A few weeks ago we listed Amun’s 3x leveraged tokens (BTC3L, BTC3S, ETH3L, ETH3S). As our previous leverage competition was successful, we are happy to announce that we are hosting another leverage token trading competition to reward our traders with a great project listing. 🎉

Amun trading competition

How can you participate?

Simply head to our trading competitions page and click on “Apply Now” for each competition, then when trading the 3x leverage BTC/ETH pairs you will automatically be entering the pool of possible winners. At the end of the competition, the top 3 traders with the highest trading volume across all pairs (BTC3L/USDT, BTC3S/USDT, ETH3L/USDT, ETH3S/USDT) will be sharing a prize pool of up to 10,000 USDT.

Please note that we have four separate competitions on Bitcoin.com Exchange for BTC3L, BTC3S, ETH3L, and ETH3S, click the button “Apply Now” to enter the competition.

What are the trading pairs?

BTC3L/USDT (Bitcoin 3x Daily Long)

BTC3S/USDT (Bitcoin 3x Daily Short)

ETH3L/USDT (Ether 3x Daily Long)

ETH3S/USDT (Ether 3x Daily Short)

How long will the competition last?

The trading competition will last for 10 days. It starts on Saturday 01/08/2020 00:00 AM (UTC) and ends 10 days later on Monday 10/08/2020 23:59 AM (UTC).

What and how can I win?

Ranking and prize calculation process:

  1. All participants will be ranked in terms of the total (BTC3L, BTC3S, ETH3L, ETH3S) trading volume traded on their Bitcoin.com Exchange account (including both Buys and Sells) across the BTC3L/USDT, BTC3S/USDT, 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. The top 3 winners will receive up to the prize amount, based on their ranking and profit.
  3. Example: Within the activity period, if you have made the equivalent of 5,100 USDT in profit for the BTC3L/USDT pair and you were ranked 1st place in volume, then you will receive 1,500 USDT. If you entered another competition for example ETH3L/USDT and ranked 1st place in volume as well, you will receive 3,000 USDT in total.
  4. If no profit was made and the trader is in the top 3, they will receive 50 USDT.

Please note that anyone found to be breaking the rules will be disqualified. Traders who try any form of market manipulation in which a user simultaneously sells and buys the same financial instruments (wash trade) to create misleading, artificial activity in the marketplace, will be disqualified.

The rewards structure is as follows:

Total trading competition rewards:

Total rewards:

  1. 2,500 USDT
  2. 2,500 USDT
  3. 2,500 USDT
  4. 2,500 USDT

Reward calculation for each trader in the top 3 of BTC3L/USDT (Bitcoin 3x Daily Long):

The top 3 winners will receive up to the prize amount, based on their volume ranking and profit.

1st Place - up to 1,500 USDT

2nd Place - up to 750 USDT

3rd Place - up to 250 USDT

Reward calculation for each trader in the top 3 of BTC3S/USDT (Bitcoin 3x Daily Short):

The top 3 winners will receive up to the prize amount, based on their ranking and profit.

1st Place - up to 1,500 USDT

2nd Place - up to 750 USDT

3rd Place - up to 250 USDT

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

The top 3 winners will receive up to the prize amount, based on their volume ranking and profit.

1st Place - up to 1,500 USDT

2nd Place - up to 750 USDT

3rd Place - up to 250 USDT

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

The top 3 winners will receive up to the prize amount, based on their ranking and profit.

1st Place - up to 1,500 USDT

2nd Place - up to 750 USDT

3rd Place - up to 250 USDT

Terms & Conditions:

  1. “Trading Volume” is defined as the sum of a trader’s total buys and sells (excluding wash trades) of BTC3L/USDT, BTC3S/USDT, ETH3L/USDT and ETH3S/USDT pairs on Bitcoin.com Exchange. We calculate Trading Volume in the following way: Trading Volume = Sum (executed buys of BTC3L/USDT, BTC3S/USDT, ETH3L/USDT, and ETH3S/USDT pairs ) + Sum (executed sells of BTC3L/USDT, BTC3S/USDT, ETH3L/USDT, and ETH3S/USDT pairs).
  2. If no profit was made and the trader is in the top 3, 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 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 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 Trading Competition or amend its terms or conditions unilaterally without prior notification.

Q&A:

What are Amun’s leveraged tokens?

Leveraged tokens are on a blockchain, they allow similar functionality as other tokens. You can buy, store, and transfer them like any other tokens.

Leveraged tokens are innovative ERC20 assets that can give you leveraged exposure to cryptocurrency markets, without having to deal with margin trade, liquidation, collateral, funding rates. With these tokens, you have the chance to take advantage of market volatility without having to risk your market margin!

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 Ether. Over multiple days the tokens are subject to compounding and will not exactly track 3x or -3x of Bitcoin’s multi-day returns. You can learn more about compounding on Amun’s education page.

What are the benefits of leveraged tokens?

The tokens intend to provide a more convenient and cheaper way of obtaining various types of exposures to crypto. The leveraged tokens aim to remove the hassle associated with taking margin positions on crypto exchanges.

What are the risks associated with leveraged tokens?

These tokens may not be suited for the novice user. It should be said that leverage tokens can lose significant value in a sideways market, and are not intended for long term holding. Before exposing yourself to any financial risks, make sure you understand the mechanisms of these tokens. You must read our articles about leveraged tokens and Amun’s educational section to fully understand how leverage works, especially in terms of rebalancing and compounding.

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. 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%.

Learn more about the mechanism and trading of leveraged tokens here.

AMUN leverage BTC/ETH trading competition
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