Binance Launches Ramadan Trading Fee Rebate Event with 50,000 FDUSD Pool

Binance celebrates Ramadan with a special event, offering 50,000 FDUSD in trading fee rebate vouchers for users completing set tasks.

In honor of the holy month of Ramadan, global cryptocurrency exchange Binance has announced a unique event that allows users to share a pool of 50,000 FDUSD in trading fee rebate vouchers. The event, which aligns with the spirit of giving during Ramadan, commences on March 14, 2024, and concludes on March 28, 2024.

Unlock the Moon: Collect, Trade, and Earn

The event, aptly named “Unlock the Moon,” encourages users to engage in various trading activities to collect Fanoos Lantern icon cards. Participants can accumulate these cards by making a deposit of at least 50 FDUSD equivalent through Fiat Deposit, purchasing crypto with a Credit/Debit Card, or using Binance P2P. Additionally, completing a trade of at least 100 FDUSD equivalent in qualified spot trading pairs will grant users additional cards. The qualified trading pairs include BTC/FDUSD, BTC/USDT, BNB/FDUSD, BNB/USDT, ETH/FDUSD, and ETH/USDT.

To foster a community spirit, Binance incentivizes users to exchange their collected icon cards with friends or on social media, enhancing their chances to generate the “Moon” and claim their share of the rewards.

Reward Distribution and Terms

The reward for each qualified user will be calculated based on the proportion of icon cards they collect relative to the total number by all participants. However, individual rewards are capped at 10 FDUSD in trading fee rebate vouchers, ensuring a fair distribution among all users who successfully complete the tasks.

The terms and conditions of the event stipulate that only verified users who unlock the “Moon” and complete a task during the event period will qualify for rewards. Binance also emphasizes that the availability of the activity may vary by region.

Market and Community Impact

This special event is expected to increase user engagement on the Binance platform, as traders participate to earn rewards while celebrating Ramadan. It also showcases Binance’s commitment to cultural diversity and inclusivity, recognizing important occasions in various communities around the world.

Binance has stated that trading fee rebate voucher rewards will be distributed within two weeks after the event concludes. Users can redeem their vouchers via the Rewards Hub in their profile.

Ensuring Fair Participation

Binance reserves the right to disqualify any participant engaging in wash trades or other manipulative behaviors. The exchange’s message is clear – the spirit of fair play and community must guide the event, reflecting the values of Ramadan.

Conclusion and Considerations

Participants are reminded that despite the festive occasion, trading digital assets comes with significant risk due to market volatility. Binance encourages users to trade responsibly and to seek independent financial advice if necessary.

This event is an innovative way for Binance to engage with its user base while respecting cultural practices, providing an opportunity for users to participate in the cryptocurrency market in a festive and potentially rewarding way.

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This article was originally reported on Blockchain News.