ApolloX Will Launch the King of Degen Trading Event

Dear ApolloX Users,

ApolloX has revamped the Trading Leaderboard and replaced it with the King of Degen trading event. We have removed the requirement to mint and hold veNFT, and implemented changes such as tiered weekly realized PnL (excluding trading fee) criteria and tiered APX rewards.

Users can only trade Degen Mode perpetual pairs on BNB Chain V2 (Check out this doc for more information on Degen Mode). For this event, we will repurchase APX tokens from the secondary market to reward users, which will not increase the circulating supply.

The first epoch will start from 13 Nov 2023, 00:00 (UTC) to 19 Nov 2023, 23:59 (UTC). Each epoch will last for 7 days, defined as every Monday 00:00 (UTC) to every Sunday 23:59 (UTC). Traders who fulfill the weekly realized PnL (excluding trading fee) criteria will win APX rewards.

Activity Period

13 Nov 2023, 00:00 (UTC) — 19 Nov 2023, 23:59 (UTC)

Activity Rule

• Only realized PnL (excluding trading fee) from trading Degen Mode perpetual pairs on BNB Chain V2 is counted toward your weekly accumulated realized PnL (excluding trading fee).
• You can choose to trade via ApolloX platform or ApolloX dApps on supported Web3 wallets.

Reward Structure

• Traders who fulfil the criteria of more than 50,000 USD weekly realized PnL (excluding trading fee) will be placed in tier 1. Only one trader with the highest weekly realized PnL (excluding trading fee) will win 30,000 USDT worth of APX.
• Traders who fulfil weekly realized PnL (excluding trading fee) in tier 1 but did not win tier 1 reward will be automatically placed in tier 2. These traders along with those who fulfill the criteria in tier 2 will be able to share 6,000 USDT worth of APX equally.

e.g. 4 traders who fulfill tier 2 weekly realized PnL (excluding trading fee) criteria and 2 traders who fulfill tier 1 weekly realized PnL (excluding trading fee) criteria but did not win tier 1 reward will share 6,000 USDT worth of APX equally;

Each user reward = 6,000/6 = 1,000 USDT worth of APX

• In the event that there are no users who fulfil tier 1 and 2 weekly realized PnL (excluding trading fee), 50% of 6,000 USDT worth of APX will be distributed equally to the top 3 traders with the highest weekly realized PnL (excluding trading fee). This means each user will receive 1,000 USDT worth of APX rewards.

Reward Distribution

• Rewards will be distributed to the winners’ wallet addresses within 7 working days after the end of each epoch.

Terms & Conditions

• Only trades on Degen Mode pairs via BNB Chain V2 are counted toward users’ weekly realized PnL (excluding trading fee)
• Only participants who meet all the requirements will be eligible for the rewards
• ApolloX reserves the right to disqualify trades that are deemed to be wash trades, displaying attributes of market manipulation, bulk-account registrations to farm additional bonuses or any other attempts at fraud
• ApolloX reserves the right to cancel or amend any Activity or Activity Rules at our sole discretion.
• ApolloX reserves the right of final interpretation of this activity.

Risk Warning: Crypto futures trading carries a substantial risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from ApolloX. ApolloX will not be liable for any loss that might arise from your use of ApolloX.