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#Cheers2BinanceP2P: Binance P2P Turns 2!

2021-10-11

Binance P2P Anniversary Top 100 Merchants Rewards 2021

Fellow Binancians,

In the past two years, over 8,000 merchants have joined the Binance P2P platform and contributed to nearly 90% of its liquidity. Binance P2P has provided crypto services for users from over 70 countries and completed approximately 43M trades. 

To celebrate Binance P2P’s 2nd anniversary,  we’re giving away exclusive rewards for our global merchants who achieve high growth in P2P volume and trades. 

Activity Period: Oct 11, 2021 9 am (UTC+0) - Oct 22, 2021 8.59 am (UTC+0)

Reward Rules:

Binance will assign a star rating based on the trading performance of each P2P merchant during the activity period. There are a total of three star ratings: Galaxy Merchant, Moon Merchant, and Mars Merchant. The top 100 merchants will receive the corresponding rewards if your star rating improves after the event ends.

Star rating 

Rewards

Galaxy Merchants (30)

1. iPhone 12 Pro for the no. 1 user 

2. 3 BNB ($40 each from the pool)

3. VIP+2 upgrade for 30 days

4. Up to $500 P2P fees rebate for 30 days

5. Galaxy Rating badge (visible next to the merchant’s nickname on the ad page), which will be displayed for 30 days

Moon Merchants (30)

1. 2 BNB ($25 each from the pool)

2. VIP+1 upgrade for 30 days

3. Up to $250 P2P fees rebate for 30 days 

4. Moon Rating badge (visible next to the merchant’s nickname on the ad page), which will be displayed for 30 days

Mars Merchants (40)

1. 1 BNB (0.04 BNB ~ $20 each from the pool)

2. VIP+1 upgrade for 30 days

3. Mars Rating badge (visible next to the merchant’s nickname on the ad page), which will be displayed for 30 days

How are merchant star ratings calculated?

  • The merchants will be scored based on these 6 metrics. The points for each metric are combined into a total score, with each metric carrying a different percent weight. 

  • Merchant’s overall score = 50% (maker volume) + 10% (number of unique counterparties traded with) + 10% (Order completion rate) + 10% (avg. pay and release time) + 10% (appeal rate) × 10% (successful order count)

  • Merchants will be ranked from highest scores to lowest scores. The top 30% will receive the highest level rank—"Galaxy merchants"; the top 30%-60% will receive the second-highest rank"Moon merchants";the remaining 40% are ranked as “Mars merchants”.

Metrics

Description

Maker Trading Volume >=5 BTC

Merchant's trading volume in a certain fiat currency / total trading volume of that particular fiat currency. If the merchant trades multiple currencies, we’ll add up the proportion for each one. 

No. unique counterparties that a merchant has traded with >= 200

No. unique counterparties this merchant has traded with in a certain fiat zone / total no. trades in that fiat currency. If the merchant trades multiple currencies, we’ll add up the proportion for each one.

Order completion rate >=97%

Completion rate= 1-buyer cancel/(no. Of buy orders+completed orders as seller)

Avg. pay and release time <=60 minutes

("Average pay time for buy orders" plus "average release time for sell orders") / number of total orders

Appeal rate = 0%

Number of order appeals / total amount of matched orders

Number of completed successful orders >=500

Merchant’s total no. of successful order for each fiat / fiat market’s total no. of successful orders

Terms and conditions:

  • This event is open only to verified merchants who joined before Oct 11 9 am UTC+0 

  • Winners will be announced on Announcements and social media.

  • BNB rewards will be distributed to the winning merchants within 14 working days after the event concludes. 

  • VIP upgrades will be delivered as vouchers to the winning merchants within 14 working days after the event concludes. 

  • P2P fees rebate will be calculated after 30 days from the day of 0 fees implementation. The cashback will be credited to your account in the form of a cash voucher.

  • Binance will review and cancel any qualification during the event that is suspected of fraudulent behavior such as bulk-registration of accounts, self-buying and self-selling, wash trading, etc., 

  • Binance reserves the rights of final interpretation for the event

We look forward to celebrating this milestone with you.