NEO Trading Challenge
14 March, 9:00AM UTC - 28 March, 9:00AM UTC
Competition Details
β
Complete Task 1 (Register) and Task 2 (Earn) to unlock bonus tasks!
We highly encourage a separate account for participation. This is to ensure all transactions involving the USD Grouped Token does not affect your initial equity calculations for your leaderboard standings.
Task 1: Register
Be one of the first 100 participants to register! To register, post a tweet on Twitter with your custom generated hashtag from us.
Task 2: Earn
[Reward: 10 USD of GAS tokens]
To complete this step, registered participants will need to:
Deposit or ensure a minimum balance of 100 USD
Use Grouped Token (USD) to execute 3 trades on the NEO-PERP market
Learn about Grouped Token here
After completing the above 2 steps, you will have unlocked the Bonus Tasks!
π Bonus Tasks
Bonus Task 3: Trade Any Perps
[Reward: Up to 300 USD of GAS tokens]
Participants will be airdropped USD rewards at the end of the campaign depending on their PnL % and ranking. Track your ranking on app.dem.exchange/competition
Winners (and losers!) can either earn rewards or rebates:
Top 5 Leaderboard - Be one of the top 5 participants with the highest PnL ranking by the end of the campaign. The top 5 participants will win the following prizes:
1
300 USD
2
250 USD
3
200 USD
4
150 USD
5
100 USD
Losers Rebate - Be one of the first 25 registered users and earn up to 20 USD rebate if you end the competition with negative PnL
View the full leaderboard calculations here
Boost your standings by referring friends!
Each referral = 1% increase in PnL %
Referees need to deposit 100 USD in Demex to qualify for the 1% increase. Deposit should only happen during the competition period.
Bonus Task 4: Lend bNEO
[Reward: 10 USD worth of GAS tokens]
Be one of the first 50 participants to lend bNEO on Nitron!
Leaderboard Calculations
The calculations for Equity as well as Individual PnL% are as follows:
Equity = Balance + Unrealized Profit and Loss
Individual PnL% = [Final equity - (initial equity + deposit during the competition) ] / (initial equity + deposit during the competition)
Note: Trading fees and funding fees are NOT included in the Individual PnL calculations
Any conversion from USDC/axlUSDC/BUSD to USD, spot trading, withdrawal of liquidity, deposits or transfers of USD resulting in an increase in your USD available balance will affect your initial equity. We therefore encourage a separate account for participation in this competition. Example for calculating initial equity:
User deposits 500 USD -> Initial Equity = 500 USD
User removes liquidity of 300 USD from a liquidity pool -> Initial Equity = 800 USD (500+300)
User receives internal transfer of 200 USD -> Initial Equity = 1000 USD (800+200)
User withdraws 250 USD -> Initial Equity = 1000 USD (Negative outflow does not affect the initial equity)
Hence, all positive inflow of USD will affect your initial equity, while negative outflow will not. Initial Equity is calculated at the start time of the trade.
Terms & Conditions
Demex reserves all rights to the final interpretation of this event.
Demex reserves the right to disqualify orders or trades that are deemed fraudulent, amend any competition rule, guideline or activity at our sole discretion.
All current and new users are eligible to join the NEO Trading Challenge
Kindly note that you are ineligible to participate in this campaign if you are located in these regions.
Prizes will be airdropped to winners as GAS to the Carbon wallet addresses used in the competition, within 90 days from end of the competition.
Competition is limited to the first 100 participants.
Users will need to register to be eligible for rewards and rebates.
All current and new users are eligible to join the event during 13 March 2023, 9:00AM - 27 March 2023, 9:00AM (UTC)
Last updated
Was this helpful?