Enter the Phemex Trader’s Arena to Compete for a 100 BTC Prize
Compete in a team of up to 40 members for a shot at over $1 million in prizes.
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The Singapore-based cryptocurrency and derivatives exchange, Phemex, has just announced the Phemex Trader’s Arena. The trading competition offers participants up to 100 Bitcoin in prizes.
Enter the Phemex Trading Arena
To qualify, traders must meet the following criteria:
- Be a registered Phemex user.
- Have a BTC trading account with a net value of at least 0.02 BTC at the time of registration.
The BTC/USD contract trading event will consist of multiple teams of traders, each led by a captain. Though there is no maximum size, teams must have a minimum of ten traders.
Team rankings will then be determined by the average return on investment (ROI) of the team’s top 25% players (or the average ROI of the top 10 players if a team has less than 40 members).
Successful traders will not only win a share of their team’s award but can also be compensated through individual trading awards, calculated based on each trader’s profit and loss (PnL).
Currently, registration is open to Team Captains.
Traders with enough influence to attract a large team can apply for a team captain position by completing this form. Standard participants will be able to register on Phemex and select to participate under any team or captain of their choice on Oct. 9, 2020.
The competition will officially begin on Oct. 24 and last until Nov. 7, with prizes distributed by Nov. 12.
Assuming a maximum prize pool of 100 BTC, the reward distribution will be as follows:
Team Awards (78% of final prize pool) – Calculated based on ROI
- 1st Place Team: 25% of final prize pool (25 BTC)
- 2nd Place Team: 15% of final prize pool (15 BTC)
- 3rd Place Team: 8% of final prize pool (8 BTC)
- 4th – 10th Teams: Will share 30% of final prize pool evenly (30 BTC)
- Captains of a winning team receive 40% of their team’s award
- Top 10 traders of a winning team share 30% of their team’s award
- All remaining team members share 30% of their team’s award
Individual Awards (22% of final prize pool) – Calculated based on PnL
- 1st Place Trader: 8% of final prize pool (8 BTC)
- 2nd Place Individual: 5% of final prize pool (5 BTC)
- 3rd Place Individual: 2% of final prize pool (2 BTC)
- 4th – 10th Place Traders: Will share 7% of final prize pool evenly (7 BTC)
In addition, Phemex will also be conducting daily $1,000 lucky-draw giveaways for all registered participants.
To read the full list of rules, calculation formulas, and prizes, please visit https://phemex.com/crypto-trading-competition.