Binance Competition Event

Peter Hertel
Jun 19 · 6 min read

2,000,000 SPNDB and 2,000 BNB Giveaway! 2% Transfer Reward for ERC20 to BEP2 swap and 1% Spending Enhancement for SPNDB and BNB on the Spend Wallet + Spend Visa® Card.

To Our Spenders and Binancians,

As we embark on our journey to launch Spendchain, an interoperable cross-chain payments blockchain, we are excited to announce that we will be introducing our first decentralized bridge for our ERC20 SPND to BEP2 SPNDB.

Part I

Today, we will be going over three items for the Binance Competition Event:

Exchange SPND to SPNDB

Previously, users were able to perform a free cross chain swap directly in the Spend Wallet instantly, in real time. This enabled SPND and SPNDB to be converted back and forth seamlessly. We will be introducing Spend Swap (https://swap.spend.org), a decentralized non-custodial service that will similarly enable users to swap ERC20 SPND to BEP2 SPNDB, for free. More information regarding the decentralized swap service will be released soon.

To celebrate this upcoming launch, we are giving users a bonus of 2% SPNDB until 7/20/19 0:00 UTC. That means, when users utilize this decentralized swap service to convert ERC20 SPND to BEP2 SPNDB, they will receive a bonus of 2% SPNDB on their transfer.

Our competition event will span from 6/20/19 to 7/20/19 UTC at Binance DEX. The prizes will be the following:

Ten (10) Weekly Prizes:

The top 10 traders in weekly volume on the SPNDB/BNB markets will receive their share of 250,000 SPNDB and 250 BNB. This event will be closed weekly on Saturdays at 23:59 UTC and will go on for 4 weeks (the duration of the competition).

Three (3) Single Month Performance Prizes:

The top 3 traders in volume for the month will receive a free Spend Black Membership* and their share of 1,000,000 SPNDB and 1,000 BNB.

*Contingent upon KYC approval and availability within the users region.

To recap, we will be giving away a total of 2,000,000 SPNDB and 2,000 BNB. All payments will be made on-chain to the traders BEP2 address.

Rules of the Contest:

This promotion is being conducted by Spend Europe LTD and specifically excludes residents of the United States and OFAC restricted countries. Any decentralized non-custodial swap service will also geo-block USA and OFAC restricted IP addresses from using the services. Any winner that is determined in Spend’s sole discretion as being a resident of the United States will forfeit their winnings and will be prohibited from participating in any future promotional event.

We are excited about the progress on Binance Chain and Binance DEX. Spend is a proud supporter of their ecosystem. As an extra bonus for our Spend Wallet users, we are offering an additional 1% rewards back (in addition to our robust rewards program) when users spend SPNDB or BNB for the duration of this event!

Part II

How to swap SPND to SPNDB on the Spend Wallet

To exchange SPND to SPNDB on the Spend Wallet app, users first need to download the app for iOS or Android:

iOS: https://apps.apple.com/us/app/id1357740381

Android: https://play.google.com/store/apps/details?id=com.spend.app

To learn how to register an account and complete KYC, please click here: https://help.spend.com/hc/en-us/articles/360016451193-How-to-get-Tier-1-Verified-in-the-Spend-Wallet-App

Once the user is at least tier 1 verified (if approved, it will be instant), the user will be able to swap SPND to SPNDB instantly using the app by following these steps:

2. Click the Bitcoin Asset Card to change the asset

3. Scroll down and select Spendcoin with the yellow icon (SPNDB)

4. Enter the amount that is wanted to exchange 1 to 1 by manually inputing a number or using the scroll bar

5. Read and accept the terms by clicking the blue link and checking the box to agree to the terms

6. View the confirmation screen that will show the conversion

7. Press confirm with Passcode (or Biometrics/Password). User will then see a success screen

How to Transfer SPNDB to Binance DEX for Free

To now transfer the SPNDB to Binance DEX, swipe over to the SPND wallet by using the 3 line menu button or by swiping to the wallet (it will be a yellow Spendcoin Wallet) and follow these instructions below:

2. Enter the amount wanted to send in either USD or SPNDB (user can select the input type by pressing the arrow icon on the right side)

3. Now, user will be required to enter the BNB address wanted to send the SPNDB to. To do this, login to Binance Wallet on Binance DEX and click “Balances”. From there, user will see their BNB address and can copy it from there

4. Enter the BNB address in user’s Spend Wallet “To” field

5. Press Next and user will see the confirmation screen

6. Once confirmed, press “Passcode” (or Biometrics/Password) to complete the transaction. When complete, user will see the success screen

Thank you,

The Spend Team

Spend reserves the right to terminate or end this competition at any time for any reason without prior notice.

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Peter Hertel

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It’s easy to Spend! Learn to spend digitally and manage your funds with spend.com!