The cryptocurrency alternate Phemex has introduced that it’ll host an Olympic competitors for merchants. The competitors offers merchants the chance to earn rewards primarily based on their buying and selling quantity and return on funding (ROI). The competitors is scheduled to begin on July 30th on the finish of July. The kick-off time was set at Eight a.m. UTC. The Olympics will run for 2 weeks by August 13 at Eight a.m. UTC.
Go to the Phemex Olympics web site to register and monitor your progress.
Phemex determined to take a web page from the Tokyo Olympics playbook that was just lately launched. They provide their very own “gamers” the possibility to win prizes in their very own sport Crypto buying and selling.
Merchants are ranked primarily based on their buying and selling quantity and the pace at which they’re getting a sure ROI. Individuals within the competitors solely must join Phemex and meet the admission necessities.
Phemex Olympics Buying and selling Contest Awards
The Phemex competitors is split into two classes. Relying on the necessities they meet, customers can take part in a single or each classes of the Phemex Olympics. These classes embrace lifting weights, ranked by the very best buying and selling quantity on the finish of the occasion, and sprinting, primarily based on who’s quickest to realize a 500% ROI.
Weightlifting opponents are rewarded primarily based on the next desk:
| Value / participant | <250 | 250-500 | > 500 |
| Rank 1 | 10,000 USD | $ 12,500 | $ 20,000 |
| Rank 2 | $ 5,000 | 7,500 USD | 10,000 USD |
| Rank 3 | 3,000 USD | 4,000 USD | $ 5,000 |
| Rank 4-6 | 1,000 USD | 2,000 USD | 3,000 USD |
| Rank 7-10 | 500 USD | 1,000 USD | 1,000 USD |
| complete | $ 23,000 | $ 34,000 | $ 48,000 |
Sprinting opponents will likely be rewarded primarily based on the next desk:
| Value / participant | <1000 | 1000 | 1500 | 2000 | 2500 | > 3000 |
| Rank 1 | 2,000 USD | 4,000 USD | 6,000 USD | $ 8,000 | 10,000 USD | $ 20,000 |
| Rank 2 | 1,500 USD | 2,000 USD | 3,000 USD | 4,000 USD | $ 5,000 | $ 8,000 |
| Rank 3 | 1,000 USD | 1,500 USD | 2,000 USD | 2,500 USD | 3,000 USD | 6,000 USD |
| Rank 4-10 | 500 USD | 600 USD | 700 USD | 800 USD | 900 USD | 1,500 USD |
| complete | $ 8,000 | $ 11,700 | 15,900 USD | $ 20,100 | $ 24,300 | $ 44,500 |
The members are topic to completely different guidelines and necessities for every class. For a full listing of guidelines, see Phemex’s official Olympic Video games announcement.
Phemex Phrases of Use
Calculations for the ROI are carried out on particular person PNL. These embrace the preliminary steadiness within the buying and selling account, the variety of deposits made into the account in the course of the competitors, the commissions earned in the course of the competitors and the bonuses obtained within the account in the course of the competitors.
Customers can take part in each classes, however can solely use grasp accounts. Sub-accounts should not allowed within the competitors. As well as, bulk account registrations, earnings from market manipulation and using APIs within the weightlifting class will lead to instant disqualification. APIs are solely allowed within the Dash class.
The prizes will likely be paid 15 days after the tip of the competitors. The Bitcoin quantities allotted to members are topic to the OTC settlement price on the day of cost.
Phemex reserves the best to regulate the transformed costs and to make remaining and binding modifications to the foundations.
Phemex shows the present buying and selling quantity ROI of members on the Phemex Olympics Touchdown Web page. This web page is up to date each 10 minutes to indicate the present progress of every participant.
