The world of decentralized finance (DeFi) and blockchain innovation continues to evolve at a rapid pace, and Binance remains at the forefront by launching engaging community initiatives. From simulation trading contests to high-reward trading competitions and new token launches, Binance is empowering users to explore emerging projects, test strategies, and win valuable prizes. This comprehensive overview covers key events including the Binance DEX Testnet Simulation Trading Competition, IOST and FET trading tournaments, and the highly anticipated Matic Network (MATIC) Launchpad offering.
These programs are designed not only to reward active participation but also to deepen user understanding of decentralized exchanges, tokenomics, and next-generation blockchain scalability solutions.
Binance DEX Testnet Simulation Trading Competition
Event Period: March 7, 2019, 16:00 – March 21, 2019, 16:00 (Hong Kong Time)
To promote awareness and hands-on experience with Binance DEX, Binance hosted a simulation trading competition on the Binance Chain testnet. All Binance accounts with a minimum balance of 1 BNB were eligible to join.
Each eligible account could link up to 20 Binance DEX wallet addresses, with each address receiving 200 BNB in test funds. This setup allowed participants to experiment with token creation, trading strategies, and market dynamics in a risk-free environment.
Activity 1: Token Ranking Challenge
Participants who issued tokens on the Binance Chain and listed them for trading competed based on market activity. Only trading pairs involving the issued token against BNB were considered.
Tokens were ranked by their "trading volatility sum"—calculated as the cumulative sum of the price difference (capped at 10) every five minutes during the listing period.
Rewards:
- 1st Place: 3,000 BNB
- 2nd Place: 2,000 BNB
- 3rd Place: 1,000 BNB
Key Rules:
- Each Binance account could submit only one token for ranking.
- To qualify, a token’s trading activity needed to involve over 20,000 unique addresses, each executing at least one buy or sell order.
- The metric emphasized organic market engagement over artificial price swings.
Activity 2: Absolute Profit Challenge
This segment focused on traders’ ability to generate returns across major assets on the testnet.
Eligible trading pairs included:
- BNB
- BTC.B
- ETH.B
- USDT.B
- XRP.B
Profits were calculated in BNB-equivalent value, using a historical average price method for non-BNB assets at the end of the event.
Profit Formula:
Absolute Return = (Final Balance) – (Initial Balance + Net Transfers In)
Transfers from non-linked wallets counted toward deposits, but were capped at an equivalent of 8,000 BNB per user. Excess amounts were deducted from profits.
Rewards:
- 1st Place: 1,000 BNB
- 2nd Place: 700 BNB
- 3rd Place: 300 BNB
- 4th–10th: Shared 1,000 BNB
- 11th–20th: Shared 1,000 BNB
Users could combine results across multiple linked addresses under one account.
IOST Trading Competition: Win 10,000 BNB
Event Period: March 21 – March 28, 2019 (UTC+8)
Celebrating the successful mainnet upgrade of IOST, Binance launched a high-stakes trading competition with a total prize pool of 10,000 BNB.
Activity 1: Skill-Based Rewards (8,000 BNB Pool)
Based on effective trading volume (excluding self-trading), top performers were rewarded:
- 1st Place: 2,000 BNB
- 2nd Place: 1,500 BNB
- 3rd Place: 1,000 BNB
- 4th–10th: Shared 3,500 BNB
Activity 2: Lucky Draw Rewards (2,000 BNB Pool)
A luck-based tier ensured broader participation:
- Users ranked within the top 4,000 by trading volume whose rank ended in “1” (e.g., 1st, 11th, 21st…) shared 2,000 BNB equally.
Note: Winners of the skill-based category were excluded from the lucky draw.
This dual-reward system balanced recognition for consistent traders with opportunities for wider community engagement.
FET Trading Contest: Win Up to 400,000 FET
Event Period: March 29 – April 5, 2019 (Hong Kong Time)
Marking the listing of Fetch.ai (FET) on Binance, this competition offered a prize pool of 400,000 FET.
Skill-Based Prizes (300,000 FET Pool)
Rewards distributed by trading volume:
- 1st Place: 100,000 FET
- 2nd Place: 50,000 FET
- 3rd Place: 30,000 FET
- 4th–10th: Shared 120,000 FET
Lucky Winners (100,000 FET Pool)
Traders ranked in the top 1,000 with a rank ending in “1” split the bonus pool equally.
Similar rules applied—no self-trading allowed, sub-accounts treated independently, and skill winners excluded from luck rewards.
Celer Token (CELR) Launch and Distribution
Listing Date: March 25, 2019, 12:00 PM (Hong Kong Time)
Binance officially listed Celer Token (CELR) with zero listing fee and opened trading pairs:
- CELR/BNB
- CELR/BTC
- CELR/USDT
All tokens from the Launchpad sale and the “Play CelerX App & Win CELR” campaign had been successfully distributed. Users could verify their balances under “Distribution Records” in their account dashboard—ensuring they did not enable “Hide Small Assets” to view full holdings.
Matic Network (MATIC) Launchpad: Scaling Ethereum with Layer-2 Solutions
Sale Period: April 24 – April 26, 2019 (Hong Kong Time)
Binance introduced Matic Network (now Polygon) via its Launchpad platform—a project focused on Ethereum scalability using a Layer-2 sidechain solution.
Key Details:
- Token Name: Matic Token (MATIC)
- Total Supply: 10 billion MATIC
- Launchpad Allocation: 1.9 billion MATIC (19%)
- Price: 1 MATIC = $0.00263 USD
- Sale Mode: Lottery-based selection
Lottery Mechanics:
- Users needed to sign a purchase agreement after April 1, 2019.
- Eligibility determined by average BNB holdings over a 20-day window (April 5 – April 24).
Each qualifying user received lottery tickets based on BNB balance:
- More BNB = More tickets (max of 5 per user)
- Each winning ticket allowed purchase of $300 worth of MATIC (~114,068.44 MATIC per ticket)
- Maximum allocation per user: 16,666 tickets
Important Dates:
- April 24, 16:00 HKT: Sale opens
- April 25, 16:00 HKT: Sign-up closes
- April 25, 22:00 HKT: Winners announced
- Within 24 hours: BNB deducted from winning accounts
KYC verification was mandatory. Participation was restricted in several jurisdictions including the U.S., China, Canada, and others due to regulatory compliance.
Frequently Asked Questions (FAQ)
Q1: What is the purpose of the Binance DEX simulation contest?
The contest aimed to educate users about decentralized exchanges by providing test funds and real-time trading experience on the Binance Chain testnet—helping developers and traders understand DEX mechanics without financial risk.
Q2: How were winners selected in the IOST and FET trading competitions?
Winners were ranked by effective trading volume. Self-trading was excluded. Two tiers existed: skill-based (top volume) and lucky draw (specific rank endings), ensuring both performance and broad participation were rewarded.
Q3: Can sub-accounts participate independently in these events?
Yes. Sub-accounts were treated as separate entities in all trading competitions unless otherwise specified.
Q4: How was profit calculated in the DEX simulation challenge?
Profit was based on absolute return in BNB value. It considered final balance minus initial balance and net deposits. Transfers were capped at 8,000 BNB equivalent to prevent manipulation.
Q5: Why was a lottery system used for Matic Network’s Launchpad?
The lottery ensured fair access during high-demand token sales. By linking eligibility to BNB holdings over time, it prioritized long-term supporters while preventing last-minute speculative accumulation.
Q6: Are testnet tokens redeemable for real value?
No. All tokens used in testnet environments are virtual and intended solely for simulation and development purposes. They hold no monetary value.
These initiatives highlight Binance’s commitment to fostering innovation through education, competition, and equitable access to emerging blockchain projects. Whether you're a trader, developer, or DeFi enthusiast, such events offer valuable opportunities to learn, earn, and contribute to the ecosystem’s growth.