Phemex To Launch its 3rd Edition of the Traders Arena, How to Win Up To $750K

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Leading crypto exchange Phemex will launch a new edition of their Phemex Traders Arena. After a huge success in the previous year, everyone has been invited to join this crypto contract trading competition to have a shot at winning a slice of $750,000 worth of Bitcoin (BTC).

Called the PT Arena 3: Race For Glory, from June 7th to June 20th, participants and their captains will be able to sign up. The competition will take place a day after that, from June 21st to July 4th. The prices will be distributed on July 12th.

As in previous years, the competition will be carried out for the BTC/USD contract pair. Different teams will have to compete for a total of the prize pool. As a requirement, participants must have a Phemex trading account with a minimum of 0.005 BTC upon registration. Once completed, they will receive a $5 trading bonus.

Rewards For The Phemex Traders Arena

For this edition of the PT Arena, the prize pool will depend on the number of participants. The pool increases as more people sign up.

 

Participants Prize Pool (USD)
200-499 3,000
500-999 14,000
1000-1999 43,000
2000-3999 86,000
4000-5999 236,000
6000-7999 354,000
8000-9999 600,000
10000-13999 750,000

In addition, this third edition of PT Arena will include a reward for team captains.

Team Members Rewards for Captain
10 $300
20 $500
30 $700
50 $1,300
100 $2,500
150 $4,000
200 $6,000

Team Prizes

The team rewards will constitute 78% of the total prize pool, with the first place to receive 25%, the second place 15%, the 3rd place 8%, and the 4th to 10th place an equal share of 30% of the total pool.

All valid teams must be comprised of a minimum of 10 members with the possibility of getting disqualified if they don’t meet this requirement by June 21st. For teams with less than 40 members, they will be ranked by looking at their top 10 trader’s average Return on Investment (ROI).

Teams with more than 40 members will be ranked based on their Return on Investment (ROI) for the top 25% of traders in the team.

For winning teams, the team captain receives 40% of the team reward, the top 10 traders get 30%, and the final 30% is shared equally with the rest of the team.

Individual Prizes

Phemex will also give rewards for the best individual traders based on their Profits and Losses (PnL).

The individual awards will represent 22% of the total final prize pool. The first three places will take 8%, 5%, and 2%, respectively.

Finally, everyone will have a chance to earn rewards if they sign up and follow Phemex’s Twitter account.

Join the Race for Glory Now!

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. AllStocksNews.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Stephen Phillips
He is a complete nerd and a graduate of computer science. He talks about cryptocurrency and blockchain.

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