When CEX.IO launched in 2013, the world was just waking up to the potential of crypto and blockchain technology. But now as we look back on 9 years of growth, change, and innovation, we want to give something back to the community that supported us on this evolving journey.
That’s why, in lieu of presents and a party, we’re electing to throw a special birthday Trading Competition with a $9,999 prize pool to commemorate another year in the ecosystem. Whether you’re a dedicated day trader or only partake in the occasional swap, now is the time to take your transactions to the next level.
Starting July 7, any trades you make between then and July 20 will accrue points toward your chance at winning anywhere from $50 to $3,000. Please note that for your trades to be considered for the competition, you must register ahead of time and follow the instructions below.
Here’s how it works:
- Register for the competition here.
- Choose a Nickname.
- Start trading – any trades executed between July 7 and July 20, 2022 will accumulate points.
- The participants with the highest scores will be eligible for rewards starting from $3,000.
- Only orders placed and filled during the Trading Competition period (July 7 – July 20, 2022) will be calculated toward the final totals.
- Track the top competitors on our landing page
- Winners will be announced on our social media pages and Telegram by August 1, 2022.
Participants will be divided into groups based on cumulative point totals. Group 1 will consist of three traders with the highest total points and rewards:
- First place – $3,000
- Second place – $2,000
- Third place – $1,000
All other groups (starting with Group 2) will consist of ten traders. We will award the following prizes to the best trader in each group:
- Group 2 – $500
- Group 3 – $450
- Group 4 – $400
- Group 5 – $350
- Group 6 – $300
- Group 7 – $250
- Group 8 – $200
- Group 9 – $150
- Group 10 – $100
To make the competition a little more interesting for everyone, we’ll reward random participants with the prizes listed below:
- 1 participant – $500
- 3 participants – $100
- 10 participants – $50
What do these groups mean?
We decided to divide participants into groups to create more chances to win. Aside from the prizes for the first, second, and third place finishers in Group 1, we’ll award prizes to the top traders in each of the other groups (first place in Group 2, first place in Group 3, and so on).
We’ll form the groups depending on the total points earned by each participant.
The participant with the highest number of points will win the top prize.
The top traders in Groups 2 through 10 will still be eligible to win the prizes listed in the chart above.
How do I collect points?
Once you’ve registered for the competition, it’s time to start trading.
Every day, you’ll earn points for your activity and progress. We’ll show daily and cumulative points for all participants on the leaderboard. Here are the activities we’ll track:
- Turnover rate
- Number of transactions
- Turnover growth compared to the previous day
- Number of markets traded
You’ll be able to see your points and positions on both the Daily and Cumulative Rankings tabs:
How do you calculate points?
Let’s look at some examples of how we’ll tally your points.
Let’s say on the first day of the Trading Competition, all participants generated some trading volume and activity. You made a $100 turnover yesterday. Today, you made a $200 turnover. Your total turnover is $300. Your average daily turnover is $150.
Your growth is:
$200-$150/$150*100% = 33%.
The maximum number of points per activity is 40. So the best trader earns 40, the next trader – 39, then 38, and so on. The 40th trader receives 1 point, the 41st gets 0.50 points (½). The 42nd — 0.33 points (⅓), and so on.
Number of markets
Let’s say you traded 20 pairs. By this parameter, you are in third place and according to the breakdown above, you will receive 38 points.
It works the same way for trading volume and the number of transactions. But the leaders in this category might be different participants.
To receive the total sum of your daily points, just add the points for all five parameters together.
Trading volume points + number of transaction + turnover rate + number of markets traded = total daily points
For example, let’s say that on day 1 you earned 33 points for volume, 34 points for trades, 40 points for turnover rate, and 38 points for the number of the markets traded.
Your total daily points are: 33 + 34 + 40 + 38 = 145 out of a possible 160.
On day 2, you got 27 points for volume, 29 points for trades, 31 points for turnover rate, and 19 points for the number of the markets traded.
You received 106 points for the day.
Your total cumulative points after two competition days will be the sum of the points for day 1 and day 2: 145 + 106 = 251.
[Total daily points on Day 1] + [Total daily points on Day 2] +…+ [Total daily points on Day 14] =
Total cumulative points
Every trading day, you start with 0 points. If you don’t trade on a day, you end up with 0 points, and your total ranking on the Leaderboard will most likely be lower at the end of that day.
So trade consistently to move up on the Leaderboard and win prizes!
If you want to get the most out of this competition, visit CEX.IO University and brush up on some helpful trading tips, or visit our blog to catch up on the latest news and happenings from around the ecosystem.
Remember, get your trades in by July 20, 2022 to maximize your eligibility. Good luck and happy trading.