Leading crypto exchange Phemex will launch a new version of its Phemex Traders Arena. After a huge success in the last year, everyone is invited to join this crypto contract trading competition To have a shot at winning a piece of bitcoin (BTC) worth $750,000.
Called PT Arena 3: Race for Glory, from June 7 to June 20, participants and their captains will be able to Sign up. A day after this, the competition will be held from 21 June to 4 July. Prices will be distributed on July 12.
As in previous years, the competition for the BTC/USD contract pair will be held. Different teams will have to compete for the total prize pool. As a requirement, participants must have a Phemex trading account with a minimum of 0.005 BTC at the time of registration. Once completed, they will receive a $5 trading bonus.
Rewards for Femex Traders Arena
For this edition of PT Arena, the prize pool will depend on the number of participants. The pool grows as more people sign up.
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In addition, this third edition of PT Arena will include bounties for team captains.
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Team prizes will be 78% of the total prize pool, with 1st place at 25%, 2nd place 15%, 3rd place 8%, and 4th to 10th place will equal 30% of the total pool. .
All valid teams must have at least 10 members who are likely to be disqualified if this requirement is not met by 21 June. For teams with less than 40 members, they will be ranked based on the average return on investment (ROI) of their top 10 traders.
Teams with more than 40 members will be ranked based on their return on investment (ROI) for the top 25% of traders in the team.
For the winning teams, the team captain receives 40% of the team’s reward, the top 10 traders receive 30%, and the last 30% is shared equally with the rest of the team.
Phemex will also reward the best individual traders based on their profit and loss (PnL).
Individual prizes will represent 22% of the total final prize pool. The first three places will take 8%, 5% and 2% respectively.
Lastly, everyone will have a chance to earn rewards if they sign up and follow Phemex’s Twitter account.