Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books. However, many in the crypto community question Binance’s approach, and aren’t fully convinced that they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings. The company’s initial audit…
Bithumb Global is one of the leading cryptocurrency exchanges globally, a global exchange registered in Hong Kong in May of 2019. In the last year of its existence, the exchange has grown immensely by providing a range of services to its users. These services include a user substation, a wallet, front- end support, and safety control.
Now, the global exchange has ramped things up and added a new service to its users. BG Learning will make it easier for users on the exchange to learn about premium projects on the platform. In turn, they get to earn the project’s tokens while at it. So, what is BG Learning all about? We uncover all the details of this new extensive feature and how it benefits users in this article.
What is BG Learning?
From the official website, BG learning is an interactive platform for Bithumb Global users. The development team at Bithumb Global came up with the platform to reciprocate the support from their users. Bithumb Global will use this learning section to promote their premium projects. Users will get all the details they need on the platform and get rewarded for it.
The platform will hold interactive question and answer events. These events will help blockchain projects acquire attention faster in the blockchain scene. In the process, users on Bithumb Global will better understand how the projects work, which is crucial in avoiding investment mishaps that could lead to significant losses.
How Does BG Learning Work?
Whenever Bithumb Global wants to hold an event, it will announce the same on the exchange. The exchange will also announce the targeted votes and voting duration for each event. The exchange will use the asset holdings and the transaction amount of its users to calculate the total number of votes. For both asset holdings and transaction amounts, the exchange will calculate the number of votes based on the balance in a user’s account 14 days before the voting event.
When using the asset holdings, users will get votes equivalent to the net asset holdings. Users who have BTC, ETH, and USDT token holdings get one vote for every 200 USDT worth of tokens. Other token holdings besides ETH, BTC, and USDT will grant a user 0.5 votes for every 200 USDT worth of tokens. The number of votes allocated on the transaction amount is equal to the total transaction amount 14 days before the voting event. Users will receive one vote for every transaction worth 100 USDT. Therefore, the total number of votes per user will be the equivalent of the total votes from the asset holdings and the transaction amount.
During the voting event, users will have to answer questions concerning the project listing. The exchange will consider a user’s votes valid if they answer the questions correctly. Bithumb Global will then tally the total number of votes depending on the valid votes from all users. Users who give incorrect answers will have their votes nullified and will not be eligible for any rewards.
Once the voting event is complete, Bithumb Global will airdrop a specific amount of the project’s tokens. Users who took part in the voting event will then receive their rewards from the airdropped tokens. The proportion of a users’ votes to the total valid votes will determine the number of rewards.
Upcoming Event: PROXI DeFi
The second season of BG Learning will feature the PROXI DeFi project listing. PROXI DeFi provides cross-chain derivative issuance and credit lending. The project has its symbol as CREDIT and aims to provide a way for people to invest in derivative assets and earn interests through the decentralized protocol.
The upcoming PROXI DeFi event on BG Learning targets 10,000 votes. The platform set aside a 12-hour voting duration on 24th August 2020 from 10.00 to 21.59 (UTC+8). Once the voting duration is over and the project hits its target, the platform will pass the event and list the CREDIT tokens. BG Learning will airdrop 25,000 CREDIT tokens, which will be distributed among the users with valid votes. Bithumb Global has set the distribution event for 25th August.
Get Paid To Learn About Blockchain Projects
The blockchain scene has recorded an influx of new projects as more people worldwide realize its usability. New crypto enthusiasts will often fall prey to projects that are not well defined, causing them to incur significant investment losses. Obtaining critical information about upcoming projects, therefore, becomes a crucial step for crypto investors.
BG Learning is looking to simplify the process of learning about new projects and how they work. The interactive platform allows users to get all the information they need to help them make a decision. The best part is that you get the project’s tokens as rewards for learning about it! If you ever wondered why you weren’t getting paid to learn, BG Learning provides the best opportunity for you.