The first weekly Morphex trading competition, with over $10,000 in prizes!
We’re excited to be able to announce that the first Morphex trading competition will be live this coming Wednesday (March 22nd)!
First off, let’s do a quick recap of the Morphex platform’s progress in less than 2 weeks since launch:
- Over $40,000,000 in total trading volume reached
- Over 2,500 total users interacting with our protocol
- Over $100,000 open interest reached
- Over $85,000 in protocol revenue generated
We’ve been able to crush milestone after milestone, and are extremely grateful to all our supporters and users!
As we’ve been able to gather a sufficient initial amount of liquidity in MLP since launch, we’re excited to be able to announce the framework for which trading competitions will be held on the Morphex platform.
Trading competitions will be recurring and held weekly (not just a one-off event). Each competition will begin on a Wednesday, with reward/rebate distributions happening after the previous week’s competition has finished.
A leaderboard page will be live on the Morphex interface within the next few days, allowing all users to be able to view the current trader statistics. The ability to share your position on Twitter will also be live this week.
Any user will be able to take part in these competitions, and trades opened/closed on Morphex within the competition’s date range (each week, beginning from Wednesday) will be eligible for prizes.
Morphex trading competitions will consist of 3 different prize categories:
- Volume rewards
- Top 3 percentage profits for a single trade (or ROI in %)
- Top 3 cumulative percentage profits over the competition period
These categories apply only to margin trading.
Percentage profits are defined as (profit) / (collateral) * 100%. The collateral value used will be the highest collateral recorded from opening the position to closing.
These will be the prizes for the first week of our trading competition:
Volume rewards:
- Traders will receive 0.075% of their volume as rebates in esMPX
To qualify, a minimum volume of $10,000 must be generated over the week. Once the esMPX is distributed, it can only be staked for rewards (esMPX + FTM + MPs). Volume is calculated as the position size when closing your position.
Top 3 percentage profits for a single trade (ROI in %):
- 1st place: 2000 MPX + 2500 FTM
- 2nd place: 1500 MPX + 1800 FTM
- 3rd place: 1000 MPX + 1200 FTM
To be eligible, the collateral for the given trade must be at least $100.
Top 3 cumulative percentage profits:
- 1st place: 2000 MPX + 2500 FTM
- 2nd place: 1500 MPX + 1800 FTM
- 3rd place: 1000 MPX + 1200 FTM
Cumulative percentage profits are defined as the sum of your trade percentage PnLs. As an example, if you were to close your first trade with a percentage PnL of 50% and close your second with a percentage PnL of -20%, your cumulative percentage profits would be 30%. Only trades opened with a collateral value of at least $100 will be eligible.
Other rules:
- This first Morphex trading competition will run from Wednesday, March 22nd, 00:00 UTC to Wednesday, March 27th, 00:00 UTC. Competition periods reset every week starting from Wednesday 00:00 UTC.
- These are the prizes for the first week of Morphex trading competitions, they are subject to change in future competition rounds.
- All trades must be performed on the Morphex platform through the interface — https://www.morphex.trade/
- The core contributors reserve the right to further review and potentially disqualify any contestants if deemed to not be in good faith of the competition or malicious.
To begin your trading journey on Morphex:
- Trading interface: https://www.morphex.trade/trade
- Trading guide: https://docs.morphex.trade/trading-guide
Our socials:
- Discord: https://discord.gg/morphexftm
- Telegram: https://t.me/MorphexFTM
- Twitter: https://twitter.com/MorphexFTM
