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Dear BingX Users：
The BingX Xmas Elite Team Trading Contest will take place from Dec. 21 00:00 to Dec. 31 23:59 (GMT+8). During the event, users can sign up to join a KOL team as team members, and trade together to contribute to the team rankings for shares of 400,000 USDT prize!
1. Schedule
A. Time for Leader Recruitment
00:00 Dec 21 – 23:59 Dec 24 (UTC+8)
B. Time for Recruitment of Team Members
00:00 Dec 21 – 23:59 Dec 30 (UTC+8)
C. Contest Period
00:00 Dec 24 – 23:59 Dec 31 (UTC+8)
2. Event Rules
A. Total Prize Pool
The BingX Xmas Elite Team Trading Contest, with amazing prizes of up to 400,000 USDT prize pool!
|
Participants |
3,000 |
6,000 |
9,000 |
12,000 |
15,000 |
18,000 |
25,000 |
40,000+ |
|
Total Prize Pool (USDT) |
10,000 |
20,000 |
30,000 |
40,000 |
50,000 |
100,000 |
200,000 |
400,000 |
B. Reward Rules
1. Team Rewards
Teams are ranked by total profit ratio in the contest.
Total Profit Ratio = Sum (The Team Members’ Profit Ratio).
|
Prize Pool Share (USDT) |
|
|
Ranking |
Reward |
|
1 |
30% |
|
2 |
20% |
|
3 |
10% |
|
4 - 10 |
Share the Rest 40% Equally |
2. Member Rewards within Each Team
a. During the contest period, team members whose trading volume reaches 40,000 USDT (leverage included) will share the ranking rewards of their teams while members with negative profit ratios will not join the prize pool share.
b. Team members who meet the conditions of prize pool sharing will split the team rewards according to the ratio of their positive profit ratio to the sum of the team members' positive profit ratio.
3. The contest is ranked based on the profit ratio.
1. Profit Ratio of Each Member = [Net Asset Value at Settlement - Bonus Incomes - ( Initial Net Asset Value + “Transfer-In” Value) + “Transfer-Out” Value] / (Initial Net Asset Value + “Transfer-In” Value)
2. Initial Net Asset Value: Net Asset Value at the beginning of the Contest Period (Unrealized P&L included)
3. Net Asset Value at Settlement: Net Asset Value at the End of Contest Period (Unrealized P&L included)
4. Cumulative Profit Ratio of Each Team = Sum (The Team Members’ Profit Ratio)
5. Trading in this competition is limited to the USDT asset in the Standard Contract Account.
(BingX reserves the right of final interpretation of this event. If cheating, trading in both directions simultaneously, high-frequency trading, using multiple accounts, etc. are detected, the corresponding contest qualifications will be removed.)
4. Event Description
A. Team Creation Rules
1. During the team leader recruitment period, BingX will send targeted invitations to well-known KOLs globally for them to create their own trading team. BingX users can also apply to join the contest as a team leader after filling in the Team Leader Application Form and submitting it.
2. Users should contact leaders to join their closed team via invitation codes, but they can join open teams freely.
3. The number of team members needs to be at least 5 for successful entry into the contest as a team.
4. The team leader can continue to invite new members after the contest starts; new members can join the contest when their assets meet the conditions.
5. Apply to create a team：https://docs.google.com/forms/d/1DdhSbxwaEJLGssM3TaUfBn_tbO21eAlzcRNKxETC0xM/edit
B. Team Enrollment Rules
1. Each participant has to upgrade his/her contract trading account to join a team and can only join 1 team.
2. Only users with account balance ≥ 100 USDT can join the contest.
3. A 20 USDT (10x) bonus will be issued to accounts of members with a valid entry into the contest at the end of the event.
4. Only members with trading volume ≥ 40,000 USDT (leverage included) and positive profit ratios can join the prize pool share during the contest.
C. Reward Distribution
1. The rankings will be displayed at the campaign page so users can check the list themselves.
2. The rewards will be distributed within 7 working days after the results of the contest are announced.
3. Users who win the reward are required to complete KYC authentication within 7 working days after the contest, otherwise they are deemed to have waived the reward.
4. The validity period of the bonus issued for the event registration is 3 days, which will be distributed to valid members after the event.
5. FAQs
Q: How to join the contest?
A: You can join the contest after clicking “Join Now” on the event page.
Q: Can I change my team?
A: Before the contest period, users can change teams by themselves. Users will not be able to change teams after the contest starts.
Q: When will my reward be distributed?
A: Your reward will be distributed to your account on BingX within 7 working days after the results of the contest are announced. You can directly withdraw it from your account.
Risk Warning:
Digital asset derivatives trading is highly leveraged and risky, and may result in partial or total loss of account funds. Before participating in contract trading, investors must ensure that they understand the nature and rules of contract trading, and decide whether participating in contract trading is profitable. Investors should base their decision on their investment experience, goals, financial status, and ability to bear risks.
BingX Operation Team
2020/12/17
