The Christmas holidays are still underway and OKEx, a cryptocurrency exchange wants to make it even better. The HongKong-based exchange announced a giveaway on December 25. This is a competition that will see to the star prize winner going home with a Dynali H2S helicopter. As expected, this has created a wave of excitement amongst crypto enthusiasts.
Be the Best Trader, and Fly Home a Helicopter
The competition which OKEx calls, “Be the Best Trader, and Fly Home a Helicopter” has been scheduled to begin today, December 26 to January 3, 2019. All that is required is for a trader to make the highest profit in comparison with that of other traders and they might as well be flying their way across continents before this time next year.
The best part is, there are other prices in form of Tether tokens to be won and we can say, they’re just as attractive. Prices cut across the top 30 traders within the 8 days period and asides the helicopter, a trader who falls under this category can walk away with a 3,000 USDT, 1,000 USDT, and 300 USDT respectively.
Rules For OKEx’s Competition
Like every competition, there are rules and guidelines to be met in order to emerge the winner. OKEx has stated that the winner will be determined based on a Profit Rate (PR) calculation. The Profit Rate is a measure of the futures PR + Perpetual Swap PR * 2, and all divided by 2. In a simpler context, the amount transferred in and out of the system, as well as the account equity before and after the competition, will be the judging metrics.
To ascertain the progress of the event, a ranking system will be revealed at the end of each day of the competition. This will encourage others to join and those who aren’t doing better to put in more effort. But then, the spectators of this event may derive more pleasure while viewing the bulletin board to see who has the highest potential to get OKEx’s Jet.
Risks Associated With Trading During the Volatile Period
While each of these sounds good, there is a level of risks that are involved in trying to trade these digital currencies, especially at their most volatile period. Bitcoin has been going sideways this Christmas after showing some green light. Nevertheless, one can expect that profesional traders who have been up and about the system will be the most active participants in this competition.
In all this, what does OKEx stand to gain? One may wonder. Obviously more trades within the given time frame and more people willing to trade despite the volatile nature of the current market. Apart from this crypto exchange, Coinbase has also begun its 12 days of Christmas event and has been adding new features on its Platform since them.