Binance Wallet to Launch Squid Trading Competition for QUID Rewards

According to the announcement from Binance, Binance Wallet will launch the Squid Trading Competition on Binance Alpha, with eligible users able to trade Squid (QUID) in Binance Wallet (Keyless) or via Binance Alpha to compete for token rewards. The competition will run across two promotion periods: 2026-08-05 13:00 (UTC) to 2026-08-12 13:00 (UTC), and 2026-08-12 13:00 (UTC) to 2026-08-19 13:00 (UTC). Users eligible to trade Binance Alpha tokens may participate. Rankings will be based on total QUID purchase volume during each promotion period, and the top 2,500 users will share 925,000 QUID tokens equally, or 370 QUID per user. The announcement said the reward structure is intended to place greater emphasis on early trading and consistent participation during the promotion period.Early participation will be weighted through the Early Bird Boost Multiplier, which gives higher multipliers to earlier trades when calculating daily effective trading volume. The multiplier starts at 3.5x for the first trading day and then decreases across the promotion period to 3.0x, 2.5x, 2.0x, 1.8x, 1.3x, and 1.0x on the final trading day. Binance Wallet is also introducing the Rising Trader Boost Multiplier for users who, as of three days before the promotion begins, have won any rewards in fewer than 3 previous Binance Wallet’s Alpha trading competitions. Eligible Rising Traders will receive a 1.2x boost on their actual trading volume during the promotion period, subject to a cap. If both boosts apply, effective trading volume will be calculated using both the early trading multiplier and the remaining Rising Trader Boost Cap. Rewards will be distributed in QUID and made available to eligible users before 2026-09-02 13:00:00 (UTC), with claims required within 14 days after rewards become claimable.