Binance, the largest cryptocurrency exchange by trading volume announced it’s giving away Tesla Cybertruck worth $47,000 and $27,800 to celebrate the addition of the Kava Token to its margin trading, with 3x leverage on its BTC and USDT trading pairs.
Kava Token is the native token of Kava Labs, a decentralized finance (DeFI) platform powered by Cosmos technology.
The announcement was published on its official website and shared with its teeming followers on the Microblogging platform, Twitter, on 8th June 2020. According to the report, the giveaway is powered by Binance in conjunction with Kava Labs.
“Binance Adds Kava Labs to Margin Trading – Trade KAVA to Win a Tesla Cybertruck and $27,800 in KAVA Tokens!” Binance shared.
— Binance (@binance) June 8, 2020
How to Win Tesla Cybertruck and $27,800 via Binance Promotion
According to Binance exchange, the competition started today 9th June 2020 at 0:00 AM (UTC) and will end on 16th June 2020 at 0:00 AM (UTC). The competition is sectioned into three.
In the first part of the promotion, users are to trade to win a Tesla Cybertruck. The top trader that has the most KAVA trading volume in the course of the activity will win Tesla’s new product, Cybertruck, including a single motor RWD and full self-driving package.
Recall that the last time the exchange gave a Cybertruck away was in December 2019, but the winner is seemingly yet to receive the prize. According to the latest estimates on the Tesla website, the delivery of the trucks will not commence until late 2021.
In the second part of the promotion, there will be a lucky draw, where traders will be qualified to share $27,800 in KAVA Tokens.
The last part of the promotion is for all users that borrow KAVA from Binance Margin to enjoy zero borrowing fees and VIP+1 borrowing volume in the course of the promotion activity. The borrowing structure is highlighted in the table: