Phemex has opened the gates for the thrilling BTC/USD trading showdown. The opportunity to win a share of the $2 million prize awaits from March 24, 2020.
Traders are in for a challenging experience where skill meets opportunity, with the chance to reap significant rewards. Buzz is building around this event, and trading enthusiasts are eagerly signing up to prove their skills.
As with many such contests, the total prize money will hinge on the number of participants that descend upon the Phemex Trader’s Arena.
Here’s the breakdown of how the prizes will be determined:
Participants – Prize Amount in USD
- 200-499 – $10,000
- 500-999 – $25,000
- 1000-1999 – $75,000
- 2000-3999 – $150,000
- 4000-5999 – $400,000
- 6000-7999 – $600,000
- 8000-9999 – $1,000,000
- 10000-14999 – $1,250,000
- 15000-17999 – $1,875,000
- 18000-20000 – $2,000,000
Registration is open now , and everyone is encouraged to monitor the unfolding events or join the competition right here. The format involves teams of 10 or more members, and each trader must maintain a balance of 0.005 BTC to qualify.
What Awaits You in the Phemex Trader’s Arena
Mark your calendars: From March 24 to April 7, 2020, the Phemex Trader’s Arena will be the center of the trading universe.
When the competition culminates, awards will be distributed on April 13, 2020. A bonus of $10 awaits the first 2,000 traders to sign up, alongside exclusive Phemex gear. Team leaders earn an additional $100 for assembling their squads.
Moreover, captains take home 40% of their team’s earnings, with up to 50% from trading commissions.
According to Phemex:
Envision a max prize stash of $2 million: The leader of the top-tier team, also ranking in the top 10 within their squad, and crowned as the best individual trader, could net $375,000.
Phemex provides insight into prize calculations below:
Team Award Formulas (ROI):
How to Determine Individual ROI:
Personal PNL / (Initial BTC Account Balance + All Inbound Transfers + Earned Commissions + Bonuses Received during the event)
How to Determine Team ROI:
Aggregate the ROI of the 10 leading team members
How to Calculate Individual PNL:
BTC Account Current Net Value (Balance + Unrealized PNL) – Initial Net Balance + Outgoing Transfers During Event – Incoming Transfers – Commission – Bonuses
The Award Structure
In the Phemex Trader’s Arena, glory awaits both exceptional teams and individual virtuosos.
Here's the prize allocation plan:
A substantial 78% of the final prize marks the share for teams, distributed as follows:
- 1st Place Team: 25% of total prize pool
- 2nd Place Team: 15% of total prize pool
- 3rd Place Team: 8% of total prize pool
- Teams ranking 4th to 10th snag 30% of the overall prize equally.
The individual contest sees 22% of the grand prize, shared amongst the following:
- 1st Place Trader: Grabs 8% of the total prize pool
- 2nd Place Trader: Scoops up 5% of the prize pool
- 3rd Place Trader: Takes home 2%, with positions 4 through 10 sharing an additional 7% equally.
- For those wanting to showcase BTC trading prowess on a leading platform, the Phemex Trader's Arena is unmissable. Coupled with 24/7 access to a variety of trading tools, it welcomes both novices and seasoned traders into its fold.
Phemex Trading Opportunities
Phemex stands as a gateway for newcomers, offering a free demo trading platform to quicken their learning curve. For the veterans, it brings advanced tools essential for institutional trading activities.
Besides a suite of token pairs and rapid-fire trading, Phemex presents membership plans that greatly reduce the costs for bulk traders. Discover more about what this exchange has to offer,
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