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Phemex x League of Traders New Year's Competition

Author: Nicolas Tang

Phemex is proud to announce its first 2021 trading competition in partnership with League of Traders. Compete for a maximum prize pool of 5 BTC this January 2021.

Dates

Registration Opens: 11th January

Competition Begins: 15th January 12 PM (UTC+8)

Competition Closes: 4th February 12 PM (UTC+8)

(Registration is possible during the competition period)

Prize Pool

The prize pool and winnings for each position will be dependent on the total number of participants in the competition. The higher the number of participants, the higher the total prize pool, and the more prizes will be available. Please see the table below for the full breakdown.

Number of Participants Prize Pool (BTC) No. 1 No. 2 No. 3 No. 4 No. 5 No. 6-10(each person)
25-49 0.15 0.075 0.045 0.03
50-74 0.3 0.12 0.09 0.06 0.015 0.015
75-99 0.45 0.18 0.135 0.09 0.0225 0.0225
100-149 0.6 0.24 0.18 0.12 0.03 0.03
150-199 0.9 0.36 0.27 0.18 0.045 0.045
200-249 1.2 0.42 0.3 0.18 0.06 0.06 0.036
250-299 1.5 0.525 0.375 0.225 0.075 0.075 0.045
300-399 1.8 0.63 0.45 0.27 0.09 0.09 0.054
400-599 2.4 0.84 0.6 0.36 0.12 0.12 0.072
600-799 3.6 1.26 0.9 0.54 0.18 0.18 0.108
800+ 5.04 1.764 1.26 0.756 0.252 0.252 0.1512

Additional Bonuses:

Early-bird registration bonus: Those who register between the 11th of January and the 15th of January 12 PM (UTC+8) will receive an early-bird registration bonus of $10.

 

Trading volume bonus: For each participant that reaches a total transaction volume, as shown below, will receive the corresponding trading bonus:

  • Transaction volume reaches $500,000, $30 bonus will be awarded
  • Transaction volume reaches $1,000,000, $100 bonus will be awarded
  • Transaction volume reaches $5,000,000, $600 bonus will be awarded

Participation Requirements:

Minimum Balance in Phemex account: 0.03BTC (or equivalent value in any crypto)

How to join:

  1. Download and Sign up on League of Traders.
  2. Create an API key on Phemex and connect your account to League of Traders. (Guide)
  3. You will be automatically participating if you have met the participation requirements (see above).
  4. You are confirmed if you in the League of Traders app can find yourself in the Rank leaderboard on the League Tab (Phemex New Year League).

Rules

  1. A minimum of 0.03 BTC or equivalent value in any crypto in your Phemex wallet is required to register for the competition.
  2. You will need to still have 0.03 BTC or equivalent value in any crypto in your Phemex wallet at the start of the competition on the 15th of January 12 PM (UTC+8).
  3. Participants may register from the 11th of January and throughout the competition until it ends on the 4th of February 12 PM (UTC+8)
  4. All trades in any coins or trading pairs, both spot, and contract, made on Phemex during the competition time will count towards the competition trading volume.
  5. Winner selection is based on the highest individual PnL % (Profit %) by the end of the competition period.
    • PnL% =  ((Current Balance + Withdraw) – (Starting balance + Deposit)) * 100 / (Starting balance + Deposit)
    • Any bonus received during the competition will be considered as a deposit.
    • You may withdraw and deposit whenever you want, but your profit rate will be affected.
    • All calculations will be made according to League of Trader’s PnL
  6. Winners and prizes will be awarded within 7 days after the closing of the competition on the 4th of February 12 PM (UTC+8). All the prizes will be distributed to the participant’s Phemex account.

Disclaimer

  • Users should trade cryptocurrency at their own risk.
  • League of Traders does not provide investment advice.
  • League of Traders does not have custody over users’ assets nor executing trades for the users.
  • League of Traders is not providing the trading or selling of cryptocurrency products on Phemex.
  • League of Traders reserves the right to modify the terms of this competition without notifying users in advance.
  • The prizes and bonuses will be distributed to the eligible participants within 7 days after the conclusion of the competition.
  • Each participant is only eligible to receive 1 prize. Prizes cannot be duplicated.
  • League of Traders reserves the right of final interpretation of this event. Any judgments made by League of Traders are final, do not need any justification, and cannot be disputed.
  • Any behavior that League of Traders suspects to be similar to wash trading or other potentially manipulative activities can be grounds for disqualification from the competition and any prizes.
  • Phemex is not responsible for any calculations of PNL or the winners.
  • Phemex holds no responsibility over the rules or terms of this competition.

For any inquiries contact us at support@phemex.zendesk.com .
Follow our official Twitter account to stay updated on the latest news.
Join our community on Telegram to interact with us and other Phemex traders.
Phemex | Break Through, Break Free

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