Announcing an MVP trading challenge designed for the MVPs on ApeX Pro — from March 1, 2023 to April 3, 2023, buckle up and get ready for the MVP Traders League, a decentralized trading contest like no other.
💰 Before we get to the details, here's a sneak peek at the golden pot of rewards:
Up to 100,000 USDC in the main prize pool: The more participants join the MVP Traders League, the bigger the prize pool will be
5,000 USDC in a side prize pool: 50% of qualified participants (excluding winners of the first prize pool) will be randomly selected to receive an equal share of this prize pool
Varied limited time fee rebate perks: Snag one of these fee rebate perks and get up to 20 days' worth of trading fees returned to you in USDC when you trade
Sign Up for the MVP Traders League
Don't miss out on the open registration period from March 1, 2023, 9AM UTC to March 31, 2023, 8:59AM UTC — you must successfully sign up during this period to participate in the trading competition starting on March 20, 2023, 12PM (noon) UTC.
Make sure that there is a minimum of 1,000 USDC worth in total equity in your ApeX Pro account before you sign up! Only traders who meet this requirement will be able to participate.
If you do not meet the total equity requirements, simply make a quick deposit from your wallet to your ApeX Pro account. Learn how to make a deposit in our tutorial video.
The more participants the event accummulates, the bigger the main prize pool. As long as more than 700 participants successfully sign up for the MVP Traders League, the 100,000 USDC prize pool will be unlocked!
An additional side prize pool of 5,000 USDC is also available, and will be equally distributed to half of all qualified participants, randomly selected, for the event accordingly.
*Qualified participants refer to participants who have registered for the MVP Traders League and reached the minimum required trading volume of 100,000 USDC.
Emerge as Champions: Share in the Prize Pool & Fee Rebate Perks
From March 20, 2023, 12PM (noon) UTC to April 3, 2023, 11:59AM UTC, trade your way to top in rankings! To be eligible for rewards during the competition:
Trade on any available USDC contracts on ApeX Pro (or all of them!)
Reach a cumulative trading volume of minimum 100,000 USDC
Participants will be ranked according to their individual P&L(%) generated throughout the competition period. If two (2) or more participants have the same P&L(%), the participant with the higher trading volume will be ranked higher.
Rewards will be credited to the top-ranking winners, and the total unlocked rewards in both the main and side prize pools will be based on the total number of qualified participants.
The top 10 winners will split a cut of the respective prize pool tier, and the top 30 winners will also enjoy limited-time fee rebate perks to be used on their future derivatives trades on ApeX Pro.
Moreover, 50% of all qualified participants excluding the top 10 winners will be randomly selected to equally share in the side prize pool.
*Please note that fee rebates will be covered for trading fees paid for closing positions. Traders will still have to cover the trading fees paid for opening positions and more, check out the full terms and conditions in the last section of this post.
🏁 Sign up today and race for the peak in the MVP Traders League. You won't want to miss out on the chance to win up to 100,000 USDC plus fee rebates!
P&L(%) Calculations
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 & Conditions:
Users must sign up during the registration period to be eligible to participate in the MVP Traders League.
Users are eligible to register for the MVP Traders League if their total equity is greater than 1,000 USDC. Total Equity includes maintenance margin, position margin and available wallet balance. Assets involved in Trade-to-Earn and staking are not counted.
Prize pool tiers are unlocked based on the number of participants who sign up for the event.
Participants' trades recorded on ApeX Pro under the event will be strictly reviewed to prevent Sybil attacks. Participants may be disqualified of any of the following trading behaviors are detected, including but not limited to batch registration of accounts, self-buying and selling, and other cheating behaviors.
Tabulation of trading data from the competition will be completed within seven (7) working days after the event's end date. Winners will be announced after and will need to claim their USDC reward within 14 days after the announcement, failing which the participant will no longer be able to claim their rewards.
Trading fee rebates will be claimable and can be applied on your derivatives trades on ApeX Pro during the perk's stated validity period. Fee rebates will only be applied on closing positions, i.e. winners of this perk will still have to pay the trading fees for opening positions. If the participant is paired with either an Affiliate or a Referrer, the commission paid will be deducted from the participants' total rebates amount. Allocations to the BBP and staking will also be deducted.
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.
Please check our event page for the full list of terms and conditions.