Users can win upto $1000 in USDS, a USD pegged stable coin in the latest trading competition by Koinfox ending on May 3 at 5:30 AM IST.
Trading the USDS/USDT pair on Binance using Koinfox platform can be rewarding as top 10 traders by volume will each get 50 USDS. Not only that, but the top three profitable traders each get 250, 150 and 100 USDS respectively.
USDS is a USD pegged stable coin by Stably and currently trading on several exchanges.
The competition does have certain eligibility criteria such as joining the telegram channels of both Stably and Koinfox, following them on twitter and filling a google form. You can read more here.
Only the trading volume on USDS/USDT pair will be considered.
Trading Stable coin and Stable coin?
Not all stable coins are truly stable as they say. Even with the USDT/USDS pair, the price seem to fall and rise every now and then. This makes it great for scalping and profiting out of it.
Koinfox offers a tool called Loop, which makes it fairly easy for anyone to trade the pair through out the day and making profit out of it. Of course as with any trading instrument there is no guaranteed success.
The team at Koinfox actually put out an instructional video, essentially a hack to win the competition.
Are you participating in the trading competition? Let us know in the comments below.