Phemex, one of many quickest crypto trade and futures buying and selling platform has introduced a pretty contest for its group. Beginning March 24th, the fifteen-day lengthy Phemex Dealer’s Area contest with a beneficiant prize pool of $2 million permits merchants to type groups and compete towards one another.
Registrations for the Phemex Dealer’s Area Contest began on March 10th. The competition is targeted on BTC/USD buying and selling pair on the platform, and solely these fulfilling the participation necessities set forth by the platform will probably be eligible to participate in it.
Necessities and Floor Guidelines
The Phemex Dealer’s Area contest requires every participant to have a BTC Buying and selling Account with a web worth of no less than 0.005 BTC which incorporates present crypto steadiness in addition to unrealized PnL on the time of registration. As soon as the registration course of is accomplished, they should create or develop into a part of a staff. The minimal staff dimension for participation within the occasion is 10, and people who will not be a part of any staff or have a smaller staff dimension will probably be randomly assigned to totally different groups earlier than the occasion begins.
Every staff can have a Captain – one that kinds the staff. The staff captain will probably be eligible to obtain further advantages primarily based on their staff’s efficiency.
Guidelines governing the Phemex Dealer’s Area contest restricts collaborating people and groups from i) registering batch accounts; ii) indulging in market manipulation for revenue; and iii) conducting reverse transactions between staff members to yield increased ROI’s for choose few staff members.
Every dealer can use just one account to take part within the occasion. The platform doesn’t contemplate sub-accounts as particular person individuals. Additionally, using API buying and selling is restricted for all contest individuals.
Phemex Dealer’s Area Awards
The Phemex Dealer’s Area contest has a $2 million prize pool, of which 78% will probably be paid out as staff awards and the remaining 22% as particular person awards. Every class can have a winner and two runners-up, determined primarily based on ROI (for groups) and PnL (for people).
The breakdown of reward distribution is as follows:
|Award||Staff Award||Particular person Award|
|Prize Pool||78% of whole prize pool||22% of whole prize pool|
|1st Place||25% of the full prize pool||8% of whole prize pool|
|2nd Place||15% of whole prize pool||5% of whole prize pool|
|3rd Place||8% of whole prize pool||2% of whole prize pool|
|4th to 10th Locations||30% of whole prize pool, distributed evenly||7% of the full prize pool, distributed evenly|
Additional, the captains of every successful staff will obtain 40% of their respective staff’s award adopted by 30% distributed equally amongst high 10 staff members. The remaining 30% will probably be shared by remaining staff members in equal parts. Within the occasion, the staff has lower than 20 members every member, aside from the staff captain will obtain an equal share in 60% of the award.
Every staff captain will obtain $100 as staff formation prize together with as much as a 50% share of buying and selling commissions. Additionally, the primary 2000 merchants to register for the Phemex Dealer’s Area will get $10 bonus and restricted version Phemex merchandise.
Be part of the Phemex Dealer’s Area
Register for the Phemex Dealer’s Area contest at – https://phemex.com/crypto-trading-competition
Winners of the competition will probably be introduced on April 13th, 2021.