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You can participate in KiloEx’s exclusive airdrop from your Binance Web3 Wallet directly. There are two missions in this campaign:
- Mission 1: Stake any amount of token into the KiloEx Vault on the opBNB Chain.
- Mission 2: Make leveraged trade(s) worth at least $100 on the opBNB chain via KiloEx.
How to participate in the airdrop campaign from my Binance Web3 Wallet?
Before you proceed with the missions, make sure you have a backed-up Binance Web3 Wallet.
1. Create a Binance Web3 Wallet
You may skip these steps if you already have a backed-up Binance Web3 Wallet. Find out more about Binance Web3 Wallet here.
1. Download the Binance app and ensure it’s in the latest version. Register for a Binance account and complete identity verification.
2. Tap [Wallets] and go to the [Web3] tab.
3. Follow the instructions to create your Binance Web3 Wallet. Please note that you must back up your Web3 Wallet before moving on to the next step.
2. Add your funds to Binance Web3 Wallet on the opBNB Chain
You’ll need to deposit USDT to your Binance Web3 Wallet on the opBNB Chain for staking and trading. For example, you may deposit at least $1 worth of USDT for Mission 1, and $20-50 worth of USDT for Mission 2. Please also deposit some BNB (worth $1) to cover the gas fees.
1. Log in to your Binance app and go to [Wallets] - [Web3]. Tap [Transfer] to transfer your funds from your Binance Spot/Funding Wallet to your Binance MPC Web3 Wallet.
2. Choose [opBNB] under [Network] and choose [USDT]. Please also transfer some BNB to the opBNB network ($1 worth of BNB should be sufficient) to cover the gas fees.
3. Alternatively, swap or bridge your USDT to the opBNB network using the [Swap] function. Please transfer some BNB to your Web3 Wallet first to cover the gas fees.
For more details, please refer to How to Send and Receive Tokens on Binance Web3 Wallet?.
3. Join the KiloEx Campaign
1. On your Web3 Wallet homepage, go to [Discover] - [Airdrops]. Find and tap on the KiloEx Airdrop campaign banner.
2. You’ll be redirected to the KiloEx campaign page. Tap [Join Campaign].
Please make sure you have sufficient funds on your Binance Web3 Wallet address on the opBNB Chain, and some BNB to cover the gas fees.
Mission 1: Stake your funds in KiloEx Vault
1. Tap [Stake now] on the KiloEX campaign page.
2. You’ll be redirected to the [Earn] section of the KiloEx dApp. Scroll down and tap [Deposit].
3. Enter the deposit amount, such as 20 USDT. Tap [Submit]. Make sure you have a sufficient balance of BNB on the opBNB Chain to cover the gas fees.
4. Tap [Confirm] to approve the transaction.
5. You may check your deposit status afterwards. Please note that you won’t be able to withdraw your funds immediately.
To qualify for Mission 1’s reward, you have to wait for the next Epoch. Please note that each Epoch is 72 hours long.
6. Tap [Verify Task Status] once staking is complete.
Mission 2: Trade on KiloEx
Make leveraged trade(s) of at least $100 worth of any token via KiloEx.
1. Go to the KiloEx campaign page and tap [Trade now] under Mission 2.
2. You’ll be redirected to KiloEX’s trading page. Select a trading pair and place an order by tapping [Buy/Long] or [Sell/Short].
3. Make sure you have sufficient funds in your Binance Web3 Wallet on the opBNB Chain for trading, and a sufficient BNB balance to cover the gas fees.
Note: Due to limitations, please note that you can’t open orders on KiloEx. After placing an order, you need to go back to the Binance app to complete the trade.
4. Check and confirm the order details on the pop-up window. To complete Mission 2, you need to achieve a trading volume of at least $100 worth in any token.
Let’s take $20 as the initial margin and use 5x leverage on a Buy/Long position as an example. Set the leverage to 5x and enter the order amount. You can also add your take profit and stop loss orders here. Tap [Buy/Long] to create your order.
To minimize risks, you can change the leverage to 2x, which is the minimum leverage for opening orders on KiloEx. In this case, the initial margin needed would be $50 and a 2x leverage in order to be eligible for rewards in Mission 2.
5. Go back to your Binance Web3 Wallet and tap [Confirm] to place your order.
6. Please note that you are free to decide when to close your positions. You’ll be eligible for the airdrop once you open the position and verify the task status. If you’d like to close an order, tap [Close All Positions].
7. Tap [Confirm] to proceed.
8. Tap [Verify Task Status] to complete Mission 2 once you reach $100 in trading volume.
How to withdraw my staked funds from KiloEx?
After you wait for the next Epoch and verified task status, you can withdraw your funds from KiloEx.
Open your Binance Web3 Wallet, open [DApps] section.
Enter “KiloEx” in the search bar. Select KiloEx dApp and open it.
In the product menu, find [Earn] and open it.
Connect your Binance Web3 Wallet.
Tap [Withdraw] button.
Frequently Asked Questions
1. Can I use other wallets, for example Metamask, to participate in this campaign?
Only users with a backed-up MPC Binance Web3 Wallet are eligible for this campaign.
2. Do I need to complete both tasks to get airdrop rewards?
No, you can complete either or both tasks to be qualified for the respective rewards. If you complete one task only, you will only be qualified to receive the respective share of the prize pool for the task completed.
3. How much should I deposit and stake in the KiloEx Vault?
Technically, you can deposit and stake any amount in the KiloEx Vault. However, to receive a feasible return and to stand out your deposit among “dust” deposits, we recommend to deposit and stake at least $10-20 worth of tokens.
4. How can I unstake my deposit from KiloEx Vault?
In the KiloEx dApp, tap [Withdrawal Request] and check the time until your position is locked.
Withdrawal requests can be initiated every 3 days, which constitutes one Epoch period. Each Epoch lasts for 72 hours, with the first 48 hours of each Epoch supporting withdrawal requests, while the last 24 hours are for settlement. You can initiate a withdrawal request at any time, and requests made during the settlement period (the last 48-72 hours of each Epoch) will be postponed to the next Epoch.
CR = (Base + Buffer) / Base
Base: This is the fundamental value or amount of the asset that is being staked or loaned. It can be considered the primary collateral required to back the staking or loan.
Buffer: This is the additional collateral provided on top of the Base to safeguard against market volatility or unexpected losses. The Buffer acts as an extra layer of security.
Collateral Ratio (CR): This represents the total value of the collateral (Base + Buffer) in relation to the Base value alone. It is a measure of how much extra security (Buffer) is provided beyond the minimum required (Base).
Withdrawal waiting periods are determined based on the CR value as follows:
- When CR < 110%, withdrawals require 3 Epochs;
- When 110% ≤ CR < 120%, withdrawals require 2 Epochs;
- When CR ≥ 120%, withdrawals only require 1 Epoch.
5. Why can't I withdraw immediately and have to wait until the Epoch ends?
To ensure the safety of the vault and prevent stakeholders from operating ahead of the profit and loss changes, users cannot withdraw funds at will, and need to wait for the Epoch ends.
6. Can I create multiple orders to meet the $100 trading volume requirement?
The minimum trading order size on KiloEx is $20 worth of tokens. To successfully complete Mission 2, you need to reach a trading volume of $100, in a single or multiple trades.
7. Do I need to close my positions before the campaign ends?
This is not mandatory. You can close your positions or hold them until you find a suitable price to do so.
8. Can I trade multiple trading pairs to collect more rewards?
Unfortunately no. Each eligible user who completed the task will only qualify for one equal share of the prize pool for each mission.
9. When will the $KILO token be distributed?
KILO token will be distributed after the token generation event (TGE), please follow the KiloEx official accounts for more information.
If you have any questions, feel free to ask in the KiloEx official Discord channel: https://discord.gg/kiloex
To learn more about Binance Web3 Wallet campaigns, visit the Web3 Wallet Guide FAQs page.