Press Release
Join The Phemex Trader’s Arena Competition – 100 BTC on the line!
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Phemex is looking for adventurous crypto warriors to join their new and exciting Trading Competition. And because everything is more fun with friends, the game challenges you to work in a team. This is your chance to use your leadership talent!
What do you need to know?
The registration period for Team Captain starts on September 24th. Anyone that believes they have what it takes to become a captain can apply by completing this form! After that, they have 15 days to find at least 10 other traders to join their team.
Regular Team Members can begin to register and choose their teams on October 9th. The official Trading Contest period begins on October 24th.
This tournament ends on November 7th, followed by the awards distribution on November 12th.
It is very important to know that the Total Prize Pool depends on how many users participate. This can range from 2 BTC (for 200-499 participants) to 100 BTC (for over 10,000 participants). So be sure to join and invite as many talented traders as you can!
What are the rewards?
Players can earn rewards based both on their team’s performance and their individual performance. The most outstanding ten teams and top ten individual traders will be rewarded. That means that it’s a serious business, so you need the best team to win!
The total final prize pool is divided into two parts, the focus being on teamwork:
● 78% of total prize pool is allocated to team awards;
● 22% of total prize pool is allocated to individual awards.
Teams ranking 4th to 10th place will have to share 30% of the TPP (Total Prize Pool) evenly. The first three teams, on the other hand, each receive a much larger share of the TTP.
● The third-place team receive 8% of TPP;
● The second-place team 15% of TPP;
● The first-place will get no less than 25% of TPP.
Being the leader is not an easy job, therefore captains are rewarded with 40% of their team’s award.
Of course, the top 10 key members are also rewarded with 30%. But success is a team effort, thus the remaining 30% of the prize is shared among all the other team members.
This is not all! Phemex knows that it’s not enough to have a team goal. You need some self-motivation sparkled between players. That’s why team members are also competing with each other for individual trading awards.
This means that even if your team did not perform well overall, your own accomplishments as an individual trader will still be recognized.
The strongest players, in addition to their team award, will receive:
● 7% of TPP shared evenly for the 4th to 10th place ranking;
● 2% of TPP for the third place;
● 5% of TPP for the second place;
● 8% of TPP for the first place.
What are the requirements?
To participate, your BTC Trading Account Net Value must be at least 0.02 BTC at the start of the contest.
Each team also needs to have at least 10 members. We don’t fight with an outnumbered army, right? If a team is too small, it will be disbanded. But don’t worry, the team members will be randomly assigned to the other qualified teams. It’s time for some new friends!
Trading is exclusively for BTC/USD perpetual contracts, with the Settlement Currency being BTC. The team award rankings will be calculated using an ROI formula while the individual award rankings will use a PNL formula.
To read the full list of rules, formulas, and prizes, please visit: https://phemex.com/crypto-trading-competition
What is Phemex?
Founded by professional Wall Street traders and investors like their CEO Jack Tao, Phemex is one of the newest crypto derivatives exchanges. Unlike many of their competitors, their primary focus is on their users. Phemex supports 12 spot trading pairs and 14 contract trading pairs. Furthermore, some of their pairs can be traded with up to x100 leverage.
Because addressing all of their customer’s needs is part of their core values, they provide multilingual customer support, as well as many other perks.
Phemex built a safe cryptocurrency platform with zero-fee spot trading. Their cold wallet storage needs 2-level human verification and offline signatures. This is how they have already gained incredible trust among crypto players in less than a year.
Are you ready for the challenge?
The competition starts soon, and this is your chance to earn some Bitcoin based on your trading skills. So gather your friends and lead a team to success!
