Dear Traders, The League of Traders (LoT) competition held in April 2021 concluded with immense success.
Phemex received incredible support from our participants, so we’re partnering again with LoT for another competition! The prize pool will be as high as 4 BTC.
Dates
Registration Open: 25th August 12pm – 15th September 12pm (UTC+8)
Competition Period: 1st September 12pm – 22nd September 12pm (UTC+8)
Reward Distribution: within 7 days after the closing of the competition
Prize Pool
The final prize pool will depend on the total number of participants. The more participants, the higher the total prize pool and number of prizes available. Please refer to the table below for a full breakdown.
| Number of Participants | Total Prize Pool (BTC) | 1st | 2nd | 3rd | 4th | 5th | 6th-10th (each person) |
| 25-49 | 0.1 | 0.05 | 0.03 | 0.02 | |||
| 50-74 | 0.2 | 0.08 | 0.06 | 0.04 | 0.01 | 0.01 | |
| 75-99 | 0.3 | 0.12 | 0.09 | 0.06 | 0.015 | 0.015 | |
| 100-149 | 0.4 | 0.16 | 0.12 | 0.08 | 0.02 | 0.02 | |
| 150-199 | 0.6 | 0.24 | 0.18 | 0.12 | 0.03 | 0.03 | |
| 200-249 | 0.8 | 0.28 | 0.2 | 0.12 | 0.04 | 0.04 | 0.024 |
| 250-299 | 1 | 0.35 | 0.25 | 0.15 | 0.05 | 0.05 | 0.03 |
| 300-399 | 1.2 | 0.42 | 0.3 | 0.18 | 0.06 | 0.06 | 0.036 |
| 400-599 | 1.6 | 0.56 | 0.4 | 0.24 | 0.08 | 0.08 | 0.048 |
| 600-799 | 2.4 | 0.84 | 0.6 | 0.36 | 0.12 | 0.12 | 0.072 |
| 800-999 | 3.2 | 1.12 | 0.8 | 0.48 | 0.16 | 0.16 | 0.096 |
| 1000+ | 4 | 1.4 | 1 | 0.6 | 0.2 | 0.2 | 0.12 |
Additional Bonuses:
Early-bird registration bonus: Those who register between August 25 and September 1 will receive an early-bird registration bonus of $10.
Gleam Tasks: Visit our Gleam page and perform the tasks (Follow Phemex on Twitter & RT LoT Competition tweet) to receive a $5 bonus.
Volume Bonus (Only Taker)
◆If your transaction volume reaches $500,000, 50 USD(T) will be awarded
◆If your transaction volume reaches $3,000,000, 200 USD(T) will be awarded
◆If your transaction volume reaches $10,000,000, 800 USD(T) will be awarded
Participation Requirements:
Minimum Balance in Phemex account: 0.02BTC (or equivalent value in any crypto)
How to join:
- Download and Sign up on League of Traders.
- Create an API key on Phemex and connect your account to League of Traders. (Guide) API creation is only possible through Phemex mobile and web (not the app).
- After connecting and if you hold the required balance, your participation will be automatically confirmed within 5 min.
- To verify if your participation is successful, find yourself in the League of Traders app Phemex – “Phemex 3rd League” Leaderboard.
Rules
- A minimum of 0.02 BTC or equivalent value in any crypto in your Phemex wallet is required to register for the competition.
- If you successfully register to the competition but your balance drops below the minimum requirement before the competition starts on 1st of September 12PM (UTC+8), you will be unregistered until you reach the minimum requirement again.
- Winners need to have at least 0.02 BTC or its equivalent in their account balance by the end of the competition to be eligible for the prize.
- Participants may register from the 25th of August to the 15th September 12pm (UTC+8)
- All trades on Phemex during the competition period will count towards the competition trading volume.
- 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
- If two participants produce the same PnL(%), their final ranking will be determined by their total trading volume.
- You cannot delete the API key that is being used to calculate the profit during the competition. (Trying to do so may disqualify you from the competition.)
- Do not delete your API key until all the prizes and bonuses have been handed out. Otherwise you might not receive the prizes.
- If you change your nickname during the competition period, you may not be eligible for prize money and bonus payments.
- Prizes and bonuses will be awarded within 7 days after the closing of the competition on the 22nd September 12pm (UTC+8). All the prizes will be distributed to the participant’s Phemex account.
- Each participant is only eligible to receive 1 prize. Prizes cannot be duplicated.
- League of Traders reserves the right to ask for KYC to the winners to confirm that there are no duplicate winners.
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 or execute trades for 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.
- 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 PNL calculations or winner selection.
- Phemex holds no responsibility over the rules or terms of this competition.
- Phemex is not involved in the operation of this competition.
