Binance Futures Announces $170k Reward for USDC-Margined Futures

Binance Futures Announces $170k Reward for USDC-Margined Futures

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Binance Futures, the dedicated derivatives arm of leading crypto exchange Binance, has announced a bumper campaign to promote its recent introduction of USDC-margined perpetual trading pairs. 

Having rolled out BTC, ETH, BNB, SOL and XRP earlier this month, the futures platform will give away up to $170,000 in USDC as part of the early-year promotional push. 

Discounts Galore and A Bumper Prize Pool

Aimed at regular and VIP 1-3 users, Binance Futures plans to give all users a 10% trading fee discount on USDC-margined contracts for a three-month spell ending on April 3 as part of the campaign.

Additionally, the first 5,000 derivatives traders to make a net deposit of at least $100 USDC will receive a $5 trading fee rebate voucher, providing they maintain their deposit amount for five days during the 3-month campaign; maintaining the deposit value for at least ten days will entail a $10 rebate.

The first 2,000 users who make a higher deposit of $500 or more, meanwhile, will receive a $10 or $15 trading fee rebate voucher. In total, rebate vouchers worth $125,000 will be given to users to encourage them to interact with the new USDC-margined futures.

Perhaps the most alluring element of the campaign is the dynamic rewards pool that has been created. Binance Futures power users – those who register on the campaign landing page and trade a minimum position of $1,000 in the USDC-margined perpetual contracts – are eligible for a share of the rewards pool, which goes up to $45,000.

As is typically the case with such pools, only a certain number of participants will be eligible for each tier, with 6,000 in line for the $45,000 pot.

Crypto derivatives contracts derive value from an underlying crypto asset, giving traders the opportunity to gain exposure to its price movement without physically owning it. Futures contracts, such as those offered by Binance, let users go long or short on an asset using leverage.

Binance Futures has been expanding its offerings lately, having recently unveiled a new product, the USDⓈ-M MOVR Perpetual Contract, with up to 50x leverage. With market sentiment improving due to the expected approval of a Bitcoin spot ETF, not to mention the upcoming fourth Bitcoin halving, many commentators believe we could be on the cusp of a bull market. Whether that optimism bears out (pardon the pun), of course, remains to be seen

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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