Binance launches a new “Word of the Day” theme to enhance users’ crypto vocabulary and update them on market developments.
Binance, a prominent global cryptocurrency exchange, has unveiled the “Word of the Day” (WOTD) game as a novel educational initiative with a thematic focus. This compelling exercise seeks to enhance the participants’ crypto lexicon and inform them of the most recent market developments.
The scheduled dates for the WOTD contest are May 20, 2024, to May 26, 2024. Participants can contribute to a pool of 500,000 Binance Points.
The points above are redeemable for user rewards uniquely designed for this endeavor. Furthermore, in the one-hour period following the announcement, the Binance Coin (BNB) rebounded with a 1.24% increase.
This week, eligible Binance users may participate in the WOTD game, which focuses on Decentralized Applications (DApps) and allows them to play a maximum of two games daily. To be eligible for the reward, participants must provide accurate responses to a minimum of five inquiries during the activity period.
In addition, participants who achieve success will divide a pool of 500,000 Binance Points equally. These points are redeemable for an assortment of rewards. As per the most recent declaration from Binance, these incentives consist of vouchers redeemable for trading commission rebates of up to 50 USDT at the Rewards Hub and vouchers redeemable for up to 10 USDT tokens.
User registration for the WOTD game requires an initial login to their Binance account. Upon successfully finishing the daily’s initial game, participants can acquire a second game by selecting the “Get A New WOTD” option.
This requires ensuring that a third party clicks the shared link and sharing one of the selected articles on social media. In addition to encouraging user participation, this mechanism also disseminates educational content regarding cryptocurrencies.
Additionally, spot trading fees will be discounted by 10% for new users who register during the activity period using the referral code “WOTD2024” or the supplied referral link. Further, welcome incentives can be obtained by fulfilling assignments within a fourteen-day period following registration. One can access these incentives via the Rewards Hub.
Binance Points comprise the loyalty program of the leading cryptocurrency exchange. It provides users with the chance to accrue and earn points through the completion of duties and participation in a variety of activities.
Reward options are available for redemption in the Rewards Shop. Users should be aware, however, that any Binance Points earned that are not redeemed by the end of the month in the subsequent year will expire.
Binance’s Activity Terms, Terms and Conditions for Prize Promotions, Terms of Service, and Privacy Policy govern participation in the WOTD game. Participation is restricted to users from eligible regions who have successfully completed account verification; the game may not be accessible in all regions.
Furthermore, the crypto exchange also reserves the right to disqualify participants found engaging in dishonest behavior. Hence, participants should refrain from questionable practices, such as wash trading or market manipulation. Additionally, the CEX retains the discretion to amend or cancel the activity terms and conditions without prior notice.
Despite the recent rebound, the BNB price slumped thereafter. At the time of writing on Monday, May 20, the BNB crypto value dropped 0.45% to $575.82, while the crypto held a market valuation of $84.98 billion. On the contrary, the trading volume for BNB surged 5.82% to $1.40 billion.
Earlier, during the price recovery. BNB rallied past the $580 mark and attained the day’s peak at $580.99. However, BNB’s monthly gain is lower than 3%, which indicates a weak performance lately. Moreover, the Binance Coin has lost over 3% in a week, testing crucial support levels.
