To celebrate Bitcoin’s Halving event on May 11th (thus the 1.15 BTC prize pool), KyberSwap announced trading contest with the pTokens team. Users that successfully trade pBTC by using the swap function in KyberSwap during the contest period will accumulate points based on their trade amount and the top winners will share a prize pool.
BIG tip: you can hold 2,000 KNC in your wallet to get 20% more bonus points for every pBTC trade. Trading pBTC on our Android or iOS app will yield you another 20% bonus points.
Click here to participate in this contest.
Top 300 traders will share the total prize pool of 1.15 BTC worth of rewards. Please note that to accumulate points, one of the tokens traded must be pBTC (any token → pBTC or pBTC → any token). No minimum trade amount. Limit order for pBTC is not available for this contest.
300 Prizes in total:
10 lucky Twitter winners will also get $30 each after they:
*Winners will be randomly selected
One huge drawback that comes with the DeFi sphere’s rapid growth is that current liquidity cannot accommodate the constant flow of new tools and platforms. Liquidity is largely spread across a number of blockchains and difficult to merge into a single pool. This creates a huge bottleneck, and with the majority of the DeFi industry built upon the Ethereum network, hundreds of DeFi DApps remain inaccessible to non-Ethereum crypto holders.
pTokens are a new tool to enable DeFi composability for any and every blockchain and token. They make DApps compatible with any crypto asset, letting liquidity flow instantly and seamlessly between different blockchains, expanding the world of DeFi.
pBTC marks the first example of pTokens, making Bitcoin compatible with the Ethereum network and the ERC-20 standard. It is pegged 1:1 with real BTC so its value is intrinsically linked to that of Bitcoin’s. This means 1 pBTC is always equal to 1 BTC.This provides instant and frictionless access to Ethereum’s DeFi world for every bitcoin holder, opening up Bitcoin liquidity to DeFi dApps. BTC holders will be able to lock their BTC and instantly mint new pBTC, maintain their stake in bitcoin, while also making their coins completely usable in the Ethereum ecosystem. This invites Bitcoin users to explore the hundreds of Ethereum DApps, platforms and tools available today.