Lynchpin rolls out two trading competitions on BigONE exchange

Written by: Jinia Shawdagor
January 18, 2021
  • The first competition will involve the purchase of LYN tokens on BigONE.
  • The second competition will award traders with the highest number of winning trades on LYN.
  • These campaigns seek to increase LYN’s buy orders, hence improving the coin’s value.

Lynchpin has launched two trading competitions for the holders of its LYN token and the crypto community as a whole. The Lynchpin team unveiled this news, noting that the campaigns will reward participants for trading and holding LYN on BigONE, a digital asset trading and trusteeship platform that helps users pinpoint invaluable blockchain assets from all over the world. Allegedly, the competitions will take place bi-weekly throughout this year.

LYN net buying contest

According to the announcement, Lynchpin launched these campaigns to help generate more buy orders for LYN, therefore increasing the coin’s price. Reportedly, the first competition involved the purchase of LYN on BigONE. The first event started at 3:00 PM UTC+8 on January 4, 2021. Another event is going on today, and the rest will come after every two weeks till the end of 2021. The last competition will be on January 2, 2022. These contests will be open to everyone, and there will be 2,500 USDT up for grabs.

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To identify the winners, the firm will calculate the net purchases of each participant and deduct their total sales. The person that takes the first place will walk away with 1,000 USDT while those in the second and third positions will get 500 USDT and 300 USDT, respectively. The participants that occupy positions 4 to 10 will get 100 USDT each.

Laying out the rules of this competition, the announcement noted that all users that complete self-to-self transactions or reverse transactions will be disqualified. At the time of the net purchase event, BigONE will suspend the LYN deposit event. Winners will have to wait three working days after the event comes to an end to get their rewards. Considering BigONE does not offer price endorsements or project guarantees, the announcement urged participants to allocate their funds reasonably to prevent losses. Additionally, BigONE and LYN project parties hold the right to the final interpretation of the event.

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Traders with the most winning trades on LYN token

The second competition will need traders to attach their winning trades history and their BigONE user ID to an email and send it to [email protected] and allow the Lynchpin and BigONE teams to verify this information. The trader with the highest number of winning trades will then stand a chance to win monthly prizes. The overall top trader will then receive a grand prize. This campaign will have £56,860 worth of USDT to be won.

The trader with the most winning trades in the bi-weekly competition will walk away with 1250 USDT. The runner-up and the second runner-up will get 750 USDT and 500 USDT, respectively. These events will start on February 1 and end on December 19. The grand prize will be awarded to the trader with the highest number of winning trades after the 12th session of the trading competition. It will be worth 50,000 USDT.

About Lynchpin and LYN

Lynchpin is the organization behind LYN. The Lynchpin team focuses on introducing initiatives that will enhance the token’s purchase, therefore increasing its price. The token runs on the Ethereum blockchain, which also acts as the token’s confirmation network. However, the coin does not leverage a PoS or PoW consensus to fight inflation. Instead, the project avoided the use of bounty campaigns since the coin’s inception, a move that reportedly helps the coin preserve its intrinsic value.