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Loom Network

LOOM Learn & Trade Promo on Binance

Binance, the World’s Largest Crypto Exchange will launch two LOOM promotions on November 17th, 2021 with $100,000 in prizes up for grabs!

The promotions will start on November 17, 2021 00:00 (UTC) and run until November 23, 2021 23:59 (UTC).

Promotion A: Learn and Earn ($60k Prize Pool)

During the activity, users who trade LOOM, finish watching the LOOM Network (LOOM) introduction video, and take the quiz in this form, will share a prize pool of $60,000 in LOOM token vouchers.

  • Reward 1: All users who trade 5,000 LOOM or more (including both buys & sells) in the eligible LOOM trading pairs and participate in taking the quiz, will be qualified to share the prize pool of $20,000 in LOOM token vouchers. Rewards will be distributed based on the total number of correctly answered questions as a proportion of all correctly answered questions by all qualified users.

Reward Calculation: The reward for the qualified user = (Individual user’s correctly answered questions / total number of correctly answered questions from all qualified users) * $20,000 in LOOM token vouchers.

  • Reward 2: All users who trade 10,000 LOOM or more (including both buys & sells) in the eligible LOOM trading pairs, and participate in taking the quiz and providing correct answers to all of the questions, will be qualified to equally share the prize pool of $40,000 in LOOM token vouchers.

NOTE: Winners from Promotion A (Reward 2) will not be eligible for winning rewards from Promotion A (Reward 1).

Promotion B: Trade and Win ($40k Prize Pool)

All users who trade 20,000 LOOM or more during the activity period will be ranked based on the total LOOM trading volume traded on their Binance accounts (including both buys & sells) across eligible LOOM trading pairs during the activity period. The reward structure is as follows:

  • 1st place: $8,000 in LOOM token vouchers
  • 2nd place: $6,000 in LOOM token vouchers
  • 3rd place: $3,000 in LOOM token vouchers
  • 4th place: $2,000 in LOOM token vouchers
  • 5th place: $1,000 in LOOM token vouchers
  • All other qualified participants: Split $20,000 in LOOM token vouchers based on each user’s total trading volume as a proportion of the qualified users’ total effective trading volume (excluding the top 5 winners)

Reward Calculation: The reward for the qualified user other than the top 5 winners = (Each user’s total effective trading volume / all qualified users other than the top 5 winners’ total effective trading volume) * $20,000 in LOOM token vouchers.

How to Participate

  • First, register for the promotions by clicking the [register now] button on this page
  • Before you submit the quiz form for Promotion A please make sure that you have filled in your Binance UID correctly! If you don’t provide your Binance UID correctly you won’t qualify to participate in Promotion A.

Terms & Conditions

  • Eligible LOOM trading pairs: LOOM/BTC, LOOM/ETH.
  • Binance will use 0.1075 as the LOOM/USD exchange rate for calculating the rewards distribution.
  • Rewards will be distributed within 2 weeks after the activity ends. You will be able to log in and redeem your token voucher via Account > Reward Center.
  • The validity period for the LOOM token vouchers is set at 14 days from the day of distribution. Learn How to Redeem a Token Voucher.

For the full and most up to date terms & conditions that apply to these promotions please refer to the official announcement on Binance.com.

Loom Network is building an ecosystem of blockchains for the next generation of DeFi protocols, NFTs, and high-performance multi-chain dapps. At the core of this ecosystem is our Basechain network — already live in production, audited, and battle-tested.

New to Loom? Start here.

Want to stake your LOOM tokens so you can earn rewards while helping secure Basechain? Find out how.

Got experience running Linux servers, and interested in running a Basechain validator node? Reach out to us in our Telegram channel and we’ll tell you all about the current requirements.

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Loom Network

Loom Network

We’re building an ecosystem of blockchains to sustain the next generation of DeFi protocols, NFTs, and high-performance multi chain dapps.