Phemex, one of many quickest crypto change and futures buying and selling platform has introduced a sexy contest for its neighborhood. Beginning March 24th, the fifteen-day lengthy Phemex Dealer’s Enviornment contest with a beneficiant prize pool of $2 million permits merchants to type groups and compete towards one another.
Registrations for the Phemex Dealer’s Enviornment Contest began on March 10th. The competition is targeted on BTC/USD buying and selling pair on the platform, and solely these fulfilling the participation necessities set forth by the platform will likely be eligible to participate in it.
Necessities and Floor Guidelines
The Phemex Dealer’s Enviornment contest requires every participant to have a BTC Buying and selling Account with a web worth of not less than 0.005 BTC which incorporates present crypto steadiness in addition to unrealized PnL on the time of registration. As soon as the registration course of is accomplished, they must create or grow to be a part of a crew. The minimal crew measurement for participation within the occasion is 10, and those that usually are not a part of any crew or have a smaller crew measurement will likely be randomly assigned to completely different groups earlier than the occasion begins.
Every crew can have a Captain – one that types the crew. The crew captain will likely be eligible to obtain further advantages based mostly on their crew’s efficiency.
Guidelines governing the Phemex Dealer’s Enviornment contest restricts taking part people and groups from i) registering batch accounts; ii) indulging in market manipulation for revenue; and iii) conducting reverse transactions between crew members to yield larger ROI’s for choose few crew members.
Every dealer can use just one account to take part within the occasion. The platform doesn’t think about sub-accounts as particular person members. Additionally, the usage of API buying and selling is restricted for all contest members.
Phemex Dealer’s Enviornment Awards
The Phemex Dealer’s Enviornment contest has a $2 million prize pool, of which 78% will likely be paid out as crew awards and the remaining 22% as particular person awards. Every class can have a winner and two runners-up, determined based mostly on ROI (for groups) and PnL (for people).
The breakdown of reward distribution is as follows:
|Award||Group Award||Particular person Award|
|Prize Pool||78% of whole prize pool||22% of whole prize pool|
|1st Place||25% of the whole prize pool||8% of whole prize pool|
|2nd Place||15% of whole prize pool||5% of whole prize pool|
|3rd Place||8% of whole prize pool||2% of whole prize pool|
|4th to 10th Locations||30% of whole prize pool, distributed evenly||7% of the whole prize pool, distributed evenly|
Additional, the captains of every successful crew will obtain 40% of their respective crew’s award adopted by 30% distributed equally amongst prime 10 crew members. The remaining 30% will likely be shared by remaining crew members in equal parts. Within the occasion, the crew has lower than 20 members every member, other than the crew captain will obtain an equal share in 60% of the award.
Every crew captain will obtain $100 as crew formation prize together with as much as a 50% share of buying and selling commissions. Additionally, the primary 2000 merchants to register for the Phemex Dealer’s Enviornment will get $10 bonus and restricted version Phemex merchandise.
Be part of the Phemex Dealer’s Enviornment
Register for the Phemex Dealer’s Enviornment contest at – https://phemex.com/crypto-trading-competition
Winners of the competition will likely be introduced on April 13th, 2021.