Here comes KTX.Finance 30 days long Trading Competition 4 with 50,000 USDT Prize Pool
KTX.Finance is grateful for the continuous support from our trading community. With the success of Trading Competition 2 (Read here) and Competition 3 led our Total Trading Volume to soar to $178 million. Additionally, since 19th July 2023, we’ve seen an increase to 2,810 unique traders within the BNB Chain DeFi ecosystem.
In anticipation of our forthcoming expansion to the Mantle Network, a Layer 2 roll-up solution, we aim to further energize our trading community. KTX.Finance is thrilled to announce Trading Competition 4. This competition offers 2.5 times the prize pool of Trading Competition 3 and lasts three times longer. This extended duration is designed to include newcomers who may have missed previous competitions, and also to inspire our seasoned pro-traders. The competition will run from 16 August 2023 at 0000H GMT+8 until 14 September 2023 at 2359H GMT+8.
Seize this exciting chance to participate in a competition with a prize pool totaling 50,000 USDT! Don’t miss out!
Eligibility Criteria
Trading Competition 4 will be 30-day long.
Traders will be ranked according to their Trading points. The Trading points formulation is the same as in Trading Competition 3! The only change is in the details of the $KTC Multiplier.
Trading points = (1 + ROI%) * Cumulative Trading Volume * ($KTC Multiplier+Trading Competition 2/3 Booster)- ROI refers to your total PnL divided by your total collateral posted during the entire Trading Competition Period (16 August 2023 0000H GMT+8 to 14 September 2023 2359H GMT+8).
- Cumulative Trading Volume refers to the total collateral posted multiplied by the amount of leverage for the opening & closing of every trade.
- $KTC Multiplier varies depending on the amount of $KTC the trader has staked during the period of trading competition.
- For Trading Competition 4, KTX.Finance will add in +0.5 Multiplier for traders who previously traded with a minimum total trading volume of 10,000 USDT during Trading Competition 2 and/or 3 time frame to give them an additional boost to their Trading Points. In the future, this will be a feature to encourage repeated and genuine traders who want excitement in the competition!
Prizes
⏰ The 30 days long Trading Competition 4 will consist of 2 reward pools!
📢Daily Reward Pool (30,000 USDT)
🤩Prizes are distributed on a daily basis. Daily prize pool is 1,000 USDT. Total prize that will be issued is therefore 1,000 USDT/day x 30 days = 30,000 USDT.
Each trader receives a pro-rata share of the daily reward pool calculated as:
Reward distribution = (Personal 24H Day Trading Points/Total 24H Day Pool Trading Points)*Daily Reward PoolTraders will be categorized into different pools based on their 24H Daily Trading Points (starts from 0000H GMT+8 of Day N and ends at 2359H GMT+8 of the same Day N)
📢Final Reward Pool (20,000 USDT)
🤩Prizes are distributed at the end of the 30 days long competition and their cumulative Trading Points over Trading Competition 4 will be considered in the prize distribution.
This final prize pool will be split into fixed and variable.
Fixed Pool (6,750 USDT)
- 1st Place: 3,000 USDT
- 2nd Place: 1,500 USDT
- 3rd Place: 1,000 USDT
- 4th Place: 750 USDT
- 5th Place: 500 USDT
Variable Pool (13,250 USDT)
ALL eligible participants during the Trading Competition 4 time frame will share a 13,250 USDT prize pot.
Final variable prize distribution = (Personal Cumulative Trading Points/Total Trading Points for All eligible traders)*13,250 USDTTherefore, if a pro trader made it to top 5 with his/her cumulative Trading Points during the entire Trading Competition period, he/she will be rewarded with both fixed and variable rewards making his prize rewards super attractive!
Rules
In order to participate in the daily trading competition, traders must:
- Understand the Point Ranking System and how to leverage on the $KTC Multiplier
- Have a trading volume of at least 10,000 USDT (Collateral * amount of leverage * number of actions)
- Only trades opened and closed on KTX.Finance will be counted towards the competition statistics
- Follow our Twitter, Like and re-tweet the competition post
- Winners will be announced 2 working days after the end of the Trading Competition period
- Winners have one week to claim your rewards after the end of the Trading Competition period.
Trader Point Calculation Examples
Trade information that applies to Scenario 1 and Scenario 2
Collateral = USDT 1,000
Leverage = 30x
Trading Volume = USDT 30,000Scenario 1: Trader closes a profiting trade with 300 $KTC staked
ROI = +50.0%
$KTC Staked = 501
Trader Points = (1+50.0%)*(30,000+45,000)*2 = 225,000
Opening Trading Volume = 30,000
Closing Trading Volume = 45,000
$KTC Multiplier = 2Scenario 2: Trader closes a losing trade with 0 $KTC staked
ROI = -50.0%
$KTC Staked = 0
Trader Points = (1-50.0%)*(30,000+15,000)*1 = 22,500
Opening Trading Volume = 30,000
Closing Trading Volume = 15,000
$KTC Multiplier = 1Start Trading on KTX.Finance Now!
Follow this guide to begin trading on KTX.Finance.
Become a follower of our mission to decentralize perpetuals trading!
You are still early! Trade more, socialize more, refer more and participate more and you will stand to benefit in our ecosystem as KTX.Finance grows to be one of the best DEX in DeFi.
