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LIT Perpetual Contract Launch, 10x Trading Party Rewards Incoming
【ChainWen】A leading exchange has just launched the LIT/USDT perpetual contract, supporting up to 20x leverage. This is a great option for participants in contract trading.
Even more interestingly, the exchange has simultaneously launched the LIT Contract Trading Party event. Starting from 9:00 PM on December 30th until 9:00 PM on January 6th (Beijing time), a total reward pool of $10,000 will be offered.
The participation threshold is quite low. Users only need to complete registration and then participate in LIT/USDT contract trading. As long as the total effective trading volume reaches 10,000 USDT or more, they can share the reward pool based on their trading volume ranking. In other words, the larger the trading volume, the bigger the share of the rewards.
For contract trading beginners, there are additional benefits. New users who complete LIT/USDT contract trading will receive exclusive new user rewards. This activity is designed to attract more people to experience contract trading features. If you’re interested in leverage trading, participating during this period still gives you a chance.
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20x leverage, just hearing this number sounds like a dying joke. The newbie benefit is even more outrageous, it’s a timed bomb used to blow up new accounts.
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Another ranking based on cumulative trading volume? I’ve seen this trick too many times. The more you trade, the faster you lose, and in the end, all rewards are eaten up by price shocks.
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From December 30 to January 6, a one-week "party"? I bet five gas fees that its liquidity trap will become apparent by the third day.
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The newbie rewards are quite interesting, like handing you a knife wrapped in candy. Wake up, everyone, the arbitrage zone is always the hunter’s hunting ground.
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Extra benefits = extra losses. Who still believes in this these days? No matter how fancy the mechanism design, it can’t change the fact: your time cost is always more valuable than that $10,000.
Wait, a $10,000 reward pool and you're going to play with 20x leverage? Seems like you won't make much profit.
It's both a new user benefit and a ranking prize pool. Honestly, it's just another way to cut into new investors. I feel like I've seen this trick before.
The party event is back again. Every time, someone goes all-in and gets liquidated, while the exchange makes a fortune. Who actually ends up with the money?
What do you all think of the LIT token? Don't just look at the rewards, check out the fundamentals first.
This event timing is really tricky. Who would have time to play contracts during the New Year?