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Phemex Olympics: Compete to win $100,000

Author: Jeffrey Craig

The Tokyo Olympics are here! We at Phemex are excited to finally have a chance to see some international sports competition, it has been too long! The Olympics and Tokyo in particular, is a place where all people and all flavors, whether they like crypto or not, are welcome. We at Phemex share this same perspective, that is why we are commencing the Phemex Olympics: United Through Trading, a dual-sport crypto trading competition.

Competition Details

The Phemex Olympics is a trading competition for two sports, weightlifting and sprinting! The weightlifting competition will reward ranking individuals according to their trading volume, aka the “heavy lifters.” Therefore, those individuals with the highest trading volume will receive the biggest rewards. The sprinting competition will be for traders who hit 500% ROI the quickest, aka “the Usain Bolts.” Get ready, sign up, and show you belong!

Reward Structure

Weightlifting

Prize/Participants <250 250-500 >500
Rank 1 10,000 USD 12,500 USD 20,000 USD
Rank 2 5,000 USD 7,500 USD 10,000 USD
Rank 3 3,000 USD 4,000 USD 5,000 USD
Rank 4-6 1,000 USD 2,000 USD 3,000 USD
Rank 7-10 500 USD 1,000 USD 1,000 USD
Total 23,000 USD 34,000 USD 48,000 USD

In addition, the top 10 players will receive different mystery box gifts based on their ranking!

Sprinting

Prize/Participants <1000 1000 1500 2000 2500 >3000
Rank 1 2,000 USD 4,000 USD 6,000 USD 8,000 USD 10,000 USD 20,000 USD
Rank 2 1,500 USD 2,000 USD 3,000 USD 4,000 USD 5,000 USD 8,000 USD
Rank 3 1,000 USD 1,500 USD 2,000 USD 2,500 USD 3,000 USD 6,000 USD
Rank 4-10 500 USD 600 USD 700 USD 800 USD 900 USD 1,500 USD
Total 8,000 USD 11,700 USD 15,900 USD 20,100 USD 24,300 USD 44,500 USD

Rules & Requirements

Weightlifting

  • Winners will be ranked based on the highest trading volume within the campaign period.
  • If two users end up with the same trading volume at the same time, the one who joined the competition first will have a higher ranking.
  • Only Contract Trading volume will be counted
  • All Contract Pairs are allowed
  • Each participant’s trading volume will be displayed on the competition landing page (updated every 10 minutes).
  • No API users allowed

Sprinting

  • A valid participant must have a net value of at least 0.003 BTC in their BTC Trading Account at the time of registration.
  • The goal is to achieve 500% ROI (both realized and unrealized PNL will be counted) as fast as possible. The first 10 users to achieve this will win in chronological order.
  • If no users reach 500% ROI, the top 10 winners will be ranked based on their highest ROI instead.
  • If two users reach 500% ROI at the same time, the user who joined the competition earlier will have a higher ranking.
  • The sprinting competition is only for the BTCUSD Contract pair, no other trading pairs will be counted.
  • Each participant’s ROI will be displayed on the competition landing page (updated every 10 minutes).
  • API users ARE allowed for this competition.

Dates

July 31, 8 AM UTC-August 15, 8 AM UTC: Competition

After August 22: Prize distribution

Terms & Conditions

  1. Calculation formula for Individual Return On Investment (ROI): Individual PNL / (BTC Trading Account initial net balance + incoming transfers during the event + commission income during the event + bonuses received during the event)
  2. A user is allowed to participate in both event categories at the same time
  3. Prizes will be distributed within 15 days after the competition ends. Prizes will be distributed in BTC.
  4. The following actions will result in immediate disqualification:
    1. Batch account registration
    2. Profits from market manipulation
    3. Using API for the Weightlifting competition
  5. Only Main-accounts are allowed in this competition, Sub-accounts will NOT be counted
  6. The final amount of BTC issued will be subject to the OTC settlement exchange rate on that day. Phemex retains the final right to adjust converted prices.
  7. Phemex reserves the right to make any final and binding amendments to these rules.

For any inquiries contact us at support@phemex.zendesk.com .
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