Gate.io has launched the first-ever Short-term Options Daily Contest and now provides rewards of 7,000 GT to award users who will perform well in the contest! Holding of Short-term (within 1 hour/4 hours/1 day) Call Options and Put Options is supported. There will be 30 winners each day and a total of 360 winners over 12 consecutive days. All users have a chance to participate and win a Lucky Prize of 300GT!
*Currently, the maximum buying amount is 100 USDT (will increase in the upcoming days).
From 12:00 AM GMT July 16th, 2020 to 12:00 AM GMT July 28th, 2020, for a period of 12 days, with separate contests and rankings for each day.
The competition results over the past 24 hours will be calculated at 00:00 AM GMT each day.
1st prize: 130 GT
2nd prize: 90 GT
3rd prize: 50 GT
4th-30th prize: 10 GT each winner
1) Traders who trade short-term Options during the competition period will automatically be subscribed to the competition.
2) The competition result of the past 24 hours will be calculated at 00:00 AM GMT each day.
3) During the contest, the amount of funds transferred is subject to restrictions. The minimum profit is 50 USDT, ranked according to the profit ratio (profit totals/principal totals). The 1st to 3rd prize will be set as 130GT, 90GT, and 50GT, with winners ranking 4th to 30th being awarded 10GT.
4) The number of daily Options orders should be between 1–40 (orders that are cancelled before striking are not included).
4. 300 GT Lucky Draw
1）The Lucky Draw is open to any user who trades short-term Options during the campaign and makes a daily profit more than $50 USDT.
2) Winners of the competition are twice as likely to win the Lucky Draw.
3) To ensure a fair and transparent result, the entire Lucky Draw process will be recorded as a video clip, which will be published on Gate.io’s social media platforms afterwards.
1) The earnings from the competition will be calculated based on the accumulated earnings from the BTC/USDT contract trading (including unrealized losses/earnings, realized losses/earnings, trading fees and other handling fees etc.)
2) Principle = original account balance + subsequent transferred-in funds
3) To ensure fairness of the competition accounts with abnormal trading activities (e.g. use of other accounts to distribute earnings) will be excluded. The prizes will be distributed to the next trader based on their ranking.
4) Each KYC user is allowed to participate only once, and users participating in the contest or manipulating a contract price via multiple accounts will be disqualified.
5) Risk warning: Please note that the cryptocurrency market is extremely volatile. Please be aware of the market risks and choose the amount of leverage cautiously.
6) To learn how to trade Gate.io Futures, please go to the Trading Simulation Area for more practice.
How to trade Options
Users can go to the home page of Gate.io, head over to ‘Derivatives’ under the navigation bar, and click ‘Short-term Options’ under ‘Derivatives’
Or directly head over to https://www.gate.io/short-term-options/BTC_USDT
The BTC/USDT options trading is currently only available on Web; mobile users will get access to this feature soon, after our next App upgrade.
Simulation trading: https://www.gate.io/testnet/short-term-options/BTC_USDT
About Options trading
An Options contract offers the buyer (the owner or holder of the Option) the opportunity to buy the underlying asset or not. With Options, the buyer is able to buy the underlying asset at the strike price to make a profit and can simultaneously choose to not buy the asset to reduce losses. However, for the seller who has sold the Option and received the premium from the Options buyer, there is an obligation to sell the underlying asset as stated in the Options contract. Unlike traditional financial instruments such as spots and futures, Options are contracts which grant rights but incur no obligations.
For more information on Options, please read:
Gate.io Cryptopedia: What Are Options
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