Join MYX $ARB Trading Competition and Win Rewards of $5,000 USDC!

MYX.Finance
3 min readMay 13, 2024

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The MYX “Ordovician Diastrophism” $ARB Trading Competition is live! Join now and you can win a total reward pool of 5000 USDC!!!

This event is designed to provide an opportunity for everyone to learn and practice trading strategies. Showcase your trading strategy, claim rewards, and explore the endless possibilities of the financial markets with us now!

Competition Rules:

Time Duration

  • Starting time: May 13, 2024, 13:00 UTC
  • Ending time: May 20, 2024, 13:00 UTC

Ranking and Rewards

  • Trading Volume Leaderboard:
  • Volume Calculation: The cumulative amount of all valid transactions completed during the competition period, including the total of both opening and closing trades for each transaction.
  • Reward Distribution: The top 18 participants in the trading volume ranking will share a pool of 4000 USDC.
  • Ranking Criteria: In case of a tie in trading volume, rankings will be determined based on the Profit and Loss (PnL) ratio of each participant.
  • PnL Leaderboard:
  • PnL Calculation: The PnL is calculated excluding funding fees and transaction costs, based solely on the actual profit or loss from trading contracts. This ensures the fairness and transparency of the calculations.
  • Reward Distribution: The top 18 participants in the PnL ranking will share a pool of 1000 USDC.
  • Ranking Criteria: In the event of a tie in PnL, rankings will be determined based on the respective trading volumes of the participants.

Competition Calculation Rules:

  • Contract Types: Scores will be calculated based on the volume of $ARB/USDC contract trading on the MYX.
  • Valid Scoring Positions: Only positions opened after the start of the competition will be counted towards the final score.
  • Profit and Loss Calculation: At the end of the competition, profits from open positions, partially closed positions, and fully closed positions will be included in the calculation.
  • Calculation Time Point: Profits from open and partially closed positions will be captured in a snapshot at 13:00 UTC on the last day of the competition.

Reward Distribution Process:

  • Data Collection: After the event concludes, we will compile all participant data within three business days and announce the results.
  • Reward Issuance: Following the announcement of results, winners will receive their rewards airdropped directly to their wallet addresses within three business days.

Policy on Misconduct:

  • Anti-Cheating and Account Security: MYX will strictly review all trading activities on the platform to prevent Sybil attacks and other forms of cheating, such as exploiting loopholes, using multiple accounts, wash trading, or fake transactions. Any detected cheating will lead to disqualification and appropriate actions against the offender’s account.
  • Rule Updates and Interpretation: Please note that MYX reserves the right to amend these rules and will notify the community of any updates or changes through official channels. MYX holds the ultimate authority to interpret these rules. For inquiries or more information, please join our Discord community: MYX Discord.

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