nINJas are you ready for some great prizes? It’s time to show your trading skills!
We are launching our first ever trading competition on our beloved INJDojo Exchange. The prize pool is reaching up to a staggering amount of 10,000 dollars!
The competition will start on July 20, 2022 at 11 AM EST, and ends on August 17, 2022 at 11 AM EST. Each qualified contestant will win a Genin NFT and all top 11 winners will win a Jonin NFT, which will possibly become an access ticket to something we have in store later on 👀
Good luck my brave nINJas!
Prize pool
The prize pool has a total value of 10,000 USDT and will be divided in 2 trading competition groups:
Group 1: 7,800 USDT
Group 2: 2,200 USDT
Group 1 “Standard Group”:
Group 2 “Lightweight Group”:
And last but not least every qualified contestant will get a Genin NFT!
Trading competition details & examples
For both the standard group and lightweight group, rankings are based on ROI across all pairs during the competition period. The higher your average ROI across all trades, the greater your chances are of winning one of the prices mentioned above.
- ROI = [Final Trading Account Balance — (Initial Trading Account Balance + Net Accumulated Fund Transferred In)] / [Initial Trading Account Balance + Accumulated Fund Transferred In]
- Initial Balance = Trading Account Balance on 20th July 2022 at either 11AM EST (3PM UTC) or the next nearest 11AM EST before 31st July 2022
- Final Balance = Final Trading Account Balance on 17th Aug 2022 at 11AM EST (3PM UTC)
If 2 or more users have the same ROI at the end of the trading competition, the trading volume and max drawdown rate will be taken into account. The ones with higher trading volume and/or lower max drawdown rate will be ranked higher.
Example 1:
The trading account has an initial account balance of $5,000 and $5,000 is deposited to the account after the competition begins. At the end of the competition, $5,000 profit is made and the final balance is $15,000.
ROI = [15,000 — (5,000+5,000)] / (5,000+5,000) x 100% = 50%
During the competition period, withdrawals, deposits and internal transfers are allowed, but in the ROI formula, balance will be calculated based on the sum of accumulated deposit and net internal transfer into your trading account.
Please note that all withdrawals, including withdrawing profits OUT of Injective Wallet will possibly reduce the ROI and affect your ranking.
Example 2:
During the competition, the initial trading account balance is $10,000, a trader makes $1,000 profits and the new trading account balance is $11,000.
Now before the end of the competition, the participant withdraws $3,000 out of Injective Wallet, and the final trading account balance left is $8,000. When counting the ROI, the initial deposit will still be $10,000 and not $7,000.
- ROI = [Final Trading Account Balance — (Initial Trading Account Balance + Net Accumulated Fund Transferred In)] / [Initial Trading Account Balance + Accumulated Fund Transferred In]
- Initial Trading Account Balance = 10,000
- Final Trading Account Balance = 8,000
- Net Accumulated Fund Transferred In = — 3,000
- Accumulated Fund Transferred In = 0
- ROI = [8,000 — (10,000–3,000)] / (10,000 + 0) * 100% = 10%
Qualification requirements
The qualification requirements for Group 1 “standard group” are as follow:
- He or she must complete 3 trades with a minimal trade size of $100 for each trade
- The actual ROI needs to be higher as 5% -> only applies to top 11 winners
The qualification requirement for Group 2 “lightweight group” are as follow:
- He or she must complete 3 trades with a minimal trade size of 10$ for each trade
Miscellaneous
- It’s not allowed to change between the trading groups at the time of the competition. If you would like to be in another group you will need to sign up with an additional account.
- At the end of the competition we will announce the list of winners within 5 working days (mon-fri). The prizes will be distributed to the winning accounts within 15 working days.
- Only trades on https://injdojo.exchange are counted towards the results for this trading competition. Trades performed on other exchanges will be discarded for the trading competition.
- Improper trading patterns, like washing, using multiple accounts to trade multiple times against each other will be disqualified from the competition.
- By participating in this trading competition, participants are allowing that their relevant trading information will be published on the trading competition page.
- Only participants from non-US countries are eligible to join.
- And last but not least a little warning in general: investing in leveraged products are carrying significant risks and is not suitable for all people.
How to join the competition
In order to join the competition the contestant needs an injective wallet. To acquire an injective address you can go to https://injdojo.exchange and click on connect and choose your preferred wallet.
Once you have a wallet please fill out this form before 31th July 2022 11 PM EST to sign up for the trading competition.
Community Resources
- Sign up for the competition: link
- Start trading now: link
- Live help from the INJDojo team on Telegram: link
- Live help from Chinese community on Telegram: link
About INJDojo
INJDojo is an exchange dApp on Injective built by and for the nINJa community. INJDojo.exchange is where nINJas hone their trading skills. Collected trading fees are distributed back to the INJDojo community.
