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Decryptica
@decryptica
Sahara Trading Competition on Binance I decided to participate in my first Binance Competition on Spot. I joined it on this page (https://www.binance.com/en/activity/trading-competition/spot-sahara-listing-campaign). 8 days left until the end. 1.5 million $SAHARA tokens are prepared for this trading competition. If you scroll down the page, you can find your current trading volume — it's updated once per day at 07:00 UTC. From the leaderboard we can learn how much trading volume other users do. 🔸How much I spend to do $10,000 trading volume • Trading volume is calculated as a sum of buy and sell operations. • I traded using 500 USDT. I did 10 buys ($5000) and 10 sells ($5000). I was using limit orders. • I spent 10 cents + 0.0102 BNB on fees = $6.8 🔸How much I’ll earn • Let’s say I’m going to do 100,000 trading volume. It will cost ~6.8 x 10 = $68. • 100,000 (my trading volume) / 56,675,833 (total trading volume) x 1,500,000 ($SAHARA tokens for this promotion) = 2646 $SAHARA I could potentially receive at this moment. • 2646 x 0.075 = ~$198 potential rewards. • 198 - 68 = $130 potential profit • Since the total trading volume will increase, the reward per participant will go down. You should understand this because this is the main risk: you can spend more than you get. 🔸How to lower fees I pay for the fees using BNB. Using BNB saves 25% fees. You need to turn it on in your settings as shown in the picture.
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