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Traders from all over the world, assemble!
Phemex is up for a new edition of Trader’s Arena, a crypto trading competition with up to $2 million on the line.
After the immense success of the last edition, it would be a pity to miss the opportunity to try and get additional BTC – especially since we are in the middle of a bull run.
What are the rules?
The Arena is dedicated to the most enthusiastic Bitcoin traders out there. The competition is high, but so could be the rewards.
Given these facts, Phemex established three sets of rules so that the competition would run as smooth as possible:
- Registration rules
To join the competition, you would need to check two boxes:
- A Phemex account;
- A minimum of 0.005 BTC net value in your Trading account at the moment of registration.
If you checked both, then you are ready to move on to the next stage.
- Team set up rules
The Arena is designed for teamwork, and since we’re talking about a worldwide contest, you can’t win with a small crew.
That’s why each team needs to have at least 10 members to have real winning chances. And if your crew doesn’t meet the requirements, you will be randomly assigned to another team.
It’s all about surviving.
- Anti-fraud rules
The bigger the prize, the greater the chance for players to seek shortcuts. This is why Phemex decided to disqualify any team that practices the following actions:
- Batch accounts;
- Market manipulation;
- Reverse transactions;
- API trading.
Trader’s Arena is a fair game, and scammers don’t belong here.
When is the competition?
It already started on March 10th, but you still have time to join until March 23th.
On March 24th, after the teams are ready, Phemex kicks off the trading battle. And if you and your crew are going to do a great job, then there are big chances to find your team name on the leaderboard.
At the moment, over 3760 people joined the Phemex Trader’s Arena, putting the prize pool at 3 BTC.
The rewards are distributed on April 13th, their value depending on the total number of participants.
What can you get?
Well, that depends on how good of a trader or leader you are. Captains get 40% of the team’s prize alone. There’s also 30% of the prize which goes to the top ten members. The higher ranking they have, the bigger is the prize.
The top 3 teams get, in order, 25%, 15%, and 8% of the total prize pool, while the next seven crews get 30% to share equally.
But there’s more.
Although the contest is made for teams, there are individual awards as well – a healthy competition between members doesn’t hurt.
Therefore, the top 3 players get, in order, 8%, 5%, and 2% of the total prize pool. The 4-10 places will get 1% each.
Let’s see an example
If the maximum $2 million prize pool is unlocked and you are both in the winning team and in the first rank of Arena traders, then your final reward will be calculated like this:
- First-place Team Award: $500,000
- Captain reward: $200,000
- Top 10 members reward: $150,000
- Top 10 members individual reward: $15,000
- First-Place individual reward: $160,000
Total prize: $200,000 + $15,000 + $160,000 = $375,000
Then what are you waiting for? Build your team and conquer the Trading Area!