Binance Launches PHAROS Trading Competition with $200K in Rewards

Binance Wallet announced on X the launch of the PHAROS Trading Competition, offering participants a chance to win a share of $200,000 in rewards. The competition introduces a new feature called the Early Bird Multiplier, which incentivizes early trading activity by offering a 3.0x multiplier for trades made on the first day. This multiplier decreases as the competition progresses, encouraging traders to engage early. Participants are required to click 'Join' on the Binance App event page to begin tracking their trade volume. It is important to note that only buy volumes are considered in this competition, as selling activities are excluded from the calculation. This structure aims to encourage buying activity specifically. The competition is designed to reward active traders who engage with the PHAROS token, providing an opportunity to maximize their potential earnings through strategic trading decisions.