Binance Launches Velvet Trading Competition with Token Rewards

According to the announcement from Binance, the platform is set to introduce the Velvet Trading Competition on Binance Alpha, offering exclusive token rewards to participants. The competition will be divided into two promotion periods: the first from 2026-03-13 13:00 (UTC) to 2026-03-20 13:00 (UTC), and the second from 2026-03-20 13:00 (UTC) to 2026-03-27 13:00 (UTC). Participants will be ranked based on their total purchase volume of Velvet (VELVET) tokens during each period. The top 3,370 users by purchase volume will share a total of 1,314,300 VELVET tokens equally, with each eligible user receiving 390 VELVET tokens. Eligibility and Participation: To qualify, trades must be executed via Binance Wallet (Keyless) or Binance Alpha, excluding third-party dApp transactions. Only cumulative purchases count, and selling is excluded from the competition. There is no cap on trading volume for participants, and token bridging transactions are not eligible. Effective from 2025-06-17 00:00 (UTC), trading volume from Alpha-to-Alpha token pairs will not count towards Alpha Points or impact competition rankings. Rewards will be claimable in VELVET tokens before 2026-04-10 13:00:00 (UTC), and eligible users must claim within 14 days to avoid forfeiture. Terms and Conditions: Participants must maintain an active Binance Account to be eligible. Binance reserves the right to disqualify users who breach terms or interfere with the program. The platform may amend or cancel the activity at its discretion. Users are advised to review the Terms of Use and Risk Warning, as Binance Alpha assets are subject to increased volatility and risks. Binance will not be liable for any losses incurred from investments in Alpha Assets.