Trading Challenge Season 2

Trading Challenge Season 2

Trading Challenge

January 14, 2023

Welcome New Year 2023 with the return of Trading Challenge Season 2! This season comes with more competitions and the addition of a weekly contest, including international competitions and, most importantly, the prizes are higher than last season – with a prize pool of more than 1,000,000 Forward tokens and a special prize of over 300 USDT. Participation details are as follows:

🔶 Campaign: Trading Challenge Season 2

🔶 Period: Jan 16, 2023 (1PM UTC) — Mar 13, 2023 (1PM UTC) 

🔶 Total Reward: 1,000,000 Forward tokens + Add on 300 USDT 

🔶 How to play:

  1. 🔹 Anyone can join the game by connecting their wallet and filling in their information to register with the system. 
  2. 🔹 No trade costs any money, but trading results are shown to PnL only. 
  3. 🔹 At the start, everyone has PnL = 0. You can trade with 10 pairs with up to 5x leverage, both long and short. 
  4. 🔹 The contract size of each pair for 1x leverage is fixed as follows:
    • BTC/FUSD contract size = 1 BTC 
    • ETH/FUSD contract size = 10 ETH 
    • BNB/FUSD contract size = 50 BNB 
    • DOGE/FUSD contract size = 200,000 DOGE 
    • LUNC/FUSD contract size = 100,000,000 LUNC 
    • MATIC/FUSD contract size = 20,000 MATIC
    • SOL/FUSD contract size = 1,000 SOL
    • AVAX/FUSD contract size = 1,500 AVAX
    • SHIBA/FUSD contract size = 1,500,000,000 SHIB
    • LINK/FUSD contract size = 2,500 LINK
  5. 🔹 Players have only two trade options: leverage and position direction (long or short). 
  6. 🔹 You can check the Leaderboard results, which will show results in real-time with PnL calculated from the balance of Realized PnL + Unrealized PnL (Positions that have not been closed).
  7. 🔹 Prizes for the Trading Challenge will be divided into 3 categories: Individual (Individual PnL and Weekly PnL), International (Country PnL) and Random winners participating in the event. Details are as follows:
    • 🔺 Individual competitions (Individual PnL) will be subdivided into competition throughout the campaign and weekly competitions. The contest throughout the campaign will be based on the top 30 PnL players after the campaign ends on March 13th (1PM UTC). After the campaign ends, the system will force close all your positions and will record your Realized PnL as trading results for 2 months. 
    • 🔺 For the weekly competitions, it measures up to 10 people with PnL each week, starting on the first week from January 16th (1PM UTC) to January 23rd (1PM UTC) onwards until March 13th (1PM UTC), a total of 8 weeks. The weekly PnL calculation is based on those who opened and closed positions during that week only (if you open a position on January 20th and close it on January 25th, with the weekly cutoff being January 23rd, then the PnL effect on your position will not be accounted for on a weekly basis. Since you did not open or close positions during the same week, but your PnL effect is still calculated per campaign)
    • 🔺 International competition (Country PnL) will be calculated from the total PnL of the players in that country (according to registration) and will be a competition throughout the campaign. We will give rewards to the top 10 players who get the highest PnL from the top 3 countries, totaling 30 people only.
    • 🔺 For Random lucky winners participating in the event, a total of 20 prizes will be randomly awarded. The right is reserved for people other than those who received the above prizes.

🔶 Example of PnL Calculation 

Alice opened a short position of LUNC at 3x leverage. LUNC’s entry price at the time was $0.0002, meaning that Alice believed LUNC’s price would drop and opened a total contract size of 300,000,000 LUNC at $0.0002 (contract size value $60,000). 

  • 🔹 If LUNC’s price drops to $0.00015 (+25%) and Alice closes the position, she will have a Realized PnL = +$15,000 (+25% of contract size value). 
  • 🔹 If LUNC’s price reaches $0.0003 (-50%) and Alice chooses to close the position, she will have a Realized PnL = -$30,000 (-50% of the contract size value). 
  • 🔹 Remark: If you open a position with 3x leverage, the percentage of PnL will be shown as the multiplying of leverage (3x). So, the above PnL percentages will be +75% and -150% respectively.

🔶 Rules and Conditions

  1. 🔺 No trade costs any money and there are no Trading Fees.  You can open and close positions freely. 
  2. 🔺 Each pair can only open up to 2 positions, short and long, and only 1 position each. 
  3. 🔺 We reserve the right for only 1 device per account. If we find that a player has signed up for more than one account, that player will be banned. 
  4. 🔺 We reserve the right to change the rules at any time if we see any game malfunction or any events that cause controversy. 
  5. 🔺 The decision of the team is final.

🔶 Reward Distribution

  1. 🔹 Individual PnL per campaign
    • 🔸 1st place 50,000 Forward tokens +50 USDT
    • 🔸 2nd place 40,000 Forward tokens +40 USDT
    • 🔸 3rd place 30,000 Forward tokens +30 USDT
    • 🔸 4th-10th place 20,000 Forward tokens
    • 🔸 11th-20th place 10,000 Forward tokens
    • 🔸 21st-30th place 7,500 Forward tokens
    • 🔸 Random Lucky 20 participants 3,000 Forward tokens
  2. 🔹 Weekly PnL (Per week)
    • 🔸 1st place 5,000 Forward tokens +10 USDT
    • 🔸 2nd place 4,000 Forward tokens
    • 🔸 3rd place 3,000 Forward tokens
    • 🔸 4th-10th place 2,000 Forward tokens
  3. 🔹 Country PnL (The 1st rank of top 3 countries will be rewarded with an additional +40 USDT)
    • 🔸 1st country place (rank 1-10) 15,000 Forward tokens
    • 🔸 2nd country place (rank 1-10) 10,000 Forward tokens
    • 🔸 3rd country place (rank 1-10) 5,000 Forward tokens

☘️ Get your trading skills ready for the trading contest to win prizes this time as well as invite your friends to join together to play and put your country in the top 3 for more rewards!

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