The competition has been designed in such a way that anyone can take part; you don’t need to be wealthy to have a chance of winning the top prizes. Prizes will be given out to both successful and unsuccessful traders.
The contest will span a duration of thirty days and there will be two sets of awards.
- Batch I: 3 Nov 2021, 1 PM UTC to 16 Nov 2021, 1 PM UTC
- Batch II: 17 Nov 2021, 1 PM UTC to 30 Nov 2021, 1 PM UTC
There will be two categories of prizes for each batch.
- Highest or Lowest Percentage PnL for a single trade
- Highest or Lowest Cumulative Percentage PnL
Percentage PnL is defined as (profit or loss) / (collateral) * 100%. The collateral value used will be the highest collateral recorded from opening the position to closing.
Highest or Lowest Percentage PnL for a single trade
Prizes per batch
- 1st Highest Profit or Loss: $2000 each
- 2nd Highest Profit or Loss: $1000 each
- 3rd Highest Profit or Loss: $500
- 4th-20th Highest Profit or Loss: $100
Highest or Lowest Cumulative Percentage PnL
Cumulative Percentage PnL is calculated as the sum of your trade percentage PnLs.
For example, if you close your first trade with a Percentage PnL of 20% and close your second trade with a Percentage PnL of -5%, your Cumulative Percentage PnL would be 15%.
Only trades opened and closed on GMX within the competition date range and with a collateral of at least $1000 will count towards the cumulative percentage
Prizes for each batch
- 1st Highest or Lowest Percentage: $25,000 each
- 2nd Highest or Lowest Percentage: $10,000 each
- 3rd Highest or Lowest Percentage: $5,000 each
- 4th-20th Highest or Lowest Percentage: $1000 each
Qualifying Rules
To be eligible for their rewards, participants must fulfil the criteria outlined above as well as the following:
- Claim their profile on the GMX leaderboard
- For the Highest or Lowest Percentage PnL for a single trade, participants must share the trade on Twitter
- Participants must also like and re-tweet the competition Tweet
- Prizes will be distributed as USDC
To Trade on GMX
Follow this guide to begin trading on GMX: https://gmxio.gitbook.io/gmx/trading
To Claim your Profile
- Click on the “…” icon on the top right of https://www.gmx.house/p/leaderboard
- Click on Connect Metamask or Wallet-Connect to connect your wallet
- Click on your account then click “Claim account”
- Key in your Twitter handle then click “Sign & Post” to confirm
To Share a Single Trade
- Click on the trade in your leaderboard account page
- Click on “share” to post the trade and include any message you want to share
To View Your Rankings for Batch I
- Single trades: https://www.gmx.house/p/redvsgreen-nov2021-single-1
- Cumulative PnL: https://www.gmx.house/p/redvsgreen-nov2021-cumulative-1
To View Your Rankings for Batch II
- Single trades: https://www.gmx.house/p/redvsgreen-nov2021-single-2
- Cumulative PnL: https://www.gmx.house/p/redvsgreen-nov2021-cumulative-2
Additional Prizes
The top 5 highest and top 5 lowest qualifying traders by percentage PnL for a single trade for each batch will also win an exclusive NFT to be revealed at a later date.
