1. Event Period Event Period: 10:00 UTC on November 19, 2025 — 23:59 UTC on December 19, 2025 2. Eligibility - Users must complete event registration to be eligible for rewards. - Sub-accounts, market makers, brokers, and institutional accounts are not eligible to participate. - Copy trading, trading bot volume, and on-chain derivatives are counted while API trading is not counted. Main account's trading volume includes the trading volume of all its sub-accounts. 3. Trading Leaderboard Challenge Rules - Dynamic Unlocking Mechanism: This trading leaderboard challenge uses a dynamic prize pool mechanism. The prize pool amount will be gradually unlocked based on the contract trading volume of participating users. As contract trading volume increases, the total prize pool will also rise, with the top 100 ranked users being able to share the prize pool. -Reward Allocation: The total prize pool will be allocated proportionally to one's ranking. Independent Rankings: This event features two independent rankings: "Trading Volume Ranking (VOL)" and "Return on Investment (ROI) Ranking." The reward allocation ratio for the two is as follows: Trading Volume Ranking account for 70% of the total prize pool amount, while Return on Investment Ranking account for 30% of the total prize pool amount. Users can participate in both rankings simultaneously and receive corresponding rewards for each. - Only users who rank in the top 100 within each ranking period are eligible to share the prize pool. Users who do not meet the trading volume threshold can only participate in the final ranking and will not receive rewards. - ROI Ranking: Trading volume requirement >= 5,000 USDT. Users with negative ROI can be ranked but are not eligible to receive rewards. - Trading Volume Ranking: Trading volume requirement >= 5,000 USDT. Users whose trading volume does not meet the requirement can be ranked but are not eligible to receive rewards. 4. Trading Volume Calculation - Contract Trading Volume (VOL): For users who registered before the event began, VOL is calculated from the event start time. For users who registered after the event began, VOL is calculated from the user's registration time. It comprises of the total trading volume (in USDT) of all contract trading pairs. - Return on Investment (ROI) Calculation Formula: ROI = PnL ÷ (Initial Net Asset Value + Total Deposit in Contract Account) × 100% - Initial Net Asset Value: The net asset value of contract accounts held for more than five minutes before the start of the competition is the initial net asset value. -When the initial net asset value of the account is less than 20 USDT, ROI will be calculated based on 20 USDT. - PnL Calculation Formula: PnL = Realized Profit/Loss + Funding Fee Income - Transaction Fees + Unrealized Profit/Loss at event end - Unrealized Profit/Loss at event start - Data Update Frequency: Leaderboard data is updated every 30 minutes. The actual results are subject to the system's calculations at the end of the event. The final ranking will be updated on December 20, 2025. 5. Terms and Conditions - After registering, users can open corresponding Mystery Boxes and draw rewards by completing tasks during the event period. - There are 4 rounds of Mystery Box challenges during the event. A maximum of 4 Mystery Boxes can be unlocked per round, and users can obtain a maximum of 16 Mystery Boxes by completing all tasks. - Mystery Box rewards and tasks will be reset after each challenge period ends. Users will need to restart the challenge to obtain Mystery Boxes in the next round. - Please use your draw attempts promptly to claim rewards. Unused draw attempts will expire on December 19, 2025 at 23:59:59 (UTC). - Please claim your lucky Mystery Box prizes within 10 days of drawing them. Unclaimed prizes will expire after 10 days. - Mystery Box rewards will be tallied and distributed within 7 business days after the end of each challenge period. - Rewards for the Transaction Ranking Challenge will be distributed within 15 business days after the end of the event. - All leaderboard rewards are USDT contract trading bonuses. The Mystery Boxes contain bonuses, tokens, position trial vouchers, and physical rewards. Contract bonuses and position vouchers are valid for 7 days from the date of issuance. How to use bonuses and position vouchers? - Physical rewards are converted into equivalent USDT value and issued as USDT. - Event rewards are automatically issued to the user's contract account and are non-transferable and non-withdrawable (except for direct USDT rewards). - Phemex reserves the right to disqualify users from participation and prize collection if they engage in the following behaviors: bulk registration, fraudulent trading or arbitrage exploitation, account sharing, wash trading, or any operation that violates the platform's fair use principles. - All event data is based on Phemex system calculations, and the final interpretation right belongs to Phemex. - This event is not affiliated with Apple Inc., and Apple is not a sponsor or partner of the event.