It's party time at ApeX as we celebrate our very first anniversary with an exciting trading competition. Whether you're a pro or just getting started in the crypto scene, this event is your shot at some serious prizes.
Let's break down what's in store.
Mark Your Calendars
Registration: Nov 21, 2023, 12PM UTC - Nov 30, 2023, 12PM UTC
Starting on November 21, 2023, at 12 PM UTC, you've got until November 30, 2023, at the same time to throw your hat into the trading ring. Don't miss out on being part of this anniversary bash! To get in on the action, make sure your total equity is over 100 USDC.
Showtime: Nov 23, 2023, 12PM UTC - Dec 5, 2023, 12PM UTC
The real action happens between November 23, 2023, and December 5, 2023. Circle these dates because this is when you can strut your trading stuff and make your mark.
Trade Your Way up to Snag Rewards from the Pool of 21,000 USDC
This celebration comes with a whopping total prize pool of 21,000 USDC, split between the main and side bonus pools. Here's the lowdown on the rewards:
Main Prize Pool - 20,000 USDC: 🏆 The top 50 traders get a slice of the 20,000 USDC pie. The higher you climb on the leaderboard, the bigger your reward.
🎖️ To snag a prize, aim for a minimum trading volume over 50,000 USDC during the competition. Winners are picked based on their percentage of Profit and Loss (P&L%). And remember, in case of a tie, the one with the higher trading volume takes the crown.
Side Bonus Pool - 1,000 USDC: 🎁 50 random traders score a bonus of 20 USDC each. Hit a trading volume above 1,000 USDC to be in the running for these extra goodies.
Please note, both prize pools have unlockable tiers tied to how many traders jump into the competition, so get your pals on board to level up the excitement!
It's time to gear up, sign up, and let your trading skills shine.
As ApeX marks its first year, the trading competition is the highlight, giving traders a chance to celebrate and win big. May the best traders take the spotlight in the Apex 1st Anniversary Trading Contest.
Profit = Final Net Value of the account + Withdrawal Amount during the competition period - Initial Net Value of the account - Deposit Amount during the competition period
Initial Net Value of the account = The total assets of the account at the start of the competition, including wallet balance, maintenance margin, position margin, unsettled profit and loss, and bonuses (if any)
Final Net Value of the account = The total assets of the account at the end of the competition, including wallet balance, maintenance margin, position margin, unsettled profit and loss, and bonuses (if any)
Withdrawal Amount = Sum of all assets withdrawn during the competition period, including on-chain transfers, swaps under Trade-to-Earn, or any activity that results in the use of USDC
Effective Deposits = Eligible Deposits * (time span between deposit time and the end of the competition / total time span of the competition, where time is calculated in hours)
Eligible Deposits = The sum of all deposits during the competition period, including on-chain transfers, swaps under Trade-to-Earn, airdrops, referral or affiliate commission transfers, bonuses, or any activity that results in USDC earnings
P&L(%) = Profit / (Initial Net Value in account + Sum of Effective Deposits during the competition period)
If the denominator is 0, profit will be displayed as "--" and will not be calculated
Terms and Conditions:
Users must sign up during the registration period to be eligible to participate in the Trading Competition.
The trading competition is open to all users.
The Registration Phase for the trading competition will begin on Nov 21, 2023, at 12:00PM (noon) UTC and end on Nov 30, 2023, at 12:00PM (noon) UTC, while the Competition Phase will commence on Nov 23, 2023 at 12:00PM (noon) UTC and end on Dec 5, 2023, at 12:00PM (noon) UTC.
Users are eligible to register for the competition if their total equity is greater than 100 USDC. Total Equity includes maintenance margin, position margin, and available wallet balance. Assets involved in Trade-to-Earn and staking are not counted.
The prize pool tiers for both the main competition and the side rewards pools will be determined by the number of participating traders. Refer to the table in the blog post for a detailed breakdown of these tiers and their corresponding benefits.
Participants will be ranked based on their P&L(%) generated during the competition period.
P&L(%) = Profit / (Initial Net Value in account + Sum of Effective Deposits during the competition period), view details in the ApeX Blog.
Only the USDC trading volume will be counted in the trading competition statistics.
To qualify for rewards from the main prize pool worth 20,000 USDC, users must accumulate a minimum of 50,000 USDC in trading volume and be ranked among the top 50 on the leaderboard with the highest P&L%.
To be eligible for rewards from the bonus rewards pool worth 1,000 USDC, users must accumulate a minimum of 1,000 USDC in trading volume.
During the trading competition, each wallet address can only receive trading competition rewards once.
Tabulation of trading data from the competition will be completed within seven (7) working days after the event's end date. The winning addresses need to claim their rewards within fourteen (14) days after rewards are available for claiming. Once the claim period ends, rewards cannot be claimed anymore.
If reward distribution is delayed for any reason (e.g. due to technical issues), the rewards will be re-distributed within 30 days after the event's end date.
Participants' trades recorded on ApeX Pro under the event will be strictly reviewed. Participants may be disqualified if any of the following trading behaviors are detected, including but not limited to batch registration of accounts, self-buying and selling, Sybil trading, and other cheating behaviors.
Market makers can not participate in this event.
The ApeX Protocol team reserves the right to change the terms & conditions of this event at its sole discretion.
Engaging in botting activities, cheating, or submitting duplicate entries will lead to disqualification from this event.
ApeX Pro reserves the right to the final interpretation of this event. If you have any questions, please contact us via the ApeX Pro Discord channel.