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Demex Exchange has launched its new $NEO Perps market. To celebrate this milestone, Demex has partnered with Neo Blockchain to host a $NEO Trading Challenge, inviting participants to compete for a share of a US $3,000 $GAS token prize pool. The competition will run from March 14, 9:00am to March 28, 9:00am (UTC).
Perps, short for perpetual futures, are a type of derivative trading product that allows traders to speculate on the future value of an asset without an expiration date. Unlike traditional futures contracts, which have a specific expiry date, perpetual futures can be held indefinitely.
$NEO Trading Challenge
The competition consists of two mandatory tasks and two bonus tasks, with each task requiring completion before the next is unlocked. The tasks are as follows:
Task 1: Registration and custom hashtag
To register, participants must connect their wallet and generate a custom hashtag on the Demex platform. It must then be tweeted from the user’s Twitter account.
Task 2: Trading
Participants must then use Grouped Token (USD) to execute three trades on the $NEO-PERP market. Completing this task will earn participants $10 worth of $GAS tokens. To qualify, users must have a minimum balance of $100 in their Demex wallet.
For those seeking larger prizes, two bonus tasks are offered as follows:
Task 3: Leaderboard Contest
Participants can continue trading on any Perp market to compete for a spot in the top 5 on a competition leaderboard. Traders will be ranked by profit and loss, with the top five winners earning equivalent prizes in $GAS tokens as follows:
- 1st place: $300
- 2nd place: $250
- 3rd place: $200
- 4th place: $150
- 5th place: $100
Traders can also earn boosts by referring friends, receiving a 1% increase in PnL % for each successful referral. Each referee must deposit $100 into Demex to qualify.
Task 4: Lending bNEO
Finally, users can lend bNEO on Nitron, Demex’s money market, to claim an additional $10 worth of $GAS tokens. This task is limited to the first 50 participants.
As a safety net for participants, the first 25 registered traders with negative PnL at the end of the campaign will receive rebates of up to $20 worth of $GAS tokens.