Press releases Cryptocurrency exchanges chainwire January 10, 2022 0 Comments

Gate.io’s Global Futures Trading Competition Offering Traders Up to $2M In Rewards is Live

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Singapore, Singapore, 10th January, 2022, Chainwire

Leading digital asset exchange, Gate.io, is starting 2022 with a bang with its first-ever Global Futures Trading Competition (GFTC). The competition, which began on January 7 and runs until January 21, 2022, offers a total prize pool of $2 million. Registration began on December 22, 2021, with late registrations open until January 21.

“This is probably one of the most user-friendly contract events I have ever been a part of. The best thing is that with $200, the barrier-for-entry is super low so everyone can participate. There are also over 180 contracts for us to interact with, which speaks to the sheer diversity Gate.io has to offer,” said one of the competition’s participants.

However, more than anything, the reward structure of the event has garnered a lot of praise. It has been designed so that everyone can win at least something just by participating in the event – directly and indirectly. Before we get into the rewards structure, let’s look at Gate.io’s growth as a leader in contracts trading.

Gate.io Becomes 5th Largest Contracts Platform

As per CoinGecko, Gate.io is now the 5th largest contracts platform globally with a 24-hour open interest of ~$2.68 billion. Moving forward, Gate.io will be working on expanding its contracts services due to its many advantages over normal spot trading, mainly:

It allows people to indirectly trade crypto in countries where holding the asset is banned.
The futures market is always highly liquid, ensuring faster trades and easier entry and exit points.
Futures trading is a solid hedge against price fluctuations of a volatile asset like crypto.

The Five-Fold Reward Structure Of The GFTC

One of the more intriguing aspects of the GFTC is the sheer variety of rewards available for all our participants. Overall, the rewards are distributed among the following:

Troop Showdown
Individual Showdown
Anniversary rewards
NFT rewards
Champion Prediction

Troop Competition

Users may participate in the competition in teams (or troops) or as individuals. The troops will account for 80% of the overall prize pool with a max share of up to 1.6 million USDT. The prize breakdown for the troop showdown is as follows:

1st Place: Counts for 30% profit or profit rate in the prize pool.
2nd Place: Counts for 20% profit or profit rate in the prize pool.
3rd Place: Counts for 15% profit or profit rate in the prize pool.
4th-10th Place: These get a share in 15% of the troop showdown prize pool according to the profit ranking or profit rate ranking.
11th -100th Place: These get a share in 20% of the troop showdown prize pool according to the profit ranking or profit rate ranking.

Individual Competition

Individuals count for 20% of the total prize pool with a max share of 400,000 USDT. As many as 500 users can win prizes in the individual showdown. The breakdown of the rewards is as follows.

1st Place: Counts for 30% profit or profit rate in the prize pool.
2nd Place: Counts for 20% profit or profit rate in the prize pool.
3rd Place: Counts for 15% profit or profit rate in the prize pool.
4th-10th Place: These get a share in 15% of the individual showdown prize pool according to the profit ranking or profit rate ranking.
11th-500th Place: These get a share in 20% of the individual showdown prize pool according to the profit ranking or profit rate ranking.

Third Contract Anniversary Rewards

Gate.io is conducting the GFTC to celebrate the third year anniversary of its futures trading. 100,000 USD will be given out as invitation rewards and anniversary gift packages. Only one valid account can be purchased for one gift package. The packages given out are as follows:

Free packages worth $5 points– limited to 20,000 packs
Special packages worth $25 points + $5 contract bonus for 5 USDT – limited to 5000 packs
Exclusive packages worth $45 points + $5 contract bonus for 20 USDT – limited to 3000 packs
Luxury gift package worth $120 points + $10 contract bonus 50 USDT – limited to 2000 packs

Limited NFTs Worth $30,000

Between December 22nd, 2021 00:00 UTC and January 21st, 2022 24:00 UTC, Gate.io users will have the opportunity to win limited edition NFTs worth 30,000 USDT. There are two types of NFT reward types – Invitation Star and Champion King.

Invitation Star

Invite your friends to register for the GFTC competition. All inviters who invite at least 20 friends will be eligible to win 200 OpenPunks mystery boxes – worth 20,000 USDT. The distribution of the boxes will be like this:

1st place: 20 boxes.
2nd place: 15 boxes.
3rd place: 10 boxes.
4th-10th place: 35 boxes shared.
11th-50th place: 120 boxes shared.

NOTE: If less than 50 participants are qualified for the reward, then each ranked participant will get 4 mystery boxes.

Champion King

Following the competition, the champion king rewards, 100 rare OpenPunks worth 10,000 USDT, will be given to the star performers.

The top 10 participants within the top 3 troops get 1 OpenPunk each.
Top top 10 individual participants get 1 OpenPunk each.
The top 20 troop captains (with at least 50 troop members) get 1 OpenPunk each.

Predict and Win

Users can participate by predicting the top 1 troop. Based on the number of votes, those who successfully predict the winner get a share in the $10,000 prize pool. Users can send their predictions from January 10th, 2022, 00:00 UTC, to January 17th, 2022, 24:00 UTC. All users can vote, provided they hold more GT tokens than the number of available votes per day. The number of votes a user has per day is dependent on their VIP level:

VIP≤3 can cast 3 votes per day
3<VIP≤10 can cast 5 votes per day
VIP>10 can cast 10 votes per day.

About GFTC

Gate.io’s first global futures trading competition provides an expandable prize pool of up to $2 million. The competition consists of Troop Showdown, Solo Showdown, early-bird rewards, NFTs, and voting rewards. Global traders can register through the official competition website.

About Gate.io

Gate.io is a leading digital currency exchange with over 10 million users in 190 countries across the globe. The exchange offers spot, margin, futures, and contract trading in addition to DeFi products through HipoDeFi, services through Wallet.io, investments through Gate Labs, and the GateChain platform. The company also offers an integrated list of products such as its Startup IEO platform, NFT Magic Box marketplace, crypto loans, and more.