Trading Competition Terms

Last modified: October 9, 2024

1. General Overview

LeverageX is hosting two trading competitions with a total prize pool of 10,000 USDT. The competition is split into two parts: - First Competition on the Base Sepolia test net, with a prize pool of 3,000 USDT. - Second Competition on the Base mainnet, with a prize pool of 7,000 USDT.

2. Competition Structure

Each competition will have six winners: - Community Winners: The three communities with the highest combined trading volume. - Individual Winners: The three individual traders with the highest profit.

2.1. First Trading Competition (Base Sepolia Testnet)

Prize Pool: 3,000 USDT. - Community Trading Volume Winners: 1,500 USDT. - Individual Profit (P/L) Winners: 1,500 USDT.

Community Winners: - Place 1: 1,000 USDT. - Place 2: 400 USDT. - Place 3: 100 USDT.

Individual Traders Winners: - Place 1: 1,000 USDT. - Place 2: 400 USDT. - Place 3: 100 USDT.

Participation Requirements: - Each participating wallet/user will receive test net tokens worth 10,000 USD to be used as collateral. - The tokens will be split into three different assets: xWBTC (33%), xWETH (33%), and xUSDC (33%), and will be sent to the participant's wallet until the start of the competition. - A wallet address can receive trading funds only once - Users are allowed to participate with multiple addresses

2.2 Second Trading Competition (Base Mainnet)

Prize Pool: 7,000 USDT. - Community Trading Volume Winners: 3,500 USDT. - Individual Profit (P/L) Winners: 3,500 USDT.

Community Winners: - Place 1: 2,500 USDT. - Place 2: 800 USDT. - Place 3: 200 USDT.

Individual Traders Winners: - Place 1: 2,500 USDT. - Place 2: 800 USDT. - Place 3: 200 USDT.

Participation Requirements: - No tokens will be provided in this round; participating traders must use their own funds as collateral.

3. Community and Team Setup

- Participants can set up trading communities or participate in an existing one; the first person to set up the community will be the community leader. - To be part of a community is necessary to take part in the competition. - Minimum Team Size: Each community must have at least one member. - Maximum Team Size: Each community cannot have more than 100 members. - Team Setup: A community owner leads the community, and the other participants are team members. - Prize Allocation: The Community Owner can decide how to split the prize money between the team and themselves. Once the percentage split is set, it cannot be changed. - Once a participant chooses a trading community, he cannot change to another community with the same address.

4. Competition Timeline

• 1st week Onboarding - KW40: Tuesday, 1st Oct 10:00 am UTC (= 12:00 am CEST) - Tuesday, 8th October 10:00 am UTC

• 2nd/3rd week Trading and Join - KW41-42: Tuesday, 8th Oct 10:00 am UTC (= 12:00 CEST) - Tuesday, 22nd October 10:00 am UTC

• 4th week Only Trading / no Join - KW43: Tuesday, 22nd Oct 10:00 am UTC (= 12:00 CEST) - Tuesday, 29th October 10:00 am UTC

5. Competition Information

The official competition leaderboard at https://leveragex.trade/competition, contains all relevant information about the competition, including the leaderboard and updates. Participants are encouraged to check the leaderboard regularly for updates regarding standings and prize distribution.

6. Trading Rules

For a trade to be counted towards the competition, it must remain open for a minimum of 60 seconds.

Trading Bots

The use of trading bots or any automated systems to place or manage trades is strictly prohibited. Any participant found using such methods will be disqualified from the competition. LeverageX reserves the right to investigate and take necessary actions if suspicious trading activity is detected.

The total trading volume of a community is calculated as the sum of all individual trades within that community that remain open for longer than 60 seconds.

Addresses or traders that send or receive test funds (xTokens such as xWBTC, xWETH, or xUSDC) from or to other wallets during the competition will be disqualified from participating.

7. Eligibility

The competition is open to all users of LeverageX who meet the platform’s general terms of service. LeverageX reserves the right to disqualify any participant found violating the rules or engaging in unfair practices.

8. Prize Distribution

Prizes will be distributed within 14 days after the competition ends to the ETH address the winners have used within the trading competition. Community and individual prizes are split as outlined in the competition structure.

9. Legal Disclaimers

LeverageX is not responsible for any loss or damage incurred during the competition. Participants are responsible for ensuring their eligibility to participate in the competition under their jurisdiction’s laws. The value of USDT prizes may fluctuate, and LeverageX is not liable for any potential changes in value.

10. Decentralized Platform Disclaimer

LeverageX is a decentralized project, and as such, there is no official customer support or direct contact. Participants are responsible for managing their own trades and accounts. All information, including updates and competition details, will be provided through the platform's official communication channels.

11. Amendments

LeverageX reserves the right to amend these terms and conditions at any time. Participants will be notified of any significant changes.

12. Eligibility Requirements

In addition to meeting the platform’s general terms of service, participants must meet the following eligibility requirements: - Certain geographical restrictions apply. Please refer to the excluded jurisdictions outlined in the general terms and conditions of LeverageX. - Participants must comply with any local age restrictions or other legal requirements based on their location. - LeverageX reserves the right to disqualify participants from jurisdictions where trading competitions are not legally permitted.

13. Risk Disclosure

Leveraged trading involves a significant risk of loss, and participants should only trade with funds they can afford to lose. LeverageX is not responsible for any losses incurred during the competition, including those arising from technical issues, platform downtime, or internet interruptions.

14. Tax Obligations

Participants are solely responsible for reporting and paying any taxes due on prize winnings in accordance with the laws of their country of residence. LeverageX is not liable for any tax-related issues that may arise from a participant’s prize winnings.

15. Data Usage and Privacy Policy

By participating in the competition, participants consent to the use of their trading data for marketing, reporting, or analytical purposes. LeverageX will ensure that all data usage aligns with the platform’s privacy policy, and user data will be securely protected in compliance with applicable data protection laws.

16. Dispute Resolution Process

In the event of a dispute, participants may file a complaint by contacting LeverageX support. LeverageX will review all complaints and take reasonable steps to resolve the issue. The decisions made by LeverageX regarding disputes are final and binding.

17. Governing Law

These terms and conditions are governed by the laws of the British Virgin Islands (BVI), and any disputes arising from this competition will be subject to the exclusive jurisdiction of the courts of the British Virgin Islands.