QBX Trading Competition on Binance DEX, up to 1’450 BNB and 6’300’000 QBX to Give Away!
Dear qiibeeans
It’s already one week since our official listing on Binane DEX and back then we’ve informed you about the aim to get listed on Binace.com next. To get one step further we want to reach 50k trading volume, every day for 2 month.
But which benefits do you and we have from the trading competition? Let’s have a look at the most important facts and figures.
All about the Binance DEX Trading Competition
The qiibeeToken (QBX) is listed on Binance DEX since Wednesday, the 10th of July — and the qiibee Binance DEX trading competition will begin on July 20th at 0:00 AM (UTC) / 02:00 AM (CEST) and ends on the 20th of September, 2019.
The reason for the trading competition is that we want to reach a minimum of 50k USD volume per day for 2 months in a row on Binance DEX. This is another step further to ensure longterm liquidity around the QBX and open new doors such as the Binance community listing program.
Please note that the qiibee Binance DEX trading competition is operated and awarded by qiibee and therefore no official connection nor a link coming from Binace is available.
The rules
It’s very important for us that we achieve our goal of 50k USD minimum volume per day without any kind of “wash trading”. As the competition happens on a DEX, everything is completely transparent. For instance, if Nr. 1 and Nr. 2 on our leaderboard spent the whole week trading back and forth between their first and second accounts, we will treat that as “wash trading” and will ban the two wallets from the contest.
qiibee Binance DEX Trading Competition Rankings & Rewards
The trading competition will last from July 20th to September 20th. Within this timeframe, qiibee will reward the top 100 traders according to their QBX volume every week with QBX. The table below shows the exact timeline of each trading period:
The leaderboard will thereby show you who’s on which position in terms of QBX trading volume. The weekly rewards will be distributed as follows:
Weekly QBX Rewards
Rank 1: 16% of QBX pot
Rank 2: 9.6% of QBX pot
Rank 3: 5.6% of QBX pot
Rank 4–10: 2.4% of QBX pot
Rank 11–50: 0.8% of QBX pot
Rank 51–100: 0.4% of QBX pot
The QBX Pot
During the weekly trading periods, the QBX pot will be filled according to the daily QBX trading volume on the Binance DEX. Each day, if the QBX trading volume measured in USD values exceeds the limits shown below, the corresponding amount of QBX will be added to the QBX pot and distributed to the top traders on a weekly basis, according to the overview below:
Example: If after the first week from the 20. of July until the 26. of July, the QBX pot contains in total 500’000 QBX, the top 100 traders will receive the following payout in QBX:
1’450 BNB Rewards
qiibee will track the total volume of each wallet from July 20th to September 20th. If we manage all together to get the qiibee Token (QBX) listed on binance.com, the top 50 QBX traders will receive the following BNB rewards:
Rank 1: 400 BNB
Rank 2: 200 BNB
Rank 3: 100 BNB
Rank 4–10: 50 BNB
Rank 11–50: 10 BNB
Important: These BNB rewards will only be issued if we win the official competition and are listed on Binance.com — nevertheless, the QBX rewards will be paid irrespectively of the result. If the QBX gets listed on Binance.com, everyone profits. This ensures that the goals of the whole community are aligned and we can together push for the listing.
BONUS Rule
qiibee seeks to build an engaged community on the Binance DEX. Therefore we introduce the BONUS rule; Whoever completes a QBX/BNB trade and within 1 hour no other trade occurred on Binance DEX in the QBX/BNB trading pair, the QBX buyer of the last trade will get double the amount of QBX, with a maximum of 1m QBX. If you achieve that, please send us a screenshot of your last trade via email to claim your QBX. Whoever completes the BONUS rule first and claims his QBX, will receive them. The BONUS rule activates only once.
Please note that it can take up to 5 business days until the rewards are distributed. qiibee reserves the right to not send the rewards if we detect any misbehaviour, spam, scam or other malicious behaviour.
The Leaderboard
We do showcase a leaderboard on our website where you can constantly check the top 100 traders and see how much reward they will receive. The leaderboard will monitor the volume traded per BEP-2 address.
To communicate and discuss the contest, we will use our official telegram channel: https://t.me/qiibee
We from team qiibee wish you all happy trading and lot’s of fun with the rewards!
