Phemex Announces $2 Million Prize Pools in their Trading Rebate Rewards

Phemex, one of the most efficient crypto trading platforms, is known for hosting massive trading competitions with huge rewards. This time, Phemex has upped the stakes. The fast growing crypto exchange is calling on all traders to participate in the grand Trading Rebate Rewards event with a massive $2 million prize pool..You are invited to join the event in order to collect your share.

The competition lasts four weeks, and you can sign up ahead of time to engage in weekly tasks where you can double, triple, or even 5X your potential awards.

Rules of participation 

Phemex prepared for you a $2 million reward supply if you join the Trading Rebate Rewards competition. After joining, you can trade any of Phemex’s supported contract pairs to increase your share of the final bonus.

How can you participate?

First, you must register for Phemex to create an account if you do not have one already. Once you have registered on the Phemex Platform, you can join the competition by clicking through 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 period is four weeks in total. Each week will feature one new mission, which you can also complete to boost your final rewards. Available missions can be found on the event page and can be completed anytime during the competition period. They do not necessarily need to be done the specific 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.

When will it all happen?

The registration will take place between March 17 to March 24, 2022. In this period, the event is not officially started but users can join through the event page.

The main competition is between March 24 to April 21, 2022. In the competition there will be weekly missions and contract trading that will add on the Personal Score. Users can still join anytime during this period; it doesn’t matter that the competition started already.

The winners will be announced on April 26, 2022, and the Distribution of Rewards will be from May 3, 2022.

Prize Pools – till $2 million USDT 

After the Trading Rebate Rewards ends, all rewards will be distributed as USDT to the user’s Phemex spot wallet. The more contract trading and open contract positions you hold during the competition period, the greater your share of the total $2 million prize pool.

Although, Phemex prepared for each eligible participant a personal reward 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

About Phemex

Phemex is a financial services company founded on the principles of honesty, integrity, and trustworthiness. Phemex, led by eight former Morgan Stanley executives, seeks to create the most reliable cryptocurrency derivatives trading platform in the world.

As Phemex continues to expand with their community, Phemex always puts customers first and honors its mission to give the highest level of quality products and services.

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

Contact for more details

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.

Disclaimer: This is a sponsored press release. Information written in this press release does not constitute investment advice. Readers should do their own research before investing or taking any actions related to the company. Crypto Academy is not responsible for any damage or loss caused or claimed to be caused by or in connection with the use of or reliance on any content, or services mentioned in the press release.