For all the Futures Traders out there, a DPTP 2.0 Incentivized Testnet event worth $1500 of POSI is being held by Position Exchange for its loyal users, which is also free for everyone who participates. The objective of this event is to enhance Futures Trading on Position Exchange and release the best possible version of it. This particular event's Round 2 has already begun; its Round 1 began on November 4, 2022.
Why the Need to Participate in the POSI Incentivized Testnet Event?
Participants have the chance to win immense rewards in the $30,000 prize pool, wherein each winner has a chance to accumulate up to $1,500 by engaging in the platform's several programs. There are numerous opportunities to make money through various courses. And best of all, users get to experience futures trading in the first DEX that offers CEX-like perspectives.
Simple Steps on How to Join the Event
The following are simple procedures wherein one can garner specific points in order to get chosen; more points increase your chances of winning.
🟢 Follow Position Exchange's Twitter account, like, and retweet their posts = 5 points
🟢 Participate in the chat in Position Exchange's Discord Channel and advance your level = 15 points
🟢 Refer 5 friends to join their Discord = 5 points/referral
🟢 Connect your wallet and press on the claim 10k TBUSD button to receive your testnet tokens. (P.S. Make sure you're using the Binance Smart Chain Testnet network for your crypto wallet to be eligible on claiming the 10k TBUSD)
🟢 Open position and trade with the testnet tokens on Position Exchange website. At the end of the phase, points will be calculated based on the PnL leaderboard.
The following are optional tasks but hey, points will be points, ain't that right?
🟢 Make original content and share it on your social media platforms (e.g. Twitter, Facebook, Instagram, Youtube, etc.)
🟢 Report existing bugs - 20 points/verified bug
Event's Timeline
The event consists of 3 rounds:
Round 1: Nov 7th - 13th
Round 2: Nov 14th - 20th
Round 3: Nov 21st - 28th
Reward System
Each round's winner is selected at random. Keep in mind that your chances of winning increase as your point total rises. Those with the top 5 highest points will automatically win and receive a bonus of at least $50.
Number of Winners
Round 1: 450
Round 2: 300
Round 3: 100
The event's rewards increase in proportion to how competitive the mechanics for the current round is.
Position Exchange (POSI): What Is It?
Position Exchange is a decentralized cryptocurrency platform designed to improve the DeFi experience while bridging the gap between people and cryptocurrencies. The community of the protocol controls and runs it entirely. In an open, transparent, and trustless system where everything takes place on-chain, the platform aims to provide users a large selection of DeFi items (on the blockchain). The platform combines typical centralized finance tools and experiences with all the advantages of decentralized finance.
The foundation of Position Exchange's ecosystem is the POSI token, the native utility BEP-20 token. Holders may take advantage of a number of advantages and use POSI to other platform functions. Using the on-chain Buy-Back and Burn technique, the protocol distributes all fees and profits to all POSI holders. In a process known as "Buy-Back and Burn," the platform purchases the tokens and then burns or destroys them by transferring them to an invalid or useless wallet address. The token is burned in order to reduce its supply in circulation and raise the token's value.
Additionally, POSI holders hope to receive a range of advantages, including the following:
• Holders of POSI tokens hope to profit by staking their tokens in staking pools. Holders can therefore generate passive income.
• By suggesting changes and casting votes for them, POSI holders can take part in the governance of the platform.
• POSI token holders want to split a 1% transaction fee while only holding the tokens.
• Holders of POSI tokens are eligible for reduced trading protocol fees.
• NFTs can be cast using POSI tokens.
Position Exchange's Origin
The project's team and partners are diverse and have a wealth of knowledge in blockchain, finance, trading, programming, smart contracts, and cryptocurrencies. The team has agreed to keep their identities a secret for the initial phases of the project. This choice was chosen after giving Position Exchange and how to build trust in the project's potential rather than in specific people a lot of attention.
