Gate.io Leveraged ETF Trading Daily Competition: Up To $50k Rewards to be Won
2021-01-22 12:18:38 UTC
Gate.io has launched the daily competition for leveraged ETF trading with $50,000 in rewards. Everyday, we will choose 200 winners ranked by their 24 hours trading volume for the consecutive 7 days. A large number of rewards are for the taking. Join now to claim them!
Jan 22nd, 2021--Jan 29th 2021（7 days in total）
During these ten consecutive days, participants will be ranked on a daily basis.
Contest results of the previous 24 hours will be calculated daily after 10:00 GMT (rewards will be distributed the following day)
*Share the poster (The competition poster will be uploaded to Gate.io announcements soon)
(1) The trading volume is calculated in the following formula:
*(Buy volume + Sell volume) (excluding trading between one individual’s accounts)
(2) To ensure fairness, due to different trading fees among different VIPs, trading volume will eliminate the difference in user fees multiplied by (actual fee/VIP10 fee).
(3) To ensure fairness, due to different trading fees for referral rewards, trading volume will be normalized by the presence or absence of a referrer to eliminate the difference in user fee costs.
Total trading volume is the cumulative volume of all leveraged ETF tokens traded during the contest period
For fairness of the competition, irregular trading, such as profit diversion through other accounts, will be excluded and the eligibility for the prize will be passed on to the next user.
Only KYC users are eligible to participate in this competition. A KYC user can only use one account to participate, and sub-accounts cannot participate in this competition through means of a separate account. Also, sub-account data is included in the total volume of trading.
Risk warning: please note that crypto markets fluctuate, and be cautious before engaging in trading activities.
Introduction of Leveraged ETF
ETF products have their leverage rates adjusted according to the target leverage, based on daily profits and losses. Profit will open positions, and losses will reduce positions. Users do not need to pay margin when trading leveraged products, and only by simply buying and selling coins, can you achieve the purpose of trading leverage. No additional contract funding rate is charged, which reduces the actual leverage overhead and leverage risk for users by optimizing fund management.
Important notice: The digital token market is subject to high volatility. Multiple leveraged ETF products will lead to more fluctuating prices, which increases a higher risk of profit and loss. Please make sure you understand all aspects in detail and participate with caution. Due to the timed and temporary position adjustments, the ups and downs of a period are not always the target leverage multiplier. ETF products are hedged by the perpetual contract market. This Means profit will open positions and loss will reduce positions. Consequently, leveraged ETFs are not a good choice for long-term holdings due to the adjustment mechanism and the cost of holding the position.
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