By Tobi Loba
Binance, the largest cryptocurrency exchange by trading volume announced that it will list Solana (SOL) on its trading platform, with a reward of $50,000 in SOL tokens for the users.
The report of the new development was shared via the official website and Twitter handle of the Binance exchange a few hours ago.
According to the report, trading will be opened for SOL/BNB, SOL/BTC and SOL/BUSD trading pairs on 9th April 2020, at 4:00 AM (UTC).
#Binance Will List @solana $SOL and Launch a $50,000 Bounty Promotionhttps://t.co/bYJMCjlmbv pic.twitter.com/1VTlrrkC8C
— Binance (@binance) April 7, 2020
The exchange further instructed its users to start depositing Solana (SOL) in readiness for trading.
See How to Qualify for the $50,000 in Solana (SOL) Giveaway
According to Binance exchange, the bounty promotion started on 7th April 2020, at 5:00 AM to 9th April 2020, at 0:00 AM (UTC). Within this period, a user could will up to $1,000 in SOL tokens.
The $50,000 bounty giveaway is meant to celebrate the listing of Solana (SOL) on the exchange. Binance and Solana join hands to make the bounty promotion a reality.
To qualify, users have to read the primer and complete the Solana Quiz provided at the bottom of the page. The interested users should also join the Solana Telegram and follow on Twitter.
Users should as well subscribe to Solana Newsletter and refer a friend who completes the Solana Quiz. After following the steps properly, users will need to register their completion of tasks via the Solana Airdrop page.
How Rewards Will Be Shared Among the Participants
According to the report, the first 1,000 users to be verified for completing the 5 tasks will be rewarded with $20 in SOL each.
Users with at least three complete and verified tasks will be included in a draw to win $10 in SOL tokens, from which 3,000 participants will be randomly selected.
Also, the users with a minimum of four complete and verified tasks will be included in a random selection to win $100 in SOL tokens, from which 10 lucky participants will be selected.
Conclusively, all users that complete all the 5 tasks will be added into a random draw to win $1,000 in SOL tokens, where 1 participant will be randomly selected.
Risk Warning: Binance exchange warned its users about the risk that abounds in the cryptocurrency trading. This is due to the high volatility of digital currencies in the crypto market. Binance thereby implored its users to trade carefully and responsibly.