Last week we listed four new 3x leveraged tokens (BTC3L, BTC3S, ETH3L, ETH3S) by AMUN. We are happy to announce that we are hosting a leverage ETH trading competition to support our new listing. 🎉

How can I participate?

Head to the trading competitions page and click on “Apply now” for each competition, then when trading the 3x leverage ETH pairs you will automatically be entering the pool of possible winners. At the end of the competition, the top 5 traders with the highest trading volume across all pairs (ETH3L/USDT, ETH3S/USDT) will be sharing a prize pool of up to 10,000 USDT.

Please note that we have two separate competitions on our exchange for ETH3L and ETH3S, click the button “Apply now” to enter the competition.

What is the recommended holding time for leveraged tokens?

Amun’s leveraged tokens are best held for a maximum of one day as they only provide 3x or -3x notional exposure to the daily performance of Bitcoin or Ethereum. Over multiple days the tokens are subject to compounding and will not exactly track 3x or -3x of Bitcoin or Ethereum’s multi-day returns. You can learn more about compounding on Amun’s education page.


How do these leveraged tokens work?

Leveraged tokens maintain a notional exposure to 3x or -3x of the daily returns of a crypto asset like Bitcoin or Ethereum. For example, if Bitcoin were to rise by 3% on a single day then BTC3L (Bitcoin 3x Daily Long) would aim to rise by 9% on the same day. However, if Bitcoin were to fall by 3% then BTC3L would aim to fall by 9%.

At what time exactly do they reset back to ETH’s price?

They don’t “reset” they rebalance at 5 PM CET. This means they adjust their exposure to ensure that they always track 3x or -3x of ETH’s DAILY returns.

For example, if ETH goes up 5% then ETH3L will go up 15% on day 1, but then it will need to be rebalanced as the increase in price would mean the token is overexposed to ETH’s movement.

Trading Pairs:

  • ETH3L/USDT (Ether 3x Daily Long)
  • ETH3S/USDT (Ether 3x Daily Short)

Activity period: 9 days

Start date: Friday 03/07/2020 00:00 (UTC)

End date: Sunday 12/07/2020 23:59 (UTC)

Ranking and prize calculation process:

  1. All participants will be ranked in terms of the total ETH3L and ETH3S trading volume traded on their Bitcoin.com Exchange account (including both Buys and Sells) across the ETH3L/USDT and ETH3S/USDT pairs. This sets the prize that each trader per ranking could be eligible for.
  2. Calculating the PnL, the prize will be matched to the profit made during the activity period.
  3. The top 5 winners will receive up to the prize amount, based on their ranking and profit.

Example: Within the activity period, if you have made the equivalent of 5,100 USDT in profit for the ETH3L/USDT pair and you were ranked 1st place in volume, then you will receive 2,500 USDT.

However, if you have made the equivalent of 1,500 USDT in profit for the ETH3L/USDT pair and you were ranked 1st place in volume, then you will receive 1,500 USDT.

1st Place qualifies you for the biggest prize, and the full prize will be awarded if the matching profit was made. If the profit made was less than the full prize amount, then you will receive less.

The rewards structure is as follows:

Total trading competition rewards:

Total rewards:

  1. 5000 USDT
  2. 5000 USDT

Reward calculation for for each trader in the top 5 of ETH3L/USDT (Ether 3x Daily Long):

The top 5 winners will receive up to the prize amount, based on their volume ranking and profit.

1st Place - up to 2500 USDT

2nd Place - up to 1250 USDT

3rd Place - up to 750 USDT

4th Place - up to 350 USDT

5th Place - up to 150 USDT

Reward calculation for for each trader in the top 5 of ETH3S/USDT (Ether 3x Daily Short):

The top 5 winners will receive up to the prize amount, based on their ranking and profit.

1st Place - up to 2500 USDT

2nd Place - up to 1250 USDT

3rd Place - up to 750 USDT

4th Place - up to 350 USDT

5th Place - up to 150 USDT

Terms & Conditions:

  1. “Trading Volume” is defined as the sum of a trader’s total buys and sells (excluding wash trades) of ETH3L/USDT and ETH3S/USDT pairs on Bitcoin.com Exchange. We calculate Trading Volume in the following way: Trading Volume = Sum (executed buys of ETH3L/USDT and ETH3S/USDT pairs ) + Sum (executed sells of ETH3L/USDT and ETH3S/USDT pairs).
  2. If no profit was made and the trader is in the top 5, they will receive 50 USDT.
  3. Winning traders will be notified by email and rewards will be deposited to their Bitcoin.com Exchange USDT wallets within 3 weeks after the end of the promotion period.
  4. Participation in the $10,000 AMUN 3x Leverage ETH Trading Competition is limited to one trader account per legal or natural person. Persons found to have competed with more than one trader account will be disqualified from the competition.
  5. The $10,000 AMUN 3x Leverage ETH Trading Competition is hosted by FMFW Ltd (the “Bitcoin.com Exchange”) and the terms and conditions of this competition form part of the User Agreement. The Bitcoin.com Exchange reserves the right to cancel the AMUN 3x Leverage ETH Trading Competition or amend its terms or conditions unilaterally without prior notification.
Did this answer your question?