Phemex is back. The fourth edition of the popular Phemex Trader's Arena trading competition promises to be exciting with great prizes. Phemex crypto exchange invites participants with a prize pool of 750 thousand dollars. Merchants will fight each other and the winners will be rewarded.
Investors will be able to compete as individual traders or as part of a team on PT Arena 4. Prizes will be awarded in two categories, individual and teams. The more traders sign up to participate in Phemex IV, the bigger the prize pool will be.
Previously, Phemex only counted reverse BTCUSD contract transactions in the final total for each trader. PT Arena 4, on the other hand, has made a few tweaks to allow more engagement. It was announced in PT Arena 4 that all contracts available on the platform will be counted.
ROI on both USD and BTC transactions will count towards the final total. The contract with the highest amount at the end of the competition will be counted on the person's behalf. Phemex will calculate individual results using PnL on BTC and USD trading accounts. Users with the highest ROI at the end of the specified period will emerge as the winners of the competition.
Traders can sign up to compete as individual players. Merchants with enough influence to keep a team behind them can sign up as Team Captains and compete as a team. Team Captains must be registered with their team and each team must contain 10 members to be considered a valid registration.
Traders can add to their team over time, but if they do not reach the minimum requirement by the registration closing time, the team will be automatically disqualified/disbanded. Members of the deployed teams will then be randomly assigned to other teams to compete. A team can have more than 10 members. However, only the ROI of the top 10 traders in each team will be included in the team's final total at the end of the competition.
Registration for the PT Arena 4 will run from November 25, 2021 to December 9, 2021, after which the competition will begin. The competition is scheduled to start from 08:00 UTC on December 9, 2021 to 08:00 UTC on December 24, 2021.
Players in the PT Arena 4 trading competition will be rewarded based on the category they compete in. Individual traders will be rewarded based on their BTC and USD PnL (profit and loss). Teams will be ranked according to the average ROI of the top 10 performing members.
Bonuses in both categories are up for grabs. For individual traders, PT Arena 4 offers trading bonuses to participants who deposit high enough funds into their contracted trading account during the competition period. The higher the deposit, the greater the bonuses individuals can receive.
Team Captains are not excluded from the bonus. Team captains will be awarded according to the size of their teams. Teams can be as small as 10 members and as large as 200 members. The higher the team members, the better the reward
The prize pool of PT Arena 4 will have a spread of 78%-22%. Teams will receive a larger share of the final prize pool, while the remaining 22% will go to individual players.
For teams, team captains will receive 40% of the team's prize. Each of the top 10 members will receive 3%, corresponding to 30% of the total team's reward. The remaining members will receive a share of the remaining 30% based on the number of people on the team.
Winners in the individual trade category will receive 8% of the total prize pool if they place first. 5% will go to the 1st runner-up in the individual competition and 2% will be given to the 2nd runner-up. 4-10. Individual players who take the turn will split the remaining 7% equally among themselves.
Prizes, bonuses and prizes will be distributed after the contest ends. Up to $750,000 BTC awaits the winning teams/traders in this competition.