Huobi has announced a four-part incentivization contest to promote the use and trading of Dash.
The Chinese cryptocurrency exchange is currently ranked in the top ten by volume with $937 million over the last 24 hours. In November Huobi announced the addition of Dash trading to the platform. Earlier this month, the exchange submitted a proposal to the Dash network to fund the giveaway of 1,000 Dash to its users in order to incentivize trading.
A four-stage contest to reward Dash holders and traders
In an announcement this week, Huobi laid out a four-part incentivization plan for Dash traders. The first stage will include a Dash giveaway to Dash/USDT traders until the 25th. The second part is a quiz, where the top 100 trading accounts will be eligible to answer a ten-question Dash quiz, with the top scorers earning a 0.01 Dash prize. Third, the top 20 Dash trading accounts will receive Dash miners as a prize (top account will receive 10, remaining top 10 will receive five, remaining top 20 will receive one).
Finally, users who deposit Dash and hold it for over a month will receive 8% annual interest for holding their funds on the exchange. Users will need to reapply for the interest monthly during a three-day time window.
Dash’s 2017 breakout
This year Dash has had an incredible run. The price has risen over a hundredfold over the last year, becoming the second cryptocurrency to rise to a $1,000 valuation from zero. It recently reached an all-time high of $1,250, a milestone that Bitcoin itself only reached in late April of this year, eight months prior. This valuation now makes masternode owners millionaires, with monthly returns valued presently at $7,500. The monthly treasury budget is valued just shy of $8 million.
In addition to price gains, Dash’s ecosystem has also expanded. At present, DiscoverDash lists 556 Dash-accepting businesses around the world. Integrations such as Uphold allow Dash to be easily purchased almost anywhere, as well as received as salary, while Bitcart allows users to spend Dash on Amazon.com at a 15% discount.