KuMEX FOMO Trading Competition: $100,000 to Give Away!
Dear KuMEX users,
The KuMEX FOMO Trading Competition will take place over five rounds from 12:00:00 on September 16, 2019, to 12:00:00 on September 21, 2019 (UTC+8). Each round will last for a maximum of 24 hours with 20,000 USD as the prize pool upper limit. An effective order requires at least 100 lots traded and the makers and takers of any executed orders will have a chance to get a share of the prize.
The bonus in the prize pool is composed of “Initial Bonus + Cumulative Bonus”. The Initial Bonus for each round is 1,000 USD. If the prize publication is not triggered, the current bonus in the prize pool will become the initial bonus of the next round. For every 100 lots long/short during the activity, 0.02 USD will be added to the prize pool as a cumulative bonus.
FOMO Countdown: The countdown timer for each round is set to 30 seconds. Before the countdown expires, for any effective order traded at least 100 lots on KuMEX, the countdown timer will be increased by 10 seconds (If countdown time＞30 seconds, the time will be calculated as 30 seconds). When the timer reaches 00:00:00, the prize will be published and the maker and taker of the last effective order traded will equally share the prize pool.
*E.g: Suppose trader A/B traded 500 lots when the timer has 5 seconds left to 00:00:00. After the order is executed, the timer will increase to 00:00:15. If the current bonus in the prize pool is 10,000 USD and no effective order is executed until the countdown timer expires, trader A/B will equally share the prize pool with each getting 5000 USD.
Get the Prize Limit to the Top: When the accumulated prize reaches 20,000 USD (the former prize amount in the last round not included), the prize pool reaches the limit and the prize publication will be triggered. The top 200 users within 24 hours of the corresponding round will share the current prize pool based on the proportion of their trading amount.
*E.g: If the prize pool reaches 20,000 USD in the third round by 10:00:00 on September 16, 2019 (UTC+8), and the prize publication is triggered, supposing trader C ranks top 20 in the trading competition and his/her trading amount proportion is 5%, the bonus amount for trader C would be: 20,000*5% = 1000 USD.
Prize Rollover: If the prize publication is not triggered within 24 hours, the bonus in the prize pool will be carried over to the next round. If the prize publication is not triggered in any of the first four rounds, the system will publish the prize winners once the activity has ended and the bonus in the prize pool will be distributed according to the trading amount proportion of the users (please refer to 2. Get the Prize Limit to the Top).
After the activity has ended, the system will convert the money (USD) in the prize pool into Bitcoin based on the index price at 12:00:00 on September 21, 2019 (UTC+8), and distribute the prize bonus to the corresponding KuMEX accounts of the winners.
*KuMEX reserves the right to the final interpretation of the activity.
The KuMEX Team