Perpie Challenge $25,000 | #2
Yea we know, you just got your rewards from Perpie’s previous challenge and here we are telling you about a whole new challenge!
But we want you to grow with Perpie and Perpie to grow with you 💜
Details:
Duration: 13/03/24–18/03/24 (5 days)
How: Very similar to the previous challenge, simply, by trading with Perpie, you will earn Challenge Points.
How to earn challenge points:
Volume: Your trading volume during the challenge
Total Volume: Total volume by all users during the challenge Your Challenge Points: Volume / Total Volume X 100
Example: Perpie Cat traded $1,000,000 in volume, and the total volume is $10,000,000. Perpie Cat has: 1,000,000$ / 10,000,000$ X 100 ⇒ 10 Challenge Points Those 10 Challenge point worth: 25,000$ * 10% ⇒ 2500$!
Bonus
You can significantly increase your challenge points in two simple ways:
P&L Bonus: Your positive P&L will act as multiplier points for your overall trading odds. Example: If your challenge points amount to 10 (10% of the pool rewards) and your P&L is 50% (Good job!), then your challenge points will increase to 15 (15% of the pool rewards).
Trading Streaks: Your trading volume gets a 50% multiplier for each consecutive day you trade! Example: If you traded with $1M yesterday and $600K today, your total volume doesn’t just sum up to $1.6M. Instead, it increases to $1.5M (yesterday’s $1M plus 50%) plus today’s $600K, giving a total of $2.1M. Note: For a day to count as a streak day, it must have a volume equal to at least 60% of the previous day’s volume size.
Caveats
We are continuously working to establish a fair mechanism that respects all reliable participants in our challenges.
In this competition, we’ve introduced a feature called the “Neutral Interval.”
What does this mean? We’ve defined an optimal duration for trading, or the interval between trades. Any trade occurring within this interval will negatively affect its volume.
Example:
Neutral Interval: 12 hours
Two trades have been done, trade A (1000$ volume); trade B (1000$ volume)
Case 1: Trade B occurred 3 hours after trade A. Therefore, the volume of trade B would be calculated as 1000 X (3 hours/12 hours), resulting in $250. Consequently, the total volume would be $1250 (A + B).
Case 2: Trade B occurred 6 hours after Trade A. So, the volume of Trade B would be 1000 X (6 hours / 12 hours), which equals $500. Thus, the total volume would be $1500 (A + B).
Case 3: Trade B was initiated immediately after Trade A closed, but its duration lasted 10 hours! In this situation, we will consider the duration of Trade B rather than the interval. Consequently, the volume of Trade B would be calculated as 1000 X (10 hours/12 hours), which is $833. Thus, the total volume would be $1833 (A + B).
Additionally, Perpie will randomly select a timestamp to end the competition on the final day. This strategy aims to deter traders from executing significantly large trades at the last moment.
Perpie will also conduct a manual check at the end of the competition to identify any potential malicious wash trading activity.
