If you want to join, the entries start on 22nd April, with the competition taking place between the 27th of April and 18th of May.
What to know about the League of Traders Competition
If you skipped the first chapter of the union, LOT is an individual crypto-trading contest on Phemex that allows participants to use a secret weapon – the League of Traders app.
With the League of Traders app as a sidekick, you will be able to view your assets across various exchanges and handle copy trading features.
In other words, combine your own trading talent with other trading portfolios and get the most out of this competition!
What exactly determines the Total Prize Pool?
The total prize pool (TPP) is determined by the total number of participants so that the top players could get prizes to match:
- 0.6 BTC total prize pool for 150-199 participants;
- 0.8 BTC total prize pool for 200-249 participants;
- 1 BTC total prize pool for 250-299 participants;
- 1.2 BTC total prize pool for 300-399 participants;
- 1.6 BTC total prize pool for 400-599 g participants;
- 2.4 BTC total prize pool for 600-799 participants;
- 3.2 BTC total prize pool for 800-999 participants;
- 4 BTC total prize pool for 1,000+ participants.
You only need a Phemex account with a minimum balance of 0.02 BTC or equivalent in tokens to participate in this contest.
If you got one, then all that is left to do is downloading the LOT app, making an account, and then connecting it with your Phemex account based on the API Key.
You can find more detailed information here if it’s your first time using these kinds of features.
How is the prize distributed?
There are two prize-awarding cases, which are again dependent on the number of applicants.
Case 1 – Fewer than 200 applicants
If there are fewer than 200 trading participants, the prize will go to the top 5 best traders in the competition:
- The gold medal consists of 40% of the total prize pool;
- The silver medal consists of 30% of the total prize pool;
- The bronze medal consists of 20% of the total prize pool;
- The 4th and 5th places on the podium will get 10% of the total prize pool distributed evenly.
Case 2 – 200+ applicants
If there will be more than 200 participants, there will be a total of 10 prizes that will be distributed as such:
- The gold medal consists of 35% of the total prize pool;
- The silver medal consists of 25% of the total prize pool;
- The bronze medal consists of 15% of the total prize pool;
- The 4th and 5th places get 10% of the total prize pool distributed evenly;
- The 6th to 10th places get 15% of the total prize pool distributed evenly;
Who is behind this competition?
This competition was brought to life by the team behind Phemex and the League of Traders.
Phemex has been created by former Wall Street investors and traders as a crypto exchange. The platform is vaunted not only because of the high-quality standards but also due to the exciting events the team organizes for their users.
Plus, they are always in tune with the trends. On OpenSea, you can still see up for sale an NFT Piece of art made of wallet addresses’ QR codes of Phemex Traders.
League of Traders, on the other hand, is a mobile app dedicated to those who want to improve their trading strategy. Users are provided with a copy trading feature, and they can also analyze the portfolio of their models – to see what they do differently.
This approach made huge profits for users, with the top 10 traders having a monthly profit rate of 208%.
Do you want to be up to date with all the info regarding the current and future competition? Then follow them on social media accounts and be the first who benefit from their perks:
League of Traders channels
Disclaimer: This is a paid post and should not be treated as news/advice.