Playbux has officially wrapped up the first round of its $600,000 free raffle on August 24, 2024. The raffle featured over 2000 prizes of up to $600,000, including Lotto Tickets, exclusive Playbux Ultra NFTs, and a grand jackpot of $300,000 in PBUX. The event drew considerable interest as participants staked $PBUX and USDT to grab free raffle tickets, leading to over 195,000 tickets in play, making the campaign a major success.
Highlights from Free Raffles Season One
Playbux’s Free Raffle Round 01, running from July 10 to August 24, 2024, offered participants a chance to engage in the campaign through staking and purchasing tickets. Players could join the fun by connecting their wallets and completing subsequent Free Raffle event steps on the Playbux website to stake $PBUX or USDT to obtain raffle tickets worth $1 USDT each. Early birds enjoyed a generous bonus of up to 360%, which decreased incrementally by 1% each day.
In order to proceed, participants were required to choose their preferred platform among TaskOn, Galxe, and QuestN, enabling them to take part in the campaign by completing various tasks.
At the end of season one, the big draw occurred at 7:00 AM UTC on August 24, 2024, giving one lucky winner the opportunity to walk away with the grand jackpot of $300,000 in $PBUX. The payment structure is designed such that instead of a single payout, the winner will receive $100,000 every month over six months to ensure ongoing excitement and engagement from the community.
In addition to the grand prize, the top 100 participants on the global leaderboard shared $30,000 in PBUX, while another $10,000 in $PBUX was divided among the top 100 participants on each CEX leaderboard.
New Rewards Unfold with Free Raffles Season 2
With the excitement of round 01 still fresh, round 02 kicked off on August 24.
With a total prize pool of $300,000 and a grand jackpot of $10,000 USDT, this round gives participants another opportunity to win big by staking $PBUX or USDT.
The process is the same as in the previous round – participants can purchase tickets at $1 USDT and complete quests to improve their chances of winning. The early participation bonus structure from season one is still in place.
The draw for this round is set for September 24 at 7:00 AM UTC, and it will unveil the winners of season two. This time around, the top 100 players on the global leaderboard will split a prize pool of $10,000 USDT, while the top 100 participants on the Gate leaderboard will share $2,000 USDT. The reward structure is designed to keep the competition lively by motivating participants to remain active and engaged.
The success of season one and Playbux’s proven track record of delivering value has translated into more excitement building around season two.
Boosting Token Value through PBUX’s Burning Initiative
One of the standout features of the first round was Playbux’s burning initiative. Through this, for every $1 staked, 1 PBUX token was burned, up to a limit of 10 million PBUX – making a notable impact on the token’s scarcity and long-term value.
By the end of the first round, 3,844,190 PBUX tokens worth $138,391 had been successfully burned, accounting for the elimination of 0.96% of the total PBUX supply.
The PBUX burning initiative will continue into round two, further diminishing the circulating supply and increasing the value of the remaining PBUX tokens.
Feuling Playbux’s Growth and Influence in the Web3 Space
Playbux has already established itself as the world’s largest XtoEarn platform on the BNB Chain. As a winner of the Binance Incubation program and backed by prominent industry leaders like Visa and iQIYI, Playbux’s influence in the Web3 space is undeniable.
With a community of more than 650K active users and almost 19 million on-chain transactions, Playbux has already built a strong foundation. The ongoing raffles are more than just a fun addition, they play a crucial role in adding to the platform’s appeal by further boosting user engagement and drawing in new participants.
As Playbux continues to innovate and grow by introducing new features and opportunities to attract more users, its token holders’ value is likely to increase even further.