Phemex, one of the most efficient crypto trading platforms, is bringing another grand trading competition to users.The Phemex Trading Rebate Rewards event comes with a massive prize pool. You are invited to join the event to claim your slice of a whopping $2 million prize supply.
The competition lasts four weeks, and you can register to join ahead of time to participate in the weekly missions where you can complete to double, triple, or even 5X your potential rewards.
Rules of participation
Phemex is always hosting exciting events for the users with generous prize pools. This time, Phemex has prepared a $2 million reward supply for the Trading Rebate Rewards event. You can enhance your share of the final bonus by trading any of Phemex's supported contract pairs after you join.
How can you participate?
First, you must register for Phemex to create an account if you do not have one already. Once you have registered on the Phemex Platform, you can join the competition by clicking through the event page. During the competition period, engage in contract trading to stack up your Personal Score and accumulate more rewards. All contract trading pairs supported on Phemex at the start of the competition period will count towards your final rewards.
The competition period is four weeks in total. Each week will feature one new mission, which you can also complete to boost your final rewards. Available missions can be found on the event page and can be completed anytime during the competition period. They do not necessarily need to be done the specific week they are revealed.
After the competition period ends, each participant will win a share of a $2 million total prize pool based on their contract trading activity and missions completed.
When will it all happen?
The registration will take place between March 17 to March 24, 2022. In this period, the event is not officially started but users can join through the event page.
The main competition is between March 24 to April 21, 2022. In the competition there will be weekly missions and contract trading that will add on the Personal Score. Users can still join anytime during this period; it doesn't matter that the competition started already.
The winners will be announced on April 26, 2022, and the Distribution of Rewards will be from May 3, 2022.
Prize Pools - till $2 million USDT
After the Trading Rebate Rewards ends, all rewards will be distributed as USDT to the user's Phemex spot wallet. The more contract trading and open contract positions you hold during the competition period, the greater your share of the total $2 million prize pool.
Although, Phemex prepared for each eligible participant a personal reward based on the following formula:
Personal Reward = Total Prize Pool X (Personal Score / Total Score of all users)
And each eligible participant’s Personal Score is calculated based on the following:
Personal Score = (Fees Paid)0.7 * (Average Open Interest)0.3 * Mission Multiplier
Phemex is a financial services provider with principles based on trustworthiness, honesty, and integrity. Led by eight former Morgan Stanley Executives, Phemex aims to build the world's most trustworthy cryptocurrency derivatives trading platform.
Phemex always puts customers first and abides its commitment to deliver the highest level of quality products and services as they continue to grow with their community.
Moreover, they want to develop far more powerful features than any existing exchange. In consequence, their team is directly available and constantly gathering feedback, comments, and requests from their community on social media.
Contact for more details
More details on each component of the prize pools formulas of the Trading Rebate Rewards can be found in the Terms and Conditions section of the Trading Rebate Rewards announcement page or the official Phemex website.