Gate.io announced a Grid Trading Daily Competition on October 28th for team participants. However, users have been expressing their concerns about the complicated rules and difficulties in coordination as a team; they would prefer a competition for individual users. As a result, we have decided to make changes to cater to individual users. The new competition rules will replace the old ones throughout the whole competition duration, including the past daily competition.
How to participate ?
Any user who conducts grid trading on the spot market or futures market will be regarded as taking part in the competition. No need to fill any form.
* Please note, competition ranking is based on the individual account performance. The teams participating in the October 28th-October 29th competition will also be ranked and awarded based on individual account performance according to the new rules.
Rules of Grid Trading Daily Competition For Individual Users
1. Activity Schedule
October 28th 0:00 UTC-- November 07th 0:00 UTC, competition is held and ranked on a daily basis.
2. Rewards
Competition results will be calculated after 0:00 UTC, immediately after each daily competition. Rewards will be credited to the winning account the next day.
Rewards of Daily Competition
1st Place: 100 GT
2nd Place: 50 GT
3rd Place: 25 GT
4th-10th Places: 10 GT
4. Activity Rules
1). Conducting grid trading on the spot market or futures market during the competition period will be regarded as participating in the competition.
2). This competition only considers returns on the following eight pairs: BTC/USDT,ETH/USDT, EOS/USDT, LTC/USDT, BCHSV/USDT, BCH/USDT, XRP/USDT, and GT/USDT.
3). We will calculate the competition results after 0:00, immediately after the end of each day’s competition.
4). During each day’s competition, an account must have a minimum return of 30 USDT to be qualified for the rankings. We will rank all the qualified accounts according to their ROI (the total earnings/ the total investment). The top 3 teams will be awarded with 100 GT, 50 GT and 25 GT respectively, 4th-10th places 10 GT each.
Important Notice :
1)We calculate the total earning of an account in both spot markets and futures markets. Earning includes unrealized PNL, realized PNL and fees
2) The total investment = total amount put in the grid trading (including spot grid trading and the futures )
3) One trader can only use one account to participate in the competition. Gate.io has the right to disqualify any account that is cheating, such as pumping profits into one account, or manipulating the market price, etc.
4) Risk warning: Cryptocurrencies are high-risk, speculative investments, susceptible to impact from market, policy, and other factors. Please be aware of the risks involved and make investment decisions with caution.
Gate.io reserves the final right to interpret the activity.
Gate.io Team
October 30, 2020
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