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Announcements 2022 WCTC S2 World Crypto Trading Competition Has Started
2022 WCTC S2 World Crypto Trading Competition Has Started
2022-08-02 01:36:57 UTC 61134 Read
To reciprocate users' support for Gate.io Futures, as well as to respond to many users' wishes to participate in a large-scale competition recently, Gate.io announces the start of 2022 WCTC S2. This season's competition includes team competition, individual competition, and record-breaking competition with a holistic prize pool containing up to 5 million dollars. We invite worldwide futures traders to compete for the trading championship and win your prize!

I. Duration
1. Reservation Stage: 2022-08-02 00:00 to 2022-08-15 23:59 (UTC)
2. Early Bird Registration: 2022-08-16 00:00 to 2022-08-18 23:59 (UTC)
3. Official Registration: 2022-08-19 00:00 to 2022-09-12 23:59 (UTC)
4. Official Competition: 2022-08-26 00:00 to 2022-09-15 23:59 (UTC)

II. Eligibility
Total assets in spot and contract accounts ≥ $200. Users can choose to take part in team competition, individual competition, or form a team (become a team captain). The minimum number of team members for the team competition is ≥ 5.
Reservation/Registration: https://www.gate.io/competition/wctc#/home

III. Participation Market
All Trading Pairs of USDT-Margin Perpetual Contract

IV. Competition Prize Pool
During the competition, the prize pool will be expanded based on the number of participants. The more users participating in the competition, the higher the total prize pool will be. The prize for team competition and individual competition will be split 80% and 20% of the total prize pool. We will rank the sequence results according to the profit, profit rate and trading volume, and the final prize pool will be determined by the valid trading users.


V. Event Benefits
Event 1: $60,000 Point for Early Bird Registration
During the early bird registration: 2022-08-16 00:00 to 2022-08-18 23:59 (UTC), new futures users will receive a $50 point and existing users receive a $20 point.

Event 2: Invite Friends to Get Double Earnings
During the individual competition, the top 20 inviters who invite the most new users will get the double earning cards, and their earnings will be doubled up to $1,000! (Only newly registered invitees who participate in the competition are eligible)

Event 3: $20 Extra Point for Successfully Joining a Team (Team Member)
Before the official registration ends, the first 5 members will receive an additional $20 point for joining a team. (if the team is disbanded, the members will not receive this bonus)

Event 4: Star Captain Award, up to 4,000 USDT
When the number of star members reaches a certain scale, the team captain will receive an additional USDT reward, up to a maximum of 4,000 USDT. The details are as follows:


Event 5: Limited Edition NFT Rewards
During the competition, users who reach 100,000 USDT in cumulative futures trading volume first will randomly receive MAYC fractional NFTs or a limited-edition NFT, with a total of 2,000.

Event 6: Lucky Draw, 100% Winning
During the competition, all valid trading users who participate (either in the team competition or the individual competition) will receive 1 lucky draw opportunity for every 20,000 USDT increase in cumulative futures trading volume, with a maximum of 10 lucky draw opportunities per person.

VI. Competition Rules
Competition 1: Teams can share 80% of the total prize pool according to the ranking, up to $4,000,000 to be shared.
(a) During the competition, the teams are ranked according to the profit and trading volume respectively in participating teams. Among them, those profit rankings account for 80% of the team competition prize pool, and those trading volume rankings account for 20% of the team competition prize pool. The detailed reward rules of the team competition are as follows:


Note:
1. Team profit = the sum of all profit within the team. Profit <0 and cumulative trading volume < 3,000 USDT during the competition will not participate in the ranking.
2. Team trading volume = the sum of trading volume within the team. The cumulative trading volume < 3,000 USDT during the competition will not participate in the ranking.
(b) During the competition, those who get team competition rewards ranked according to the amount of profit and trading volume will be distributed within the team according to the following rules:


Competition 2: Individual competition rewards account for 20% of the total prize pool, with a maximum share up to $1,000,000.
During the competition, users who participate in the individual competition will be ranked according to profit rate and trading volume respectively. Among them, those profit rate rankings account for 50% of the individual competition prize pool, and those trading volume rankings account for 50% of the individual competition prize pool. The details are as follows:


Notes:
1. To participate in the individual competition profit rate ranking, the cumulative trading volume needs to be ≥ 30,000 USDT and the profit rate > 0 during the competition.
2. To participate in the individual competition trading volume ranking, the cumulative trading volume needs to be ≥ 3,000 USDT during the competition.
3. In profit rate ranking, traders need to open at least 10 valid positions (valid open position refers to position with an open and closed time gap more than 5 minutes for a single transaction).

Competition 3: Record-breaking prize, the team that breaks the team record and the individual that breaks the individual record will split $6,666.
(a) At the end of the competition, all teams that break the 2022 WCTC S1 team trading volume record will share $5,000 prize pool equally and have a chance to win an exclusive NFT. The winning team in the record-breaking competition will have its awards distributed within the team according to the following rules:


Notes:
1. Only members who join the team before the start of the official competition are eligible to receive this reward.
2. Please go to the main page of the competition to check the 2022 WCTC S1 team and individual trading volume records.
3. To receive the reward, the user's cumulative trading volume needs to be ≥ 3,000 USDT during the competition.
(b) All users who break the 2022 WCTC S1 individual trading volume record will share $1,666 prize pool equally ($1,000 point + $666 contract bonus).

VII. Competition Description
1. Before the official registration ends, users still have the opportunity to choose to join the team competition, go to form a team or join another team.
2. If the number of team members is still less than 5 before the end of the official registration, the team captain can disband the team, and team members can choose to join other teams or participate in the individual competition. If the number of team members is less than five after the end of official registration, and the team captain has not disbanded the team, the system will automatically disband the team, and the team members can join other teams by themselves within 24 hours after the disbanding. If a team member does not join another team within 24 hours after disbanding, the system will randomly assign him/her to another team.
3. The formula for calculating the profit= [Final net assets of the contract account(including unrealized PnL and/or contract bonus) - initial contract account net assets (including unrealized PnL and/or contract bonus) + withdrawals of contract account - deposit of contract account]
4. The formula for calculating the profit rate = [The net value of the contract account at the end of the competition (including unrealized profit and loss and/or contract bonus) - initial contract account net assets (including the unrealized profit and loss and/or contract bonus) + the amount of contract account deposit during the competition - the amount of contract account withdrawal during the competition] / [Initial contract account net assets + contract account deposit during the competition]*100%
5. Trading volume calculation = Open position + Closed position (During the competition)
6. The winner(team and individual) must meet the requirements of futures trading volume ≥ 3,000 USDT during the competition. Early bird bonus will be issued within 5 days after the end of early bird registration.
7. For the team that has won the rewards of the team competition, the team captain will not repeatedly participate in the reward distribution among the team members when the internal rewards are distributed. Minimum 5 members and no limit for max members.
8. During the competition, once the user registers for the team competition, it cannot be changed, and the rewards of the individual competition and the team competition cannot be obtained at the same time. In the team competition, the ranking by profit and trading volume, as well as the ranking by profit rate and trading volume in the individual competition. The rewards in these two types of competitions can be obtained at the same time without affecting each other.
9. KYC is needed to participate in the competition. Participants can only participate in this competition with one account, and the sub-account doesn't count.
10. To maintain the fairness of the competition, this competition will not be open for users of VIP11 and above as well as API traders. We will prepare a special competition for these users soon, stay tuned.
11. The final prize pool is determined by the number of valid traders, the number of valid traders = the number of participants registered in the competition - the number of users who have not opened positions during the competition - the number of users determined by the risk control system as a user who violated the event rules (including but not limited to batch registration of inflated prize pools, matching transaction, self-dealing, etc.)
12. During the competition, the team captain can invite new users via invitation link to register and join the team. Up to 50% long-term commissions and $600/month base salary by inviting your friends.
13. What is the perpetual contract bonus of Gate.io?
Gate.io perpetual contract bonus can be used as margin and deduct losses, trade fees and funding fee. Gate.io perpetual contract bonus are designed to facilitate new and existing users to experience the function of contract products without risk in real contract trading.
14. The market analysis provided by any team captain does not represent the official opinion of Gate.io. Gate.io does not assume any responsibility for any transaction loss suffered by any team member.
Risk warning: crypto-currency trading is affected by many factors such as market fluctuations and policies. The market fluctuates greatly and it is difficult to predict. Please make sure to pay attention to market risks and trade with caution.

VIII. Notice
1. Gate.io reserves the right to disqualify users from participating in the competition due to the following circumstances, including but not limited to: cheating, registering users in batches, self-dealing, market manipulation, etc.
2. The qualification will be canceled and even the account banned if any user is detected swiping point and contract bonus.
3. Gate.io reserves the right of final interpretation of the terms and conditions of this competition.



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Gate.io Team
Aug 2nd, 2022
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