Twice the Prize Pool For KTX.Finance 10 days long Trading Competition
The Trading Competition 2 ended with a blast yesterday with more than 1,500 new unique traders joining in over the week to pit against each other for the 10,000 USDT prize pool!
It was a special week for KTX.Finance as we hit record breaking milestones one after the other on our protocol. We also announced our $4 million USD seed round financing led by Hashed which had undoubtedly gained a lot of attention in the DeFi space especially so when KTX.Finance managed to still raise in the midst of the bear market. The team is humbled from the experience and trust and will continue working harder to achieve new heights!
We have doubled our user base to 2,000 unique traders and grew our cumulative total trading volume from $40 million to $60 million in a short span since 13th July 2023. With that, KTX.Finance is eager to give back to our trading community and we are grateful for their passion and unwavering support for the protocol. KTX.Finance will be launching Trading Competition 3 starting on July 21st 2023 0000H GMT+8 with twice the prize pool and 10 days long to encompass more new traders who might have missed the earlier round.
Don’t miss out on this eagerly awaited opportunity with a prize pool of 20,000 USDT!
Eligibility Criteria
Traders will be ranked according to their Trading points. The Trading points formulation is the same as in Trading Competition 2! The only change is in the details of the $KTC Multiplier.
Trading points = (1 + ROI%) * Cumulative Trading Volume * $KTC Multiplier- ROI refers to your total PnL divided by your total collateral posted during the entire Trading Competition Period (21st July 2023 0000H GMT+8 to 30th July 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 3, 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 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 10 days long Trading Competition 3 is held from 21st July 2023 0000H GMT+8 to 30th July 2023 2359H GMT+8.
The prize pool will be split into variable and fixed.
Variable
ALL eligible participants who have a cumulative trading volume of at least 10,000 USDT during the Trading Competition 3 time frame will share a 12,000 USDT prize pot.
Each traders will get a piece of the pot according to this proportion:
(Personal Trading Points/Total Trading Points for ALL eligible traders)*12,000Fixed
In additional, the Top 10 Trader ranked by Trading Points will also be rewarded with the following:
- 1st Place: 1,500 USDT
- 2nd Place: 1,300 USDT
- 3rd Place: 1,150 USDT
- 4th Place: 1,000 USDT
- 5th Place: 850 USDT
- 6th Place: 700 USDT
- 7th Place: 600 USDT
- 8th Place: 450 USDT
- 9th Place: 300 USDT
- 10th Place: 150 USDT
Therefore if a pro trader made it to top 10, he will be rewarded 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
Trader Point Calculation Examples
Trade information that applies to Scenario 1 and Scenario 2
Collateral = USDT 1,000
Leverage = 30x
Trading Volume = USDT 30,000
Scenario 1: Trader closes a profiting trade with 300 $KTC staked
ROI = +50.0%
$KTC Staked = 300
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.
