OKEx Trading Team Contest

OKEx Trading Team Contest

    OKEx Launches Team Trading Tournaments. Team leaders must register by May 22. Participants can join by May 29. All users can participate the contest by trading futures, perpetual swap, options and spot/margin product to win the rewards.

    Reward pool
    $150 000
    Expected profit
    from $10
    Max participants
    DropsEarn score
    Medium

  • Activity Type: Trading Contest
  • Date: 29 May 2020 13:00(UTC+3) - 12 Jun 2020 13:00(UTC+3)
  • Registration: Open
  • When reward: Rewards will be distributed within 1 week after the contest ends.
  • Event status: You can participate (Event started, Registration open)
  • Links: Official Event Page
Go to event page

How To Participate:

  1. Log in to your account on OKEx exchange or create a new.
  2. Complete KYC2 verification
  3. Sign up to the event page based on the role in which you want to participate.

Event schedule:

  • Leaders recruitment: 10:00 May 15 - 10:00 May 22, 2020 (UTC) 
  • Team formation: 10:00 May 22 - 10:00 May 29, 2020 (UTC)
  • Trading contest: 10:00 May 29 - 10:00 Jun 12, 2020 (UTC)

Additional Information

  • Note: Leaders can continue to recruit team members during the contest period.
  • Outstanding traders will be selected as leaders to form their own teams and lead their team members to win.
  • OKEx will rank traders by team and individual yield. All users can participate the contest by trading futures, perpetual swap, options and spot/margin product to win the rewards.
  • The popularity reward is set in the competition, and the ranking of popularity will be ranked according to the number of effective traders of the team (traders with more than 10,000 USDT trading volume and KYC2 compeletion are regarded as the effective traders)
  • Reward Details:

Contest Details

  • 1) OKEx will select the winning teams and participants by their trading yield. Calculation as follows:
    a. Individual member’s yield = (account balance – initial account equity – funds transferred to perpetual swap, futures,options,spot or margin contracts accounts + funds withdrawn from those accounts) / (initial account equity + funds transferred to those accounts)
    b.Team yield = (all positive profit of the team / total team deposit) * team coefficient
  • all positive profit of the team=∑(All positive profit of the team),Profit = (account balance – initial account equity – funds transferred to perpetual swap, futures, options and spot/margin accounts + funds withdrawn from those accounts)。
  • total team deposit=∑(total initial account equity of all members + total funds transferred to those accounts)
  • In order to avoid the situation that the number of teams is too large and therefore reduces the team revenue rate, team will use the team coefficient to adjust the revenue rate of the team with a large number of traders.
  • The team coefficient is set according to the number of people who have traded in the team. When the number of the team traders is less than or equal to 30, the team coefficient =1
  • When the number of team traders exceeds 30,Team coefficient = 1 + (number of traders -30) * 0.01, and the team coefficient reaches the upper limit 2 when the number of team traders reaches 130.
  • 2) Initial account equity: If the user joins a team before the start of the contest, his account equity at the start of the contest will be taken as the initial account equity. If the user joins a team after the start of the contest, his account equity when joining his team will be taken as the initial account equity.
  • 3)Scope of calculation: Account balances and transfer and withdrawal amounts in futures, perpetual swap,options,spot and margin contracts accounts of all cryptocurrencies will be covered.
  • Note: Please do not withdraw funds from your perpetual swap, futures,options,spot and margin contracts accounts during the contest period, otherwise your total yield cannot reach the minimum requirement.
  • 4) Details of entry requirements for Team Ranking and Individual Ranking
    a. Team Ranking: 5,000 USDT
  • Only teams whose members have a total account balance > 5,000 USDT in their futures, perpetual swap,options, spot and margin contracts accounts during the contest period can receive Team Ranking rewards.
    b. Individual Ranking: 500 USDT
  • Only participants with a total account balance > 500 USDT in their futures, perpetual swap,options, spot and margin contracts accounts during the contest period can receive Individual Ranking rewards.

Reward Distribution

  • 1) Team Ranking rewards:
    a. Team members have a total account balance ≥ 5,000 USDT in their futures, perpetual swap,options,spot and margin contracts accounts during the contest period.
    b. Team size ≥ 10 members
  • 2) Individual Ranking rewards:
    a. Have a total account balance ≥ 500 USDT in his futures, perpetual swap,options,spot and margin contracts accounts during the contest period.
    b. Users with more than $10,000 accumulated trading volume during the competition
    c. Complete KYC2 verification
  • 3) Team Ranking reward distribution rules:
    a. Teams with 50 members or above: 40% will be allocated to the leaders; members will be ranked according to their individual yield - 40% to the top 20% members, and 20% to the remaining members.
    b. Teams with 20 members or above: 30% will be allocated to the leaders; members will be ranked according to their individual yield - 40% to the top 20% members, and 30% to the remaining members.
    c. Teams with less than 20 members: 20% will be allocated to the leaders, and 80% to the members.
  • Note: Only Users with more than $10,000 accumulated trading volume during the competition and complete KYC2 verification during the contest period can share Team Ranking rewards.

Remarks

  • 1) Malicious trading, the use of multiple accounts, or any other behaviors to gain an unfair advantage will result in the forfeiture of rewards;
  • 2) Rewards will be distributed within 1 week after the contest ends. The actual arrival time of the rewards might differ;
  • 3) Exclusive to master accounts;
  • Note: Any market analysis offered by team leaders do not represent the view of OKEx. OKEx is not liable for any losses of the team members.
  • 4) According to local regulations, users from the following countries/regions are not allowed to join the contest: Cuba, Iran, North Korea, Crimea, China,Sudan, Syria, Malaysia, the United States including all territories such as Puerto Rico, American Samoa, Guam, Northern Mariana Islands, US Virgin Islands (St. Croix, St. John and St. Thomas), Bangladesh, Bolivia, Ecuador and Kyrgyzstan.
  • 5) In case of any dispute, OKEx reserves the right of final decision.