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CBBC Competition is Underway: Earn 20 USDT Daily To Win A Prize

2020-11-27 17:35:48Read:14975

The 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 via 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 the 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 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.
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 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.
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


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.



Gate.io Team
November 27, 2020


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