Dear BitMax.io Users,
BitMax.io will launch margin trading contest. Details are as follows:
1. Event Time
Signup: 8:00 p.m. EDT on October 7th – 8:00 p.m. EDT on October 9th
Contest: 8:00 p.m. EDT on October 9th – 8:00 p.m. EDT on October 15th
2. Eligibility Rules
1) Users are required to complete KYC V1 in order to be eligible for participation.
2) Collateral in user’s Margin Account must be in the following forms of stablecoin: USDT, USDC, and PAX.
3. Terms & Conditions
During the event, Top 20 users ranked by margin trading return will be eligible to share the reward per following schedule:
1) For users with the same margin trading return, the one with earlier or first signup will rank higher.
2) Reward will be distributed within 7 business days after the conclusion of the contest.
Trading Contest Elimination Rules
1) During the contest, the system will monitor participant's borrowed asset in Margin Account on an hourly basis. If the borrowed asset with non-stablecoins > 0 in Margin Account, the participants will be automatically eliminated from the contest .
2) During the contest, participants with accumulated margin trading volume < 2,000 USDT will be automatically eliminated.
3) During the contest, participants who transfer any assets out from Margin Account will be automatically eliminated.
4) During the contest, users with Net Asset ≤ 0 in Margin Account will be automatically eliminated.
5) Participants eliminated from the contest will not be eligible for any reward.
4. Invite Friends & Both Get Point Card Reward
After signup, users can invite friends to register and participate in the event through the personal referral link. For each referral with successful participation, both the user and the Referral(s) will be eligible for the reward of a point card (worth 5 USDT). Point cards can be used for margin interest repayment.
Note: 1) If the user is disqualified during the contest, both the user and the Referral(s) will not be eligible for the point card reward.
2) Rewards will be distributed within 7 business days after the event.
5. Share BTMX Reward Pool for Correct Prediction of Daily Top Trader
Users who pass KYC V1 verification can pay BTMX to predict the daily top trader among all Top 20 users ranked by cumulative margin trading return with the highest next-day cumulative return. Users who correctly predict the daily top trader will be eligible to share the BTMX reward pool. Details are as follows:
1) Users need to pay 10 BTMX at the minimum for each prediction round. There are no limits regarding the number of traders whom a user can make prediction on or the number of prediction rounds. Prediction cannot be cancelled once made.
2) The users with correct prediction will receive full refund of the BTMX payment. They will also be eligible to share 90% of the reward pool proportionally based on their prediction amount.
3) The rest 10% will be regarded as BTMX consumption, with 5% subject to permanent lock-up and 5% used for release;
4) Users can only make prediction on Top 20 traders by cumulative return at the time of submission. If none of the predictions is correct, all BTMX paid for prediction will be regarded as consumption;
5) It is counted as ONE day from UTC 0:00 to UTC 24:00 (8:00 p.m. EDT to 8:00 p.m. EDT the next day).
6) Prediction result will be announced within 1 hour after the conclusion of next day (UTC). Rewards will be distributed subsequently.
BitMax.io Margin Trading Guideline
Margin trading on BitMax.io is a financial derivative instrument of cash trading. BitMax.io users can leverage their tradable asset for potential higher return on investment. However, they must also understand and bear the risk of potential losses from margin trading.
Margin trading on Bitmax.io requires collateral in order to support up to 3x leverage initially. Users do not need to manually request for borrow or return. When users transfer their BTC, ETH, USDT, and XRP assets to their “Margin Account”, all account balances can be used as collateral.
Click here to view BitMax.io Margin Trading Rules
1. BitMax.io reserves the final right on the interpretation and adjustment of these Terms and Conditions. For any abusing activities, the users will be disqualified from the event once identified.
2. Reminder: Margin trading allows users to increase buying power to potentially achieve higher return with proper risk management. However, with higher market volatility of digital asset, users may also incur much greater losses with use of leverage. Therefore, users should fully understand the risk of trading on margin before opening a margin account and use caution when trading.
Thank you for the continued support.
September 29th, 2019
Telegram Group: https://t.me/BitMaxioEnglishOfficial