The
first Callable Bull/Bear Contract (CBBC) of Gate.io’s trading
competition is in full swing, with a total prize of 20,000GT and a
total of 30 winners per day. We welcome new players to participate in
the competition and attempt first place. In addition, a 1200GT Lucky
Prize has been set up, and new interests’ competitions are waiting
for you to fight!
Characterized by a low commission rate,
Gate.io’s CBBCs (recyclable contracts) are simple to operate in the
spot market and have the ability to apply leverage effects at the
same time. At present, the transaction fee rate of the CBBC confirmed
order is the same as the spot price with a basic fee rate of 0.2%.
VIP stacking discounts or point card deductions are available (point
card deductions do not stack VIP discounts). GT deductions are
currently not permitted.
Trade
CBBC To Win Free $ 10 Gate.io Points Activity is underway.
Join Gate.io’s Callable bull/bear contract for real trading today
in order to receive $10worth of POINTs (with at least one
transaction).
CBBC real trading participant
website: https://www.gate.io/cbbc
Competition
Duration
November 23rd 9:00 – December 5th 9:00 UTC
(12 days in total). Competition and ranking is on a daily
basis.
Reward & Distribution
Daily
Reward For Top Traders:
1st Prize: 380 GT
2nd Prize: 280
GT
3rd Prize: 100 GT
4th -30th Prizes: 28 GT
Daily
Lucky Prize: 100GT
After 9:00 UTC every day, awards will
be uated according to the games’ statistics of the past 24 hours
(The reward will be credited to the winning accounts on next day)
Rules
1) Conducting any callable
bull/bear contracts trading during the competition period will be
deemed as “participating in the competition”.
2) Each day
after 9:00 UTC, we will calculate the competition results of the past
24 hours.
3) No extra limit with regard to the funds that you
deposit, nor the leverage ratio you can apply. To win a prize, the
minimum daily earning should be 100 USDT at least. The Top 3 traders
by ROI (earnings/total investment) will be awarded 380 GT, 280 GT and
100 GT respectively, 4th-30th 28 GT each.
4) Each account must
place at least 1 order and 60 orders at most in a daily competition;
orders that are placed and cancelled without any portion filled are
not eligible.
About Lucky Prizes
1)
One lucky user will be randomly selected on a daily basis to win the
lucky prize of 100 GT.
2) Any trader conducting a trade during
the competition period and in doing so, has a daily earning of 100
USDT or above has the chance to win a lucky prize.
3) The prize
winning accounts on daily competition have double odds of winning.
4)
Each eligible user can claim one lucky reward only during the entire
competition period.
5) The lucky reward winning accounts will be
announced along with the top traders wining accounts on our
announcement.
Important Notice:
1)
We calculate the cumulative earnings of the following callable
bull/bear contracts: ETH callable bull contract, ETH callable bear
contract, BTC callable bull/bear contract, BTC callable bear
contract. Earning includes unrealized PNL, realized PNL, and trading
fees.
2) The total investment =Initial account holdings
(including unrealized PNL)+ Funds transferred in during the
competition period
3) Gate.io has the right to disqualify any
account that is cheating, by either pumping profits into one account,
or manipulating the market price, etc.
4) If you are new to
callable bull/bear contract, we highly recommend that you practice
your skill on your demo account, risk free at https://www.gate.io/testnet/cbbc
Risk warning: callable bull/bear contract can be
called back, please exercise caution. 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 this activity
About Callable
Bull/Bear Contract (CBBC)
The CBBC has two types of contracts, a
callable bull contract, and a callable bear contract. If an investor
anticipates an upward movement of the underlying asset, he/she can
purchase a callable bull contract; if an investor anticipates a
downward movement of the underlying asset, he/she can purchase a
callable bear contract. Without considering other factors, if the
underlying asset’s price rises, the bull contract will generally
rise in value while the bear contract decrease in value; if the
underlying asset’s price decreases, the bear contract will
generally rise in value while the bull contract decrease in value.
The strike price, call level and expiry date are fixed upon the
issuing of a CBBC. When the underlying asset’s spot price hits the
call level, the CBBC will be called and trading will be terminated
immediately.
The CBBC is essentially a special kind
of option. For a callable bull contract, the intrinsic value is the
underlying asset’s spot price minus the strike price; for a
callable bear contract, the intrinsic value is the strike price minus
underlying asset’s spot price. At Gate.io, the CBBC expiration date
uses Hong Kong Time. When a CBBC expires, it will be settled. The
settlement is the difference between underlying asset price and the
strike price, divided by the entitlement. The maximum loss is limited
to the investor’s entire investment capital.
The
characteristics of the CBBC:
1) Easy
to trade. You can simply buy and sell a CBBC like you are buying or
selling an asset in the spot market.
2) Highly
leveraged: The CBBC leverage can be as high as 100x or 200X, in
certain cases.
3) Lower
trading fee: The CBBC trading fee is lower compared to a perpetual
contract as it is charged based on the investment capital,
irrespective of the leverage.
4) Callback:
The CBBC can be called back. When it is called, the investor only
receives a residual value if there is any. To calculate the residual
value, the lowest price observed during an observation period for
bull contract and the highest for a bear contract, instead of the
call level, is used.
The CBBC VS Leveraged ETF
1)
The CBBC, in general, has higher leverage;
2) The CBBC does not
incur any management fee.
3) The CBBC doesn’t have a
re-balancing mechanism, therefore would not incur frictions caused by
rebalancing. But the CBBC has a callback mechanism. Once it is
called, the investor may lose a significant part, even all of his/her
investment capital.
Please note:the CBBC’s
leverage may change all the time as the market price of the
underlying asset changes. In the event of a mandatory call, CBBC will
be called and the investor may lose a significant part, even all of
his/her investment capital. Please beware of the risks involved.
Read the following articles to Learn more about the CBBCs
at our help
center.
https://www.gate.io/en/help/trade/cbbc/18349
https://www.gate.io/en/article/18283