Full speed ahead! Phemex Trader’s Arena starts on March 24, 2021, and the prize pool can go up to $2,000,000uite the big opportunity in the midst of the crypto bull run.
Ups and downs, dips and new all-time-highsthat’s what Bitcoin is all about lately, and that’s good. What’s even better in this adventurous market is that the crypto trading competitions come at the right time to get more funds and invest in the crypto assets.
The Phemex crypto exchange platform is organizing a new edition of Trader’s Arena, and teams from all over the world can compete to win amazing prizes.
As mentioned before, Phemex is an exchange for cryptocurrency assets. Besides crypto assets, the platform also incorporates futures trading and is currently one of the fastest trading platforms out there.
The platform was founded by Jack Tao and other professional Wall Street traders and investors after realizing the lack of professionalism, trustworthiness and customer support within the crypto industry. Therefore, the founding team built Phemex as a simple, efficient and most importantly, trusted cryptocurrency trading platform that anyone can use.
In terms of speed, Phemex manages to offer an order response time of less than 1 Ms while executing over 300K orders per second.
Phemex integrates over 30 liquidity providers and has an average trading volume of $574,000,000.
The crews of Trader’s Arena
Phemex Trader’s Arena is a BTC trading competition in which teams of traders will compete against each other to rank as high as possible on the Arena’s leaderboard.
Captains have to find the best traders they know and coordinate them to get the best returns on investment. They need at least 10 members to form a crew, and if the group has fewer than 10 by the time the competition starts, the team will be disbanded and the members reassigned.
The competition starts on March 24, 2021, and the participants began signing up for the event on April 10, 2020.
The registration process lasts only until March 23, 2021. Time is precious, and communication is essential. Anyone with a BTC trading account net value of at least 0.005 BTC can jump in for a chance at winning a consistent price.
The captains will be responsible for rounding up their teammates and motivating them to do their best in trading. And although the team ranking will be decided based on the top 10 team members’ ROI, it doesn’t mean other members can just sit around (if the team is greater than 10). Accounts with transaction volumes below 500 USD during the competition period will not be eligible to receive any awards, so everyone has to put in the work.
What are the Arena’s prizes?
The pool prize will reach $2,000,000 as soon as the event registers 18,000 participants. However, if the competition has fewer registrations, the Trader’s Arena will still be held but the prize pool will be lower.
- Under 500 traders $10,000 prize pool
- 500 – 999 traders $25,000 prize pool
- 1,000 – 1,999 traders $75,000 prize pool
- 2,000 – 3,999 traders $150,000 prize pool
- 4,000 – 5,999 traders $400,000 prize pool
- 6,000 – 7,999 traders $600,000 prize pool
- 8,000 – 9,999 traders $1,000,000 prize pool
- 10,000 – 14,999 traders $1,250,000 prize pool
- 15,000 – 17,999 traders $1,875,000 prize pool
- 18,000 – 20,000 traders $2,000,000 prize pool
You can check the exact live number of participants and the prize pool on Phemex’s crypto trading competition page.
You can play the game with a spec ops team of 10 members, or you can raise a huge army to conquer the game. Your choice. But it’s vital to notice that the number of participants will increase the final awards’ value. Hence, encourage your people to expand the team so the prize pool goes to its max.
As for the team awards allocation, team 1 gets 25% of the total prize pool, team 2 receives 15% of the prize pool and team 3 receives 8% of the prize pool. Also, teams 4-10 will share 30% of the prize pool as a reward.
But if you add up the number above, there is still 22% remaining. That goes to individual traders. Besides team awards, there are separate awards for the heavy lifters as well. The top 10 traders will receive the remaining sum of the prize pool as follows.
- First place receives 8%
- Second place receives 5%
- Third place receives 2%
- Traders in fourth to tenth places will share the remaining 7%
The opportunities are big, and the prizes are even bigger. Form the best team and win the most in this bull run.