Announcement of PT Arena IV and prizes worth $750,000
Phemex Trader’s Arena IV, the 4th installment of one of the most popular crypto trading competitions, is coming up. During this fierce trading competition, several teams participate and battle for the ultimate prize pool worth up to $750,000.
By the end of this exciting event, there will be a prize distribution held for teams as well as individual traders. In the past, PT Arena competitions only counted inverse BTCUSD contract trades, but not this time. During PT Arena IV, all contracts available on the Phemex platform can be traded and counted.
Since all contracts are considered, traders may earn ROI on both their BTC and USD trading accounts. Any team’s final ROI is going to be calculated based on whichever is found to be the higher of the two (either BTC or USD). Whereas individual rewards are to be calculated through aggregate PnL across both USD and BTC trading accounts.
The prize pool and its structure will remain the same as previous PT arena competitions but there is an added bonus reward for those who deposit funds into their contract trading account while the registration period is still ongoing.
Nov. 25th 2021 – Dec. 9th 2021: Captain and Team Registration Period
Dec. 9th 2021 8 AM UTC – Dec. 24th 2021 8 AM UTC: Competition Period.
Dec. 24th 2021 – Jan. 7th 2022: Award Distribution
USD Prize Pool for All: Details
The prize pool amount directly depends on the total number of participants who join the competition. The more participants who enter PT Arena IV, the bigger the prize pool.
Team Size and Captain Rewards: Details
During this edition of the Phemex Trading Competition, Team Captains will receive rewards based on their team’s size. Team Captain has to form a capable team of at least 10 members to participate in the competition. They will receive rewards that vary depending on the team’s size.
Deposit Rewards: Details
These deposit rewards are the newest addition. Participants will receive trading bonuses for making sufficient deposits in their contract trading account. These deposits must be made during the registration period. All of these bonuses will be distributed after the competition has concluded.
Deposit bonuses for BTC or USDT deposits are as follows:
The Competition Format
Anyone can become a Team Captain by recruiting enough individual traders. Any trader who qualifies for the competition is free to choose to join any team and follow any team captain.
Teams must have at least 10 members. Any team that does not have enough members will be disbanded before the competition starts. Members then get assigned randomly to other teams.
The ranking of each team depends on the ROI of their top 10 traders. Other team members also get the chance to be ranked and receive individual rewards. However, individual rewards depend on profit and losses instead of the ROI.
Further details about PT Arena IV.
The ultimate prize pool is divided into two separate award categories as mentioned earlier: Team awards and Individual awards.
Team awards make up for the majority (up to 78%) of final prize pool and its breakdown is as follows:
Individual awards represent 22% of the final prize.
Users can only participate using a single account. The email address entered to join the event should be connected with a valid Phemex UID.
Make sure to check case sensitivity while providing your email address.
After the competition starts, if a user’s BTC trading account has a total value less than 0.005 BTC or their USD trading account has a net value less than $200, then the initial value will be calculated as .005 BTC or $200 respectively.
Here are the rules, prize breakdown, and other requirements for PT Arena 4.Source