Join Elite Trading Team Contest Grab a Share of 150,000 USDT

1. Introduction

1) Schedule:
a. Leaders recruitment: 10:00 May 15 - 10:00 May 22, 2020 (UTC)
b. Team formation: 10:00 May 22 - 10:00 May 29, 2020 (UTC)
c. Trading contest: 10:00 May 29 - 10:00 Jun 12, 2020 (UTC)

Note: Leaders can continue to recruit team members during the contest period.

2) Outstanding traders will be selected as leaders to form their own teams and lead their team members to win.

3) We 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.

4) Details:

2. Leaders Recruitment Details

1) Users can apply to become leaders by completing the application form online.
2) We will screen and verify users’ information and select the best traders to become leaders.
3) Leaders need to recruit team members and guide them to analyze market data and perform trading during the contest.
4) Leaders of winning teams can receive more ranking rewards and enjoy exclusive marketing opportunities.

3. Team Formation Details

1) Selected leaders can form their own teams by recruiting team members. There is no limit on the number of members in each team.
2) Users can join their favorite teams on the team formation page, but they cannot change teams after joining.
3) Users can join an open team or a closed team. Users should get invitation codes from leaders before joining closed teams.
4) Leaders can contact OKX’s customer support to change team status, including opening or closing member recruitment.

4. Contest Details

1) We will select the winning teams and participants by their trading yield. Calculation as follows:

A. Individual member’s yield =  (settlement account balance - initial amount - transfer in amount + transfer out amount) / (initial amount + transfer in amount)

B. Team yield = (all positive profit of the team / total team deposit) * team coefficient

All positive profit of the team=∑(Positive profit of the team members),

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– initial account equity – funds transferred to perpetual swap, futures, options and spot/margin accounts + funds withdrawn from those accounts)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, we 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.

C. 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.

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.

2) 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.

5. 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:

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.

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.

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.

6. 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 OKX. OKX 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, Sudan, Syria, Malaysia, China, 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.

*In case of any dispute, OKX reserves the right of final decision.