Join the Ultimate Trading Rebate Rewards by Phemex with $2 Million Prize Pools

Experience, building confidence, and gaining new skills are the top reasons why people enter trading contests. These usually involve head-to-head competitions where the winner takes all.

The principle behind the contest is simple. You need to pick a certain amount from the available currencies. If they perform better than the currencies chosen by your opponent in the specified timeframe, you win.

Many financial services providers organize trading contests with rewards for their community in the crypto area. But this modality is engaging the whole community.

Phemex, one of the most efficient crypto trading platforms, is hosting frequent trading competitions. The Trading Rebate Rewards event is a significant trading competition with a massive prize pool. If you would like to claim your slice of a whopping $2 million reward supply, you are invited to join the event.

Read this article to learn more about the ultimate trading rebate reward organized by Phemex and how you can register for participation!

About the Trading Rebate Rewards by Phemex

Trading Rebate Rewards is a grand trading competition with a $2 million reward supply organized by Phemex. If you are interested in joining, you must remember that the competition lasts four weeks.

In this trading competition, you can register to join ahead of time to participate in the weekly missions, where you can complete to double, triple, or even 5X your potential rewards.

After registering, you can trade any of Phemex’s supported contract pairs to increase your share of the final bonus.

Participation Steps

To begin, you must first register for Phemex and create an account if you do not already have one. You can enter the competition after registering by going to the event page. During the competition period, engage in contract trading to stack up your Personal Score and accumulate more rewards. All contract trading pairs supported on Phemex at the start of the competition period will count towards your final rewards.

The competition will go for a total of four weeks. Each week, there will be a new mission for you to complete in order to increase your final rewards. Missions are listed on the event website and can be done at any point throughout the competition. They do not have to be done the same week they are revealed.

After the competition period ends, each participant will win a share of a $2 million total prize pool based on their contract trading activity and missions completed.

What can you win?

If you have more contracts trading and open contract positions during the competition period, you will have a greater share of the total $2 million prize pool. When the Trading Rebate Rewards have ended, all rewards will be transferred in USDT to the user’s Phemex spot wallet.

For each eligible participant the Phemex personal reward is based on the following formula:

Personal Reward = Total Prize Pool X

(Personal Score / Total Score of all users)

And each eligible participant’s Personal Score is calculated based on the following:

Personal Score = (Fees Paid)^0.7 * (Average Open Interest)^0.3 * Mission Multiplier.

Important Dates

The registration period will be between March 17 and March 24, 2022. During this time, the event is not officially underway, but users can join by accessing the event page.

The competition will take place from March 24 to April 21, 2022. Weekly tasks will be available throughout the competition, and contract trading will count toward your Personal Score. Users can join at any point throughout this period, even if the competition has already begun.

The winners will be announced on April 26, 2022, and the rewards will be distributed starting on May 3, 2022.

Who is Phemex?

Phemex is a top crypto derivatives exchange founded by professional Wall Street traders and investors.

Phemex was one of the first platforms to charge customers a small membership fee, allowing them to provide zero-fee spot trading. Phemex soon became the preferred exchange platform for many crypto traders thanks to their strong focus on security and good customer service.

As they continue to expand with their community, they put their customers first and never compromise or quit their commitment to providing the greatest level of quality products and services.

Furthermore, Phemex intend to provide exchange features that are significantly more powerful than any already available. As a result, their team is always available and collecting feedback, comments, and requests from their social media community.

Keep updated

If you are interested in joining trading competitions, Phemex is a good choice, mainly because they frequently organize this kind of event and their community shows good feedback.

More details on each component of the prize pools formulas of the Trading Rebate Rewards can be found in the Terms and Conditions section of the Trading Rebate Rewards announcement page or the official Phemex website.