Huobi Global Launches Derivatives Trading Contest with 3 Million USDT Prize Pool to Spur Bear Market Trading
London - July 19, 2022 (Investorideas.com Newswire) Huobi Global, a world-leading crypto asset trading platform under the Huobi Group, today announced the launch of its Derivatives Trading Contest, an event aimed at stimulating trading and encouraging risk hedging. The contest, which will take place on its derivatives trading platform Huobi Futures from July 17 to July 29, 2022, comprises a series of events that will allow participants to share a prize pool worth 3 million USDT.
The Derivatives Trading Contest is tailored toward meeting the needs of both professional and regular traders who favor futures trading. USDT-margined contracts are the designated contract type for the contest, including swaps and futures contracts. Both cross and isolated margin mode are supported.
Current negative market sentiments make contract products a preferred choice compared to spot trading. According to data disclosed in a recent Exchange Review by CryptoCompare, the derivatives market accounted for 64.7% and 61.7% of the total crypto market in April and May this year respectively, an indication that 2022 is starting to see an increase in uptake for speculation and hedging.
"USDT-margined contracts, which use the stablecoin USDT as the margin, allows traders to face lower liquidation risk given the current bearish market conditions, compared to coin-margined contracts," says Huobi Co-Founder Du Jun.
As one of the leading crypto derivatives trading exchanges in the world, Huobi Futures is committed toward offering trading opportunities while mitigating risk for its users. The platform applies a three-phase liquidation mode, in order to protect users from unexpected liquidation.
"The surge in derivatives trading volume that we are observing reflects the enthusiasm of traders who are able to detect profit-making opportunities despite the market downturn. We hope users can be encouraged to take part in this contest and capitalize from the price volatility in a bear market. " adds Huobi Co-Founder Du Jun.
Derivatives Trading Contest Details
Registration time: 12:00 on July 17, 2022- 12:00 on July 29, 2022 (UTC)
Contest period: 12:00 on July 21, 2022- 12:00 on July 29, 2022 (UTC)
Users can participate in the contest either by forming a team with others or trading independently. For team players, the top 10 teams will be able to share a prize pool of up to 2.4 million USDT based on their team's PnL, which will be calculated by tabulating the total PnL of the top 10 players in each team. For individual players, the final rank and rewards will be awarded based on their personal PnL. The top 10 individual players will also get a chance to prize pool of up to 600,000 USDT.
Furthermore, captains of the top ten teams by PnL stand to enjoy an additional 10% of their team's bonus, while the team member who achieves the highest PnL stands to receive 30% of their team's bonus.
Captains will receive a 100 USDT bonus for every 20 members added to the team.
Registered users will receive five badges and five trial coupons for every five new users referred.
To participate in the Derivatives Trading Contest, click here.
About Huobi Global
Founded in 2013, Huobi Global is one of the world's leading cryptocurrency exchanges, with tens of millions of users across five continents and 160 different countries and regions. We are dedicated to empowering financial freedom and creating new global wealth, having led the cryptocurrency industry in spot, derivatives, and Bitcoin transactions for many years. Our infrastructure, operations and offerings are built on processes and standards that prioritize user safety and industry compliance, backed by strong global customer supports underpinned by local expertise. It offers a unique trading environment that is truly customer-first, safe and sustainable for all users, enabling their long-term success. For more information, visit www.huobi.com
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