Like any other competition, of course there must be some requirements;
- Register If you don't have an account on the gate.io exchange yet, it is highly recommended to register and verify your identity (kyc) as soon as possible because only verified accounts can enter the competition.
- Deposit You must have deposited over $200 USDT in your contract account, so don't forget to prepare this before entering for the competition.
- Register for the competition Unfortunately Gate.io exchange does not automatically enter its users into the competition, so users must register manually through this link: https://www.gate.io/futures/competition. You can freely choose to join in troop showdown, solo showdown or form a troop as troop captain. The minimum troop should have no less than 5 members. If the troop has less than 5 members before the competition starts, the troop will be automatically disbanded and put to solo showdown.
Duration
Registration Time: December 22nd, 2021, 00:00 - January 17th, 2022, 24:00 (UTC)
Competition Time: January 7th, 2022, 00:00 - January 21st, 2022, 24:00 (UTC)
There's still enough time to register and verify your identity if you don't have an account yet. Register here
Market
All Trading Pairs of USDT-Margin Perpetual Contract
There are currently more than 200 pairs of USDT-Margin Perpetual Contracts on the gate.io exchange including Bitcoin, Ethereum, Doge, Shib and more.
What is Perpetual/Futures Contract?
To find out what perpetual contract actually is, I think we should know the difference between a futures contract and the spot market first.
In simple terms, the difference is that if we buy Bitcoin on the spot market then we actually own it. However, if we are in the futures market, we just take a position or we don't actually own it. Traders only need to focus on the ups and downs of price. Profits can be doubled, but the losses can also be doubled. You have to be aware with this.
Prize Pool
Since it's a expandable prize pool, it's mean the more users participating in this competition, the higher the total prize pool will be.
The distribution of the prize pool will differ between troop showdown and solo showdown, this can also be a consideration for you to choose as. Troop showdown share 80% of the total prize pool, and solo showdown share 20% of the total prize pool. In both troop showdown and solo showdown prize pools, a share of 80% of the corresponding prize pool rewards will be offered according to rank of the profit, and the remaining share of 20% of the corresponding prize pool will be offered according to the proportion of profit rate ranking. The final prize pool will be determined by the valid trading users.
Learn more competition details, click here
GATE.IO EXCHANGE
Gate.io is a cryptocurrency exchange launched in 2013. They have proven themselves to be a safe, secure, stable and reliable exchange. During their 8 years of operation they are constantly innovating and always following the latest developments that occur in the cryptocurrency industry. Gate.io has gained the trust among traders around the world, their users keep growing and now they have more than 10 million registered users.
According to Coingecko, Gate.io has 1188 coins listed with 2331 pairs and has a perfect trust score of 10, this makes gate.io one of the top 10 cryptocurrency exchanges in the world.
Get the latest information about this competition and other events through their official social media accounts:
Telegram: https://t.me/gateio
Twitter: https://twitter.com/gate_io
Facebook: https://www.facebook.com/gateioglobal
Instagram: https://www.instagram.com/gateioglobal/
Reddit: https://www.reddit.com/r/GateioExchange/
Youtube: https://www.youtube.com/channel/UCChFMpMMqduaUuGGCPIn9xw/feature
Medium: https://gateio.medium.com/
Disclaimer:
You should be aware that trading cryptocurrencies carries a greater investment risk than other investment funds. Never do it unless you are ready to take the risk yourself, the losses can be BIG!