Phemex IV Set To Begin With $750,000 Up For Grabs
27 November 2021 - 11:46AM
NEWSBTC
Phemex has come back with its popular Phemex Trader’s Arena trading
competition. The previous 2020 edition of the competition saw
traders win over 100 Bitcoin. The fourth edition of the anticipated
trading competition promises to be exciting with massive rewards.
This time around, Phemex has upped the stakes. The crypto exchange
is calling on all traders to participate for a chance to share in
the prize pool of $750,000. Traders will battle each other and
victorious traders will be rewarded at the end of the competition.
Traders can compete in Phemex IV as individual traders or as part
of a team. Prizes will be awarded to the victors in two categories:
individual and teams. Changing The Rules, Not The Game Previously,
Phemex had only counted inverse BTCUSD contract trades towards the
final total for each trader. However, the 2021 edition of the
competition comes with a few tweaks to allow for more
participation. Phemex has announced that for Phemex IV, all
contracts available on the platform will be counted. ROI on both
USD and BTC trading will count towards the final total. The
contract with the highest amount at the end of the competition will
be counted for the individual. Phemex will calculate individual
results using PnL across BTC and USD trading accounts. Users with
the highest ROI at the end of the allocated time period will emerge
as winners of the competition. How To Participate Traders can sign
up for the Phemex IV trading competition through the registration
link. The more traders sign up to participate in Phemex IV, the
bigger the prize pool. Traders can sign up to compete as individual
players. Although traders who possess enough clout to get a team
behind them can sign up as a Team Captain and compete as a team.
Team Captains will need to sign up for their team and each team
must include 10 members to be considered a valid registration.
Traders can add to their team over time but if they do not reach
the minimum requirement by the time registration closes, the team
will be automatically disqualified/disbanded. Members from
disbanded teams will then be assigned randomly to other teams in
order to compete. A team may have well over 10 members. However,
only the ROI of the top 10 traders in each team will be counted
towards the team’s final total at the end of the competition.
Registration for Phemex IV will run from Nov. 25th, 2021 to Dec.
9th, 2021, after which the competition will kick-off. The
competition is scheduled to begin on Dec. 9th, 2021 8 AM UTC to
Dec. 24th, 2021 8 AM UTC. Enter The Phemex IV Arena Players in the
Phemex IV trading competition will be rewarded according to the
category they compete in. Individual traders will be rewarded based
on their BTC and USD PnL (profits and losses). While teams will be
ranked according to the average ROI of their top 10 performing
members. Bonuses are up for grabs in both categories. For
individual traders, Phemex IV is giving trading bonuses to
participants who make high enough deposits into their contract
trading accounts for the duration of the competition. The higher
the deposit, the larger the bonuses that individuals can get. Team
Captains are not left out of the bonuses. Team captains will be
awarded prizes based on the size of their teams. Teams can be as
small as 10 members and as large as 200 members. The higher the
team members, the better the prize Prize Pool Allocation The prize
pool for Phemex IV will feature a 78%-22% breakdown. Teams will
receive a larger share of the final prize pool, while the remaining
22% goes to individual players. For teams, the team captains will
receive 40% of the team’s award. The top 10 members will each
receive 3%, amounting to 30% of the total team’s award. The rest of
the members will receive a share of the remaining 30% according to
the number of people in the team. Winners in the individual trading
category will receive 8% of the total prize pool if they place in
the first place. 5% will go to the 1st runner up of the individual
competition and the 2nd runner up will receive 2%. Individual
players who place 4th-10th will have the remaining 7% divided up
equally among them. Prizes, bonuses, and awards will be distributed
after the competition ends. Up to $750,000 in BTC awaits the
teams/traders that emerge victorious in this competition.
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