Blockchain TechnologyOKX Launches Bitcoin Halving-Themed Trading Competitions on its Exchange and Web3 Wallet

OKX, a global leading Web3 technology company and crypto exchange, has opened entries for its Bitcoin halving-themed ‘The Ultimate Bitcoin Rush’ and ‘OKX Web3 Bitcoin Drop’ trading campaigns, featuring a prize pool worth over 10 BTC.

Registration for ‘The Ultimate Bitcoin Rush’ has begun, while registration for ‘OKX Web3 Bitcoin Drop’ begins on March 28, 2024.

‘The Ultimate Bitcoin Rush,’ set to run from April 8, 2024, to April 26, 2024, is a CeFi trading competition that invites both teams and individuals to register and compete for an opportunity to claim a share of a 10 BTC prize pool.

Eligible users must register and join a team on the trading competition landing page from now until April 7, 2024 at 23:59 (UTC+8). Rewards will be allocated to the top 20 teams based on team profit percentage. Additionally, the top 15 traders will receive rewards based on their individual profit amount.

New users who registered for an OKX account after March 18, 2024 at 00:00 (UTC+8) will also receive a 10% boost to their score on both the ‘Team’ and ‘Individual’ leaderboards, providing them with an exclusive edge in the competition. Participating contracts for this competition include all USDT perpetual futures trading pairs.

‘OKX Web3 Bitcoin Drop’ is a Web3-focused campaign aimed at increasing engagement in the Bitcoin network, giving one lucky participant the opportunity to win 1 BTC. To join the campaign, eligible users must register on the campaign’s landing page, hold ≥ 0.0005 BTC during the event, make at least one BTC transaction via OKX Wallet, conduct a BTC cross-chain swap on the OKX DEX aggregator, trade Ordinals or Atomicals assets on the OKX Marketplace and complete social media tasks, such as following OKX Web3 on X (previously known as Twitter).

OKX Chief Commercial Officer Lennix Lai said: “We’re excited to launch ‘The Ultimate Bitcoin Rush’ and the ‘OKX Web3 Bitcoin Drop’ campaigns. ‘The Ultimate Bitcoin Rush’ aims to encourage engagement from the trading community while providing new and existing users an opportunity to showcase their trading skills. Our ‘OKX Web3 Bitcoin Drop’ campaign furthers this engagement on the Bitcoin network by rewarding our Web3 users. As we approach the next Bitcoin halving, we believe this is the perfect time to interact with our community, and reward our top traders and Web3 users.”

Besides the ‘OKX Web3 Bitcoin Drop,’ OKX Web3 has also collaborated with Bitcoin ecosystem projects like BounceBit, Merlin Chain and BOB to launch Bitcoin halving-themed campaigns. This provides eligible users with the opportunity to take part in a series of Bitcoin-themed activities and earn rewards.

Bitcoin halvings, happening every 210,000 blocks, are a feature programmed by Bitcoin’s creator, Satoshi Nakamoto, that cuts the reward for mining Bitcoin transactions in half. Bitcoin halving events are believed to help regulate Bitcoin’s inflation and preserve its worth by mimicking the limited availability of precious metals. The next halving in April 2024 will decrease the reward from 6.25 to 3.125 BTC. This scarcity has contributed to Bitcoin’s price appreciation over time, making halving events significant as they introduce a deflationary aspect to Bitcoin.


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