Palmswap Celebrates Its Testnet Launch With A 500,000 PALM Token Giveaway

Palmswap, a perpetual DEX based on the Binance Smart Chain (BSC) is offering a 500,000 PALM tokens giveaway for its trading competition.

As per the announcement, the giveaway will start on May 25 and run through to June 10, 2022. For the giveaway, participants need to connect their metamask wallet to the BSC testnet, claim their test tokens, and trade Palmswap’s native token, PALM. The giveaway is reportedly part of Palmswap’s celebration of its successful testnet launch and the last airdrop before the Mainnet launch.

The Palmswap team explains:

“To celebrate our successful testnet launch, as well as to show appreciation for the Palm community’s support of PalmSwap, we are now launching a campaign to giveaway 500,000 PALM tokens to the top 100 biggest demo money Profit gainers.”

The 500,000 PALM tokens will be given to 100 lucky users. The top winner will get 100,000 PALM tokens, 75,000 for the second winner, and 60,000 PALM tokens for the third winner. Lucky winners number 78 to 100 will get 500 tokens. All winners will be publically announced and participants will be able to claim their tokens as soon as the TGE has been performed.

Palmswap offers 100% on-chain perpetual, unique token use cases and an affiliate program. Palmswap was created to build an ecosystem of DeFi products. Palmswap hopes to become a safe, reliable, and most accessible Perpetual DEX on the BSC. The project seeks to create products that fill a gap in the market while solving problems in the market. Notably, in the last couple of weeks, Palmswap has implemented many new features into its exchange on the BSC testnet ahead of the awaited Mainnet launch. 

In addition to the airdrops and the ongoing giveaway, users can also receive additional tokens through the Retroactive trading program. This program encourages early traders to trade on the protocol by receiving incentives for their trading activities. Palmswap also employs Trading Cycles which will reward traders incentives in the long run. In total, the project intents to give 4% of the total token supply of 40 million PALM to early traders based on their trading volumes. Note, that traders will be required to trade on the Palmswap exchange in the first 30 days after launch on BSC Mainnet to claim these tokens.

Getting more PALM tokens will put traders in a strategic place to vote over the future of Palmswap. In addition to governance, holders will be able to use their PALM tokens for staking, farming, and much more.