Phemex Trader’s Arena makes a triumphant return, this time featuring an exciting new contest aptly named 'Race for Glory'.
Phemex Widely recognized as one of the swiftest exchanges in the crypto world, Phemex offers a plethora of trading tools and expertly curated competitive events for crypto enthusiasts.
With the past two events setting high benchmarks, this new competition boasts a prize pool of up to $750,000 awaiting participants.
Phemex and the Race for Glory: A Timeline
The Phemex Arena Trader contest kicks off on June 7. Aspiring participants have until June 20 to register as team leaders and recruit members to vie for the grand prize.
The trading competition The competition runs from June 21 to July 4. The results will be tallied, and the victorious teams will be unveiled, with rewards distributed on July 12.
Requirements and Basic Rules
As with the previous contests, participants must have a BTC Trading Account hosting at least 0.005 BTC at the net value, inclusive of current holdings and unrealized profits and losses upon signing up.
After navigating the registration phase, contestants must assemble a team or join an existing one.
The smallest team allowable for entry is 10 members; those unable to form or join a full team will be randomly allocated into teams.
Every team will have a leader—the Captain who organizes the team members. Captains can earn additional benefits tied to their team's success.
In an exciting new twist, Phemex has rolled out a fresh incentive structure for team captains:
| Team Members | Rewards for Captain |
| 10 | $300 |
| 20 | $500 |
| 30 | $700 |
| 50 | $1,300 |
| 100 | $2,500 |
| 150 | $4,000 |
| 200 | $6,000 |
For teams with fewer than 40 participants, rankings are based on the average ROI of the top 10 traders, blending individual and team evaluations. Individual standings reflect profits and losses.
Specific rules govern the Phemex Trader’s Arena, restricting personal and reverse trades within teams to amplify collective ROI.
Each trader is permitted to use only one account. Sub-accounts are not recognized as separate participants.
Award Distribution
The prize pool of the Phemex Trader’s Arena contest is divided with 78% awarded to teams and the remaining 22% designated to individual achievements, calculated through ROI and PnL metrics.
Team rewards are impressive, with distribution detailed as follows:
- The top team secures 25% of the total prize pool.
- The runner-up team garners 15% of the total prize pool.
- Third place secures 8% of the prize pool.
- Teams ranked from 4th to 10th divide 30% of the entire prize pot equally.
Additional prizes include:
- Winning team captains scoop 40% of their team's winnings.
- The 10 best performers among traders share 30% of their team's haul.
- Top 10 members of each victorious team will evenly split 30% of their team's reward, with the remaining team members sharing the other 30%.
- For teams with fewer than 20 members, the captain pockets 40% of their gains with the balance equally distributed among the team.
Participants with trading volumes under $500 during the contest aren't eligible for awards.
For individual accolades, 22% of the prize pool is earmarked for the 10 top players, allocating 8% to the champion, 5% to second place, 2% to third, and a shared 7% for ranks four through ten.
Phemex introduces another spectacular contest, rewarding players with potential earnings up to $750,000. To join the Race for Glory, just click right here!
