Binance Relaunches Community Coin Vote - NKN vs VIDY

Fellow Binancians,

Due to popular demand, Binance is bringing back “Community Coin of the Month”, but now in a completely different format that is both fair and also rewarding for participating users.

The new Community Coin Vote will put two projects head to head against each other. The project that receives the most votes at the end of the voting period will be listed on Binance.com. Users will receive votes based on their average daily BNB balance held over a 9-day period leading up to the vote (detailed average BNB calculation here).

Additionally, users that vote for the winning project will also be rewarded with an airdrop of both BNB and the winning project’s tokens. 

New Community Coin Vote Round 1 -  NKN vs VIDY

For the first round of the new format Community Coin Vote, we have selected NKN (NKN) and Vidy (VIDY) as the two candidates for the vote. 

The vote will start at 2019/10/10 4:00 AM (UTC) for 24 hours and will close at 2019/10/11 4:00 AM (UTC).

The number of votes each user receives will be determined by their 9-day average (hourly snapshots) BNB holdings from: 2019/10/01 0:00 AM (UTC) to 2019/10/10 0:00 AM (UTC).

Participant Rewards

If NKN (NKN) wins the vote and is listed on Binance.com, all participants that voted for NKN will split a total reward pool of 7,000 BNB and 13,000,000 NKN, based on the number of votes from each participant.

If Vidy (VIDY) wins the vote and is listed on Binance.com, all participants that voted for VIDY will split a total reward pool of 7,000 BNB and 155,000,000 VIDY, based on the number of votes from each participant. 

Airdrop allocation per winning vote = (1 / Total number of votes received by the winner) X Total Airdrop Pool.

User Vote Calculation

Users will be able to receive up to a maximum of 10 votes based on their daily average BNB holdings (represented by X below) over the 9-day period leading up to the vote.

For example, 50 ≤  X < 100 means that your average BNB balance over the entire specified period is kept at 50 BNB or more, but does not exceed 100 BNB. 

Daily Average BNB balance (X)	No. of Votes
50 ≤  X < 100	1
100 ≤  X < 150	2
150 ≤  X < 200	3
200 ≤  X < 250	4
250 ≤  X < 300	5
300 ≤  X < 350	6
350 ≤  X < 400	7
400 ≤  X < 450	8
450 ≤  X < 500	9
>=500	10

 

Average BNB Holdings Calculation

An example of the average BNB holdings calculation for each user is below. 

Day	Average BNB Holdings on each Day
2019/10/01	100 BNB
2019/10/02	100 BNB
2019/10/03	100 BNB
2019/10/04	100 BNB
2019/10/05	120 BNB
2019/10/06	120 BNB
2019/10/07	150 BNB
2019/10/08	150 BNB
2019/10/09	150 BNB
9 Day Average BNB Holdings	(100 + ... + 120 + … + 150) / 9 = 121 BNB
Total Eligible Votes	2 Votes

 

For a more detailed overview of the Community Vote reboot, read our blog post here.

Terms & conditions:

• We will endeavor to list the winning project’s token within a reasonable time frame after the vote, pending wallet and tech integration for the coin. 
• Users will only be able to choose one project to contribute all their votes to. You cannot vote for both projects.
• Rewards will be issued within 2 weeks after the vote ends.
• Binance reserves all rights to change the rules of this event without notification, including the revoking the results suspected of vote manipulation.

Thanks for your support!

Binance Team

2019/09/30

 

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