Over $12,000 worth of prizes to be won in our BZRX Trading Contest

Published in

KyberSwap

6 min readDec 14, 2020

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We are very pleased to announce a BZRX trading contest on KyberSwap together with Fulcrum, with 100 prizes and over $12,000 to be won!

Join the contest here

With the success of the Learn & Earn: Fulcrum Quiz (with over 4,100 people participated), we are happy to announce an exciting joint trading contest with the Fulcrum team. The contest will be available 14 December 2020 21:00 to 24 December 2020 00:00 (GMT+8). Similar to previous KyberSwap contests, users will need to trade to accumulate points and the top winners will share a prize pool.

Users that successfully trade BZRX by using the swap function in KyberSwap during the contest period will accumulate points based on their trade amount.

Top 100 traders will share the total prize pool of over $12,000 worth of rewards. Please note that to accumulate points, one of the tokens traded must be BZRX (any token → BZRX or BZRX → any token). No minimum trade amount.

100 Prizes in total:

🥇1st place — 7,875 BZRX + 11,666.67 vBZRX

🥈2nd place — 3,750 BZRX + 5,555.56 vBZRX

🥉3rd place — 2,625 BZRX + 3,888.89 vBZRX

⚡Next 47 places (rank 4–50) — 375 BZRX + 555.56 vBZRX each

⚡Next 50 places (rank 51–100) — 262.5 BZRX + 388.89 vBZRX each

vBZRX are vesting BZRX tokens. You can learn about them in the “about the vBZRX token” section of this article.

How to win:

Perform a token swap, with one of the tokens being BZRX (any token → BZRX or BZRX → any token). No minimum trade amount.
Trading amount will be converted to ETH, and for every ETH, the user will be awarded 1 point. Up to 4 decimal places.
Read our full Terms and Conditions here.

BIG tip: you can hold ≥2000 KNC in your wallet to get 20% more bonus points for every BZRX trade. Trade KNC on our Android or iOS app will yield you another 20% bonus points.

Download our app on Android / iOS

Click here to participate in this contest.

Win even more by retweeting about this contest

10 lucky Twitter winners will also get $30 each after they:

Follow @KyberSwap and @bZxHQ on Twitter;
Retweet our pinned tweet about the BZRX trading contest;
Tag 3 friends in the comments, with the hashtag #swapBZRX.

Duration: 14 December 2020 21:00 to 24 December 2020 00:00 (GMT+8)

*Winners will be randomly selected

FULCRUM — A ROBUST YET SIMPLE MARGIN TRADING AND LENDING PLATFORM

Fulcrum is a powerful DeFi platform for tokenized lending and margin trading. The platform enables users to lend assets for interest or enter into short/leveraged positions with just a few clicks.

No KYC — Fulcrum is a decentralized margin trading platform. There is no need for any verification, KYC or AML.

Non-Custodial — Whether lending or trading, maintain control of your own keys and assets with our non-custodial solution.

Everything is Tokenized — iTokens (margin loans) earn holders interest on borrowed funds and pTokens (tokenized margin positions) allow your margin positions to be composable.

Minimal Liquidation Penalties — Positions that become undercollateralized are only liquidated enough to bring margin maintenance from 15% to 25%.

Perpetual Positions — Enjoy a frictionless trading experience with positions that automatically renew and zero rollover fees.

Visit: https://fulcrum.trade/

THE NEW BZRX TOKEN

The BZRX token is a governance token, first and foremost. Collectively, the token holders have the power to upgrade the protocol as they see fit. This allows token holders to create incentives to reward participation and drive usage of the protocol.

BZRX token holders can immediately stake their token via the Staking Portal, allowing stakers to begin earnings fees immediately. Fees come from the usage of the protocol. When stakers receive these fees, they can be cashed out in DAI, USDC, ETH, or any other supported ERC20. There are three major fees collected by the protocol:

- Origination Fees: 0.09%

- Trading Fees: 0.15%

- Interest Fees: 10% of interest paid

Additionally, borrowers who pay fees to the bZx protocol will get 50% of their fees returned to them in the form of vBZRX tokens. This means that anyone who executes a trade, opens a loan, or keeps a loan open, will begin to accrue ownership of the protocol.

Go to Staking Portal: https://staking.bzx.network/

ABOUT THE VBZRX TOKEN

vBZRX can be considered as a vesting BZRX token. Vesting tokens are tokens that are locked until certain conditions are met (usually time constraint), set by a smart contract. In vBZRX’s case, the vesting period is of 4 years with a 6-month cliff. This means that the vBZRX tokens a user hold will gradually turn into BZRX in 4 years, with the first BZRX tokens claimable starting January 2021 (6 months after the vesting token is unlocked).

When all of the user’s vBZRX tokens vest, the value of 1 vBZRX will be equal to 1 BZRX. This means that the winnings you receive in KyberSwap’s BZRX trading contest can increase in value after all of your vBZRX are vested.

Holding vBZRX during the vesting period has many benefits:

- Holders accrue BZRX internally as they vest and can claim anytime;

- The vesting tokens can earn fees that vest simultaneously with the tokens that earned them. Vested fees can be claimed anytime;

- Vesting tokens have 50% voting power compared to BZRX.

Learn more on how BZRX and VBZRX work: https://bzx.network/bzrx-token

FARM & EARN VBZRX

When trading on Fulcrum or borrowing on Torque you are earning yields while your position is open. Open a leveraged long or short position on an asset of your choice, and earn vesting tokens vBZRX as the trade is open.

Margin Trading with Fulcrum: https://fulcrum.trade/

Borrow with Torque: https://torque.loans/