The biggest trading contest to date on KyberSwap launched today, with 300 prizes and over $10,000 to be won

To celebrate Bitcoin’s Halving event on May 11th (thus the 1.15 BTC prize pool), we are happy to announce an exciting joint trading contest with the pTokens team. The contest will be available from 21 May 2020 21:00 to 05 June 2020 23:59 (GMT+8). Similar to previous KyberSwap contests, users will need to trade to accumulate points and the top winners will share a prize pool.

Users that successfully trade pBTC by using the swap function in KyberSwap during the contest period will accumulate points based on their trade amount.

1.15 BTC worth of prizes (>$10,000)!

Top 300 traders will share the total prize pool of 1.15 BTC worth of rewards. Please note that to accumulate points, one of the tokens traded must be pBTC (any token → pBTC or pBTC → any token). No minimum trade amount. Limit order for pBTC is not available for this contest.

300 Prizes in total:

🥇1st place: 0.1953 pBTC (~$1,800)

🥈2nd: 0.1058 pBTC (~ $1,000)

🥉3rd: 0.0651 pBTC (~$600)

⚡Next 47 places (rank 4–50) — 0.0054 pBTC each (~50 USD)

⚡Next 50 places (rank 51–100) — 0.0038 pBTC each (~35 USD)

⚡Next 100 places (rank 101–200) — 0.0022 pBTC each (~20 USD)

⚡Next 100 places (rank 201–300) — 0.0012 pBTC each (~11 USD)

How to win

1. Sign in to your KyberSwap account via email, FB, Google, Twitter, or Telegram. No KYC needed.

2. Perform a token swap, with one of the tokens being pBTC (any token → pBTC or pBTC → any token). No minimum trade amount.

3. Trading amount will be converted to ETH, and for every ETH, the user will be awarded 1 point. Up to 4 decimal places.

4. User must be logged in to KyberSwap in order to accumulate points. No KYC needed.

BIG tip: you can hold 2,000 KNC in your wallet to get 20% more bonus points for every pBTC trade.

Trading pBTC on our Android or iOS app will yield you another 20% bonus points.

Download our app on Android / iOS TestFlight

Click here to participate in this contest.

Win even more by retweeting about this contest

10 lucky Twitter winners will also get $30 each after they:

• Follow @pTokens_io and @KyberSwap on Twitter;

• Retweet our pinned tweet about the pBTC trading contest.

• Tag 3 friends in the comments, with the hashtag #tradepBTC

Duration: 21 May 21:00 to 05 June 23:59 (GMT+8).

*Winners will be randomly selected

pTokens: Connecting any token with any blockchain

One huge drawback that comes with the DeFi sphere’s rapid growth is that current liquidity cannot accommodate the constant flow of new tools and platforms. Liquidity is largely spread across a number of blockchains and difficult to merge into a single pool. This creates a huge bottleneck, and with the majority of the DeFi industry built upon the Ethereum network, hundreds of DeFi DApps remain inaccessible to non-Ethereum crypto holders.

pTokens are a new tool to enable DeFi composability for any and every blockchain and token. They make DApps compatible with any crypto asset, letting liquidity flow instantly and seamlessly between different blockchains, expanding the world of DeFi.

pBTC — instantly utilize BTC in the Ethereum network

pBTC marks the first example of pTokens, making Bitcoin compatible with the Ethereum network and the ERC-20 standard. It is pegged 1:1 with real BTC so its value is intrinsically linked to that of Bitcoin’s. This means 1 pBTC is always equal to 1 BTC.This provides instant and frictionless access to Ethereum’s DeFi world for every bitcoin holder, opening up Bitcoin liquidity to DeFi dApps. BTC holders will be able to lock their BTC and instantly mint new pBTC, maintain their stake in bitcoin, while also making their coins completely usable in the Ethereum ecosystem. This invites Bitcoin users to explore the hundreds of Ethereum DApps, platforms and tools available today.

Source:Paper.li