proportion of Daily Average SDT held by the user
Daily Average SDT Proportion = Amount of Daily Average SDT held by User / Total SDT held by Bitrue at the time of snapshot
Daily average amount of SDT held by User = Sum of 30 day’s SDT Daily Snapshot/30 (those in orders included)
* Rewards of less than 5 SDT will not be distributed.
* Any SDT that are pending in deposit or withdrawal at the time the snapshot is taken will not be counted towards your SDT balance.
* The maximum reward for each account per month is 600 SDT.
* Rewards for each month will be distributed on the 25th.
We always have more updates and plans on Bitrue, so to keep abreast of the latest situations always be sure to follow BitrueOfficial on Twitter