The Bingbon Philippines Demo Trading Competition will take place from January 7th, 00:00 to January 8th, 23:59 (GMT+8), with a daily reward of 250 USDT!
Daily top 3 by P&L rate rankings can win an additional reward of 25 USDT/ 15 USDT/ 10 USDT accordingly. The total prize pool is up to 600 USDT!
* Special Note:
- Users use VST as margin issued by Bingbon for demo trading; There are no requirements about principal/account asset amount.
- There is no real value to VST, which can not be withdrawn.
- This event is only available for Bingbon Phillippines users.
- Registration Description
- Registration Time: 2020/01/07 (Registration is valid during the event.)
- Competition Period: Jan 07 00:00 — Jan 08 23:59 (GMT+8)
- Total Prize Pool: 600 USDT
- Prize Pool Share Description:
1）After registration, if the P&L rate of the trading settlement on the day is greater than 0%, you can join the prize pool share at 12:00 on the next day.
2）The P&L rate is calculated based on the VST amount of Standard Contract Account, with no limit on the variety of trading pairs.
3）Only participants with a positive P&L rate are eligible for prize pool sharing; The reward is distributed according to the proportion of the P&L rate.
4）Daily top 3 by P&L rate rankings can win an additional reward of 25 USDT/ 15 USDT/ 10 USDT accordingly. - P&L Rate = (VST Amount after the Daily Settlement — Initial VST Amount) / Initial VST Amount (1. Positions will be forced to close at the periodical settlement time. 2. The Initial VST Amount for the first round/day is 100,000; The Initial VST Amount for the second day is equal to the VST Amount after the Settlement of the first day.)
Tips:
- The competition ranking will be updated every 2 minutes.
- After registration, the VST amount in the Standard Contract Account will be reset to 100,000 VST at the start of the competition.
- Both Isolated Margin Mode and Cross Margin Mode are available for this Demo trading competition.
- The P&L rate displayed on the activity page only includes trades that have been closed.
- Positions will be forced to close by the system at the P&L rate settlement time of each round.
- If you are eligible for prize pool sharing, you will receive a reward notification in the [Message Center] at the upper right corner of the Bingbon App/Website.
Example:
Only users Jack, Tom, Helen and Calvin participated in this Demo Trading Competition on that day.
The P&L rate settled on the day: Jack 50%, Tom 30%, Helen 120%, Calvin -40%.
Prize pool on the day is 250 USDT.
The P&L rate of Jack, Tom and Helen is greater than 0%, so they can join the prize pool share.
Total P&L rate is 50% + 30% + 120% = 200%.
In this case,
Jack can get the prize pool share 50/200 * 250 = 62.5 USDT.
Tom can get the prize pool share 30/200 * 250 = 37.5 USDT.
Helen can get the prize pool share 120/200 * 250 = 150 USDT.
As Calvin has a negative P&L rate, he will not participate in the prize pool share of the day.
Note:
1) The P&L rate of 3 of the 4 users is greater than 0%, so only three users can get rewards in this VST trading competition.
2) Users that violate the rules of self-dealing, wash trading, and using multiple accounts will be disqualified.
3) Only the profit of VST Standard Contract trading will be calculated into the competition statistics.
- Terms and Conditions
- After registration, the VST amount of Standard Contract Account will be reset as 100,000 VST at the start of the competition.
- The Initial VST Amount for the first round/day is 100,000; The Initial VST Amount for the second round/day is equal to the VST Amount after the Settlement of the first round.
- Only the profit of VST Standard Contract trading will be calculated into the competition statistics.
- Every round/day refers to a natural day 00:00–23:59 (GMT+8).
- Bingbon reserves the right to disqualify users that violate the rules of self-dealing, wash trading, and use multiple accounts.
- Bingbon reserves the right of final interpretation of this activity.
Risk Warning:
Digital asset derivatives trading is highly leveraged and risky, and may result in partial or total loss of account funds. Before participating in contract trading, investors must ensure that they understand the nature and rules of contract trading, and decide whether participating in contract trading is profitable. Investors should base their decision on their investment experience, goals, financial status, and ability to bear risks.
