Skip to main content

Massive Rewards Up For Grabs In The Phemex Olympics Trading Competition

Cryptocurrency exchange Phemex has announced it is hosting an Olympics competition for traders. The competition will give traders a chance to earn rewards based on their trading volume and return on investments (ROI). The competition is scheduled to start at the end of July on the 30th. Kick-off time has been placed at 8 AM UTC. The Olympics will run for two weeks until August 13th at 8 AM UTC.

Check the Phemex Olympics website to register and monitor your progress.

Phemex has decided to take a page from the playbook of the Tokyo Olympics, which was recently kicked off. They’re giving their own “players” a chance to win prizes in their own sport of crypto trading.

Traders will be ranked according to their trading volume and speed of achieving a certain ROI. Participants in the competition only need to sign up for Phemex and meet the requirements for enrollment.

Phemex Olympics Trading Competition Rewards

The Phemex competition is divided into two categories. Based on which requirements they meet, users can participate in one or both categories of the Phemex Olympics. These categories include weightlifting, ranked by highest trading volume at the end of the event, and sprinting, based on who can reach 500% ROI the fastest.

Weightlifting competitors will be rewarded based on the following table:

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

Sprinting competitors will be rewarded based on the following table:

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

Competitors will be subject to different rules and requirements for each category. For a full list of rules, please review the official Phemex Olympics announcement.

Phemex Terms And Conditions

Calculations for ROI will be done on Individual PNL. This includes the initial balance on the trading account, the number of deposits to the account during the competition, commissions earned for the duration of the competition, and the bonuses received on the account during the competition.

Users can participate in both categories but are only allowed to use main accounts. Sub-accounts are not allowed in the competition. Also, batch account registrations, profits from market manipulation, and using APIs in the Weightlifting category will result in immediate disqualification. APIs are only allowed in the Sprinting category.

Rewards will be distributed 15 days after the competition ends. Amounts of bitcoin awarded to participants are subject to the OTC settlement exchange rate on the day they are paid out.

Phemex reserves the right to adjust the converted prices and the right to make final and binding amendments to the rules.

Phemex will display participants’ current trading volume ROI on the Phemex Olympics landing page. This page will be refreshed every 10 minutes to show the current progression of each participant.

 

 



from NewsBTC https://ift.tt/2VrlRac
via IFTTT
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

DeFi isn’t dead, it just needs to fix these 3 critical problems

It’s been a rough year for DeFi, and it may not get any better until projects focus more on security, regulation and usability. The persistent challenges  decentralized finance  face have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi. I think DeFi today is completely broken for 99% of the population. The promise of a more transparent financial system has been overtaken by greed. UST/LUNA is just the latest in a string of bad developments: — Peter Yang (@petergyang) May 11, 2022 Let's take a look at what experts say DeFi needs to do in order to have another revival.  Improved usability To date, the promise of open and uncensored access to a global decentralized financial system has been largely hampered by the complicated interface, confusing multi-step staking processes and lack of clarity surrounding the yields on various tokens. What do you thi...
Post a Comment
Read more

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.  Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for  resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...
Post a Comment
Read more

TA: Ethereum Remains Strong, Why ETH Could Rally Above $2.3K

Ethereum is trading in a positive zone above the $2,150 support zone the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,300. Ethereum is trading in a positive zone above the $2,100 and $2,150 support levels. The price is now trading above $2,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD (data feed via Kraken). The pair start a fresh rally above $2,300 as long as it is above the $2,000 support zone. Ethereum Price Is Showing Positive Signs After forming a base above $2,000, ethereum started a steady increase . ETH broke the $2,200 resistance zone and it settled nicely above the 100 hourly simple moving average. The price even spiked above the $2,250 resistance level. However, the price seems to be struggling to gain pace above $2,250, similar to bitcoin . A high is formed near $2,285 and ether is now correcting lower. There was...
Post a Comment
Read more