Round 9 of Voting Opened For Binance’s Community Coin Of The Month
Cryptocurrency exchange giants, Binance have made it a tradition to direct a community-based competition every month in which users will vote on the coin of their choice to possibly be listed on the exchange.
Now, the voting for Binance’s community coin of the month – Round 9 has opened. Voting Period is 2018/08/27 10:00 AM (UTC) to 2018/08/31 10:00 AM (UTC).
— Binance (@binance) August 27, 2018
Candidates for Round 9 are:
However, not many users are happy about Binance’s selection for coins, calling it a “S*** Coin City.”
New changes in this round of voting
Based on the feedbacks received, Binance has adjusted a couple of rules. Firstly, only users with total trading volume of at least 0.01 BTC in their past 30 day trading history will be eligible to participate in the vote. Additionally, only accounts that were registered before 2018/08/22 0:00 AM (UTC) will be eligible to participate in the vote.
Each registered user can vote for multiple candidates but will only be able to submit their full vote once. Users will need to pay 0.1 BNB per candidate in their vote (i.e. 0.2 BNB will be deducted if 2 candidates are selected).
New Lucky Draw
In addition to voting, each user will automatically get a chance in Binance’s “Lucky Draw”, where all the BNB tokens collected from fees will be pooled and split among 500 winners.
All BNB collected from voting fees during the vote will be put into a pool for a Lucky Draw to be completed at the end of the vote. In the spirit of the community vote, Binance will also contribute up to an additional 5,000 BNB to the Lucky Draw pool, based on the total number of participants in the vote (1,500 BNB, 3,000 BNB and 5,000 BNB for 10,000, 20,000 and 30,000 voters respectively).
All users that participate in the vote will be eligible for the lucky draw and the Binance team will draw a total of 500 winners, who will evenly split the final pool. The lucky draw will, as always, be live-streamed online. Binance will announce the URL (and broadcast date) for the live stream at a later date.
Upon completion of the voting process, Binance will list the coin on the exchange within a reasonable time frame. Depending on market response, the exchange will try to conduct this event monthly.
Past winners include:
- 1st Round – Stratis (STRAT)
- 2nd Round – Substratum (SUB)
- 3rd Round – Zcoin (XZC)
- 4th Round – ETHLend (LEND)
- 5th Round – RaiBlocks (XRB)
- 6th Round – Zilliqa (ZIL)
- 7th Round – Pundi X (NPXS)
- 8th Round – Polymath (POLY)
- 9th Round – TBA
You can head here to vote: https://www.binance.com/vote.html