Announcement on SnapEx World Trading Championship
SnapEx is introducing a new trading competition series format - SnapEx World Trading Championship - with one major trading competition hosted in each quarter of 2020.
Each competition will have a prize pool that will dynamically increase as the number of participants will increase. The number of participants who will be awarded prizes will also increase accordingly.
The trading competition series of 3 quarterly competitions will end with a Grand Finale in the 4th quarter of the year.
SnapEx World Trading Championship will be run as a series of competitions in four separate phases:
Q1: 1st Series (March)
Q2: 2nd Series (June)
Q3: 3rd Series (September)
Q4: Grand Finale (December)
Winners from each quarterly competition will be eligible to participate in the Grand Finale - where SnapEx will host both an online and offline trading competition (with details to be announced at a later date).
Launch of SnapEx World Trading Championship (WTC) 2020
SnapEx World Trading Championship (WTC) 2020
The first series of SnapEx World Trading Championship (WTC) will begin at 15:00 on March 17, 15:00 and end on March 31, 15:00 (UTC + 8). This competition will be based on Real account trading and winners will be based on their Return-on-Equity (ROE). WTC will host 2 contests:
- Daily ROE- Top 5 traders with the highest daily ROE (for the past 24 hours)
- Overall ROE- Overall ROE ranking (of up to 400 winners) for the duration of the competition
Unlike regular trading contests, our new trading competition format for WTC will feature a tiered competition reward system. The more users who participate in WTC, the more that the total prize pool for the competition will increase. The total limit for the prize pool can reach as high as 120,000 USDT, while the maximum number of winners can be as many as 400.
The competition will run for 14 days, beginning on Tuesday 17th March 2020 (GMT +8) and ending on Tuesday 31st March 2020 (GMT +8).
Start: 15:00, 17th March 2020 (GMT + 8)
End: 15:00, 31st of March 2020 (GMT +8)
- To be eligible to participate in the competition, users need to:
- Sign up
- Complete KYC
- Deposit (minimum of 50 USDT)
- Complete at least 1 trade
- To be eligible for the competition rewards, users need to have a minimum of 50 USDT (in their Real account) at the start of the competition.
- Users may only use one account to participate. If a user is found to participate through more than one account, the user will be removed from the competition.
- An account with less than 50 USDT will start with negative ROE. For example:
At the start of the competition, your account balance is 30 USDT. After placing a Real account trade, your account balance becomes 40 USDT. At this time, your return in this competition is (40-50) / 50 x 100% = -20%
A user can deposit additional funds into their account during the competition in order to get their account balance equal to or above 50 USDT. That way you will be able to compete in WCT without a disadvantage.
Competition Reward Mechanics
- The prize pool for the competition will be determined on a floating basis. The larger the number of participants, the higher the total bonus (of up to 120,000 USDT).
- Table 1 below is a breakdown of bonuses for the top Daily ROE traders, based on the number of participants. If the number of participants for the competition is less than 1,500, there will be no Daily ROE reward.
|Number of participants||<=1999||2,000-3,999||>=4,000|
|Total Bonus||21,000 USDT||28,000 USDT||35,000 USDT|
|Ranking||Daily ROE Ranking & Reward|
|1st Place||600 USDT||800 USDT||1,000 USDT|
|2nd Place||350 USDT||460 USDT||600 USDT|
|3rd Place||250 USDT||320 USDT||380 USDT|
|4th Place||200 USDT||240 USDT||300 USDT|
|5th Place||100 USDT||180 USDT||220 USDT|
- Table 2 below is a breakdown of bonuses for Overall ROE (for the duration of the competition), based on the number of participants.
|Overall ROE Ranking & Reward|
|Number of participants||1-499||500-999||1000-1499||1500-1999||2000-3999||≥4000|
|Total Reward (USDT)||3000||10000||25000||39000||62000||85000|
|Ranking||Reward Percentage per Participant|
- The top 3 traders for overall comp etition ROE are entitled to an exclusive custom-made trophy, issued by SnapEx.
- The top 10 traders for overall competition ROE will be invited to be SnapEx official affiliates. The invited user will enjoy a minimum of 40% lifetime commissions from users who join SnapEx using their invitation link or referral code.
- During the competition period from the 17th to 31st March, we will be giving additional rewards for users who join the official SnapEx Telegram group. The first 10 new users who join the Telegram group will receive 1,000 SNAP points each. All other new users will receive 500 SNAP points.
- Prizes will be rewarded for Daily Return On Equity (ROE) as well as Overall ROE for the competition period.
- For Daily ROE, the top 5 traders with the highest ROEs will be rewarded each day. The ROE for the winners will be calculated from the last 24 hours, from 15:00 until 14:59 the following day.
- For Overall ROE throughout the competition period, the number of participants eligible to win prizes will amount to 10% from the corresponding prize pool (refer to Table 2 below). For example, if the total number of participants for WCT reaches 1,500, the total number of eligible winners will be 150.
- The total number of participants that will be awarded prizes will not exceed 400.
- Daily ROE and Overall ROE must be positive in order to be rewarded.
- ROE for this competition will be calculated as follows: ROE = (Current account equity + Withdrawal amount during the competition) / (Account equity at the start of the competition + Commission rebate obtained during the competition + Deposit amount during the competition) -1
- If there are winners with the same ROEs, those with higher trading volumes will receive a higher bonus.
- Prizes will be distributed and sent directly to the winners’ SnapEx account within 7 working days after the completion of the competition.
- For winners of the customised trophies, a member of the SnapEx team will be in touch with the winners to arrange for delivery.
- SNAP rewards for new users will be issued manually every Monday.
- SNAP is a rewards scheme, which enables users to deduct transaction fees. The deduction ratio is 100 SNAP = 1 USDT. Upon reaching 10,000 SNAP, users may exchange it to 100 USDT.
- SNAP points awarded for joining official SnapEx Telegram groups will only be rewarded once. It will not apply to users who join multiple SnapEx Telegram groups.
- SnapEx reserves the right, at its discretion, to change, modify, add, or remove portions of these Terms at any time.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.