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Bybit will launch a USDT giveaway to traders on its platform on April 9, according to a press release. The giveaway is the first in a series of Tether airdrop events to mark the launch of a new range of USDT perpetual contracts available on the Bybit platform. Traders must have a Bybit account and be registered to participate in the giveaway.

The value of USDT tokens awarded to each trader will depend on their overall trading volume and net USDT deposits in their Bybit accounts but could total up to 1,000 USDT.

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How to Participate

The giveaway will commence on April 13 at 10 am UTC when Bybit will take the first snapshot of participating user’s accounts. To be eligible for the first giveaway, traders should have a minimum of 0.5 BTC in their Bybit wallet, for which they’ll receive 50 USDT. Bybit will take a second snapshot at 10 am on April 16, when traders with more than 50 USDT in their wallet will receive coupons to the value of 60 USDT. Traders can boost their awards by up to 20% by pre-registering for the giveaway between April 9 and 12.

Bybit is launching the giveaway to celebrate the unveiling of its new range of USDT perpetual contracts last month. The new contracts use USDT as the underlying, and include BTCUSDT, ETHUSDT, and XRPUSDT pairs.

Using Tether instead of US dollars means that Bybit traders can fund their account in USDT, rather than each of the underlying cryptocurrencies, for trading any of the contracts. The new contracts also enable traders to take both long and short positions against the same asset and to use their account balances and trading profits to fund margin across different contract types.

As part of the giveaway, Bybit is also seeking feedback about trader’s experiences with the new contracts. During the airdrop, users can provide Bybit with feedback in a bit to become one of the platforms “MVFs” (Most Valuable Feedbackers.). In doing so, they can become eligible for a further giveaway bonus of 500 USDT, along with a commemorative coin minted in real sterling silver.

Ben Zhou, CEO of Bybit, stated: “This airdrop will incentivize traders to hold the most liquid and trusted stablecoin on the market. Small traders, as well as bigger players, will be rewarded according to their activity, giving all Bybit users an incentive to get involved.”

Binance Celebrates Solana Listing

Binance is another exchange celebrating this month. The exchange giant is marking its listing of the Solana (SOL) token with an airdrop campaign of its own. Between April 7 and April 9, Binance users can participate in a bounty program to win a share of $50,000 worth of SOL tokens. To participate in the airdrop, users have to complete five tasks listed on the competition announcement page.

These include completing a brief quiz about the Solana blockchain, following on social channels, and referring a friend. Those who complete all five tasks will receive a guaranteed airdrop of $20 worth of SOL tokens, with the opportunity to win up to $1,000 worth as part of a random prize draw.

Once the contest closes, Binance will list the SOL token in SOL/BNB, SOL/BTC, and SOL/BUSD pairs. Binance is the latest company to provide backing to ultra-fast blockchain project Solana, which has also recently been associated with Chainlink and Bison Trails, a member of the Libra Association.