first Callable Bull/Bear Contract (CBBC) of Gate.io’s trading
competition is in full swing. From this day on (Nov 27, 9:00 UTC),
any trader who has enabled a daily earning of 20 USDT or above has a
chance to win.
Join Gate.io’s Callable bull/bear
contract for real trading today
November 23rd 9:00 – December 5th 9:00 UTC (12 days
in total). Competition and ranking is on a daily basis.
Daily Reward For Top Traders:
2nd Prize: 280 GT
3rd Prize: 100 GT
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 the next day)
1) Conducting any
callable bull/bear contracts trading during the competition period
will be deemed as “participating in the competition”.
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 20 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.
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
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 20
USDT or above has the chance to win a lucky prize.
3) The prize
winning accounts on daily competition have double odds of winning.
Each eligible user can claim one lucky reward only during the entire
5) The lucky reward winning accounts will be
announced along with the top traders wining accounts on our
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.
total investment =Initial account holdings (including unrealized
PNL)+ Funds transferred in during the competition period
Gate.io has the right to disqualify any account that is cheating, by
either pumping profits into one account, or manipulating the market
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
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
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
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.
characteristics of the CBBC:
to trade. You can simply buy and sell a CBBC like you are buying or
selling an asset in the spot market.
leveraged: The CBBC leverage can be as high as 100x or 200X, in
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.
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
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
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
Read the following articles to Learn more
about the CBBCs at our help
Gate.io is an established exchange that holds integrity, transparency, and fairness to a very high standard. We charge zero listing fees and only choose quality and promising projects. Our exchange consists only of 100% real trading volume. Thanks to everyone who has joined us in our journey. We always intend to improve and innovate to reward our users for their continuous support.
November 27, 2020
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