Binance is giving out free the meme-inspired cryptocurrency SHIB to new users on its website as part of a new campaign. The campaign is designed to encourage users to start trading in SHIB. According to a statement released by Binance, the offer will run through March 21 and will entail a gift of $80,000 in SHIB to new users who join using a link supplied by the exchange.
On a first-come, first-served basis, Binance will provide between 100,000 SHIB and 308,000 SHIB to users who follow the campaign. Along with the SHIB offer, it is also conducting another promotion for users who trade the equivalent of 1,000 USDT on Shiba Inu spot trading pairs. Participants in the latter offer will get $20,000 in meme-inspired cryptocurrency, Binance added.
The exchange’s release notes that only users who join using its link and complete know-your-customer (KYC) checks are eligible to win free SHIB, and that eligible trading pairings for the second offer involve Shiba Inu’s SHIB/USDT, SHIB/BUSD, and SHIB/DOGE trading pairs. To withdraw received tokens, customers must attain a total trading volume of 50 USDT, which includes both buys and sells. Binance also added that it maintains the right to invalidate trades believed to be wash trades or unlawfully mass registered accounts, as well as trades exhibiting self-dealing or market manipulation characteristics.
Binance’s promotion comes shortly after Wirex, a prominent digital payments network with over 4.5 million users who can spend dozens of currencies at over 80 million places globally, gained support for SHIB. SHIB has also recently partnered with Italian high-end designer John Richmond in a bid to develop a non-fungible token (NFT) based fashion line later this year.
The company behind the meme-inspired cryptocurrency has obtained advertisements with Milan’s municipal council through its relationship with John Richmond, allowing it to post logos on the city’s 1825″ number tram, exposing them to Milan’s people. The collaboration comes after the cryptocurrency’s developers announced the imminent launch of a token burning platform to assist the cryptocurrency’s community in burning tokens in an effort to lower its circulating supply.