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Olympics & Crypto: Trading is the Discipline

Denis Goncharenko

The Tokyo Olympic Games are upon us and crypto projects are also joining the fray by celebrating this exciting event with a competitive campaign set to encourage a spirit of friendship that sports embody. The global pandemic might have delayed the long-awaited Tokyo Olympics however, the frenzy and excitement that unites people in competitive sports lives on.

In pursuing the excitement and appeal for togetherness at a time of uncertainty, Phemex platform is launching its own version of competitive Olympic sport to encourage interaction, collaboration, and friendly competition among users.

The Weight Lifters: Where Volume Counts

The first category, 'Weight Lifting', is for the traders who are capable of executing high-volume trading. These are the “heavy lifters'' as they carry the volume of the entire exchange on their backs. Undoubtedly, traders who make huge trades and generate sufficient liquidity for markets to thrive will be pushing ‘light weights’ in this category. A trader in this category will be competing with every other participant in terms of their total trade volume in any one of contract trading pairs.

The ‘Weight Lifters’ will be ranked based on the highest trading volume they generate within the campaign period and winners stand a chance to earn as much as $20,000. In case two participants end up with the same trading volume, the participant who was early to join the campaign wins the ranking position.

The deal breaker is that there will be no acceptance of participants who use APIs. The Phemex Olympics winners will also get the chance to show off their success as all the trading volume data of each participant will be displayed on the competition landing page with incoming updates every 10 minutes.

The Sprinters: It's all about the ROI

The second category 'Sprinters' is for agile trades who are capable of generating a strong return on investment (ROI) in the shortest time period.

For the Sprinters, valid participation will require a minimum of 0.003BTC to register. To win the contest, traders will have a goal of achieving a 500% ROI in the shortest time possible and the first 10 sprinters to hit this goal will be rewarded. In case two winners reach the 500% ROI at the same time, the trader who was early to join the competition will be given a higher ranking.

Also, the Sprinting competition will only be available for BTC/USD pairs, and the ROI of each player will be displayed for all to see on the competition landing page. Unlike the Weight Lifters category, Sprinters who want to use API in this competition category will be allowed. Rewards go as high as $20,000 for the top performer.

As one may see, there are various marketing hints to join the ongoing Olympics hype — and crypto companies are deploying a lot of engaging ideas.

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