Synths Trading Contest 02: Daily Rank Rewards!
Download WaykiTimes to participate in our Second Synth Trading Contest: https://play.google.com/store/apps/details?id=com.wicc.waykitimes
During December 23 through 30, 2020, “The First Synths Trading Contest with Prizes for All” was held. Community users actively traded synths of crypto, stock indices, and US stocks and gave us positive feedback!
To further meet the trading needs and competitive spirit of users, after making improvements to the synths trading contest, WaykiChain launches Synths Trading Contest 02 “Trade Synths for Daily Rank Rewards”. We welcome everyone’s active participation. Experience the immersive trading!
A synth is a digital asset created according to the price of a benchmark asset. Synth trading is a financial activity that does not involve holding real assets. It is executed automatically in a smart contract, has unlimited depth, zero slippage, is open and transparent. Know more
[Target Audience]
All WaykiTimes users
[Time]
12:00 PM January 20–12:00 PM February 1, 2021 (HKT)
[Rules]
1. Trading assets are limited to synths with open markets;
2. Calculation of participants’ yield during the contest:
a) yield = profit during the contest / capital during the contest × 100%;
b) profit during the contest = the current synth value — (xUSD deposits during the contest — xUSD withdrawals during the contest) — synth value at the contest start;
c) capital during the contest = synth value at the contest start + xUSD deposits during the contest.
Note: Synth value at the contest start is the total value of synth and xUSD holdings. The value of synth holdings is calculated by synth value at the contest start. The formula of daily yield is consistent with the total yield.
3. Users are ranked by total yield and daily yield during the contest. The ranks update every hour.
4. Data for the total yield rank is collected from 12:00 PM Jan 20 till 12:00 PM Feb 1 (HKT). Top 20 users get the respective rewards;
5. Data for the daily yield rank is collected from 12:00 PM the day before till 12:00 PM this day (HKT). One user with the highest daily yield gets 10,000 WGRT;
6. Rank Requirements:
a. Total Yield Rank:
1) the user’s synth value is not less than 50 xUSD;
2) the user’s total synth trading volume is not less than 300 xUSD;
3) the user has traded at least 3 synths.
b. Daily Yield Rank:
Trading volume of the given day is not less than 30 xUSD.
7. Reward Distribution
The WUSD and WGRT rewards and trading fee rebates will be sent to WaykiChain wallets of the qualifying users within one week after the contest ends.
[Rewards]
1. Total Yield Rank Rewards
Rewards for Top 20 users by total yield:
2. Daily Yield Rank Rewards
One user with the highest daily yield gets 10,000 WGRT. One user is rewarded daily.
3. Trading Fee Rebates
We return 50% of trading fees to users whose total synth trading volume reached 100 xUSD during the contest.
Note: One participant can receive both total yield and daily yield rewards. All qualifying users get the 50% trading fee rebate.
[Important Information]
1. The winner list will be announced in WaykiChain community within one week after the contest ends;
2. WGRT rewards are subject to lock-up. WGRT will release in advance when BTC price reaches USD 55,000;
3.WaykiChain team has the right to cancel prizes for cheaters;
4.WaykiChain team has the right to the final interpretation of the contest.
Telegram: https://t.me/wiccofficial
Twitter: https://twitter.com/wayki_chain
