It all started back on September 24th when Phemex began taking sign-ups from those wanting to captain teams. And now, fast-forward to October 9th, regular team members have been given a tight 15-day window to register in the competition and choose their teams.
With teams squaring off in this thrilling trading challenge, the prize pot on offer is nothing to scoff at, starting off at 2 BTC and potentially ballooning to an impressive 100 BTC!
What is Phemex?
Phemex Phemex stands tall as a leading platform in the realm of crypto derivatives, established by savvy Wall Street traders and financiers. The platform boasts 12 spot trading pairs alongside 15 contract pairs, with the allure of trading some pairs with leverage stretching up to x100.
Setting itself apart, Phemex is among the early adopters of a nominal membership fee allowing for spot trading without fees. Their laser focus on security, paired with stellar customer service, quickly won over crypto mavens, solidifying Phemex as a go-to exchange.
Phemex Trader’s Arena – The Complete Lowdown
The Phemex Trader’s Arena It’s a thrilling crypto trading contest set to run from October 24th to November 7th, where teams will be raking in rewards based on their trading prowess, with the final spoils dependent on the tally of enrolled participants.
The initial prize reservoir begins at 2 BTC if there are between 200 to 499 participants but could soar to 100 BTC should over 10,000 enthusiasts throw their hats in the ring. So rally your friends to sign up to maximize your earnings from this adventure.
How is the prize distributed?
Both teams and standout individuals will walk away with prizes.
The top 10 standout teams will claim 78% of the pot, distributed as follows:
- The 1st place team will get 25% of the prize;
- The 2nd place team will get 15% of the prize;
- The 3rd place team will get 8% of the prize;
- Teams in positions 4 through 10 will each grab an equal portion of the 30% slice.
Moreover, the team's spoils will be divvied up according to a specific breakdown:
- The team leader will pocket 40% of the reward;
- The ten standout team members will split 30% of the winnings;
- The remaining team members will share the rest of the 30% prize.
That leaves solo traders with a 22% piece of the overall prize pool, divided this way:
- 1st place gets 8% of the prize;
- 2nd place gets 5% of the prize;
- 3rd place gets 2% of the prize;
- Places 4 to 10 will share 7% of the prize.
How can you register?
The sole requirement to step into the Phemex Trader's Arena is possessing a Phemex BTC Wallet with a net value of at least 0.02 BTC.
If you tick that box, you're good to go and can secure your spot for the contest via registration form .
Once locked in, teams must boast at least 10 members to compete. Should a team fall short on numbers, it’ll be disbanded, and members will be reassigned to other teams.
Trading action will exclusively revolve around BTC/USD perpetual contracts, with BTC as the currency settling the trades.
Once the dust settles post-competition, Phemex will rank all competitors and commence payouts on November 12th.
Ensure you aren't left behind - conjure your team, join the competition, and aim for glory at the Phemex Trader’s Arena.
