Celebrating $20 Billion in Trading Volume: Introducing HMX’s Trading Competition

Dragons,

To celebrate our platform’s milestone of $20Bn in total trading volume, we are launching an inaugural trading competition for our communities with the total rewards of 40,000 PYTH (~$36k USD).

Campaign starts this Thursday and will run for 2 weeks. Read on below for` all the details.

Prize Pools 🏆

The competition will be held under two categories with the following prize pool.

1. Highest Notational PnL (Total Pool Prize = 30,000 PYTH)

• 1st Prize: 12,500 PYTH
• 2nd Prize: 6,250 PYTH
• 3rd Prize: 3,000 PYTH
• 4th Prize: 1,500 PYTH
• 5th Prize: 1,250 PYTH
• 6th — 16th: 500 PYTH

2. Highest Percentage Return (Total Pool Prize = 10,000 PYTH)

• 1st Prize: 4,000 PYTH
• 2nd Prize: 2,000 PYTH
• 3rd Prize: 1,000 PYTH
• 4th Prize: 750 PYTH
• 5th Prize: 600 PYTH
• 6th — 16th: 150 PYTH

You will be able to track your progress on our live leader board on Dune.

Competition Rules:

• The Competition will run for two weeks from 00.01AM UTC 4 April to 11.59PM UTC 17 April 2024.
• You do not need to sign up to participate. All trades on HMX Arbitrum during the competition period will automatically be considered.
• Trades already opened before the start of the competition period will NOT COUNT towards the competition PnL. Only positions opened after the competition period will be counted. The PnL from the adjustments to the existing position (increase/decrease size) prior to the competition start date will also not count towards the competition. To ensure your PnL is counted towards the competition, please open a fresh new position.
• Profits are counted for ALL positions opened AFTER the competition date — i.e., the value of open positions, partially closed, and fully closed positions at the end of the competition period.
• The PnL of open positions (including the PnL of remaining opened positions of partially closed positions) will be snapshot at the end of the competition period (11.59PM UTC 17 April 2024)
• The PnL of the full closed positions will be calculated at the time of position closing.
• Profit and Loss will be calculated in USD net of all the fees paid.
• Profit and Loss will be combined for all sub accounts under the same wallet addresses.
• Highest % Return will be calculated using the formula:
  — (Total PnL) / (Max Adjusted Collateral value); where Adjusted Collateral Value is the collateral value at the beginning of the competition period + deposits value during the competition period. This means that if you withdraw your collateral and re-deposit, your Adjusted Collateral Value will only increase, as the Adjusted Collateral Value will not take into account any withdrawals. We will take a daily snapshot of your Adjusted Collateral Value and use the max value during the competition period as the denominator to calculate for your % return.
• Adjusted Collateral Value must be at least $500 USD to qualify for consideration in the Highest % Return category. Note that we will use the daily average price of your collateral asset to determine your collateral value.
• The team reserves the right to disqualify any address at their sole discretion, in case violations of ‘Fair Play’ and/or trading activity are identified that do not follow the intent of the contest — including multi-account trading or manipulating markets to achieve specific results.

Official HMX Links 🐉:

Below are the official links for HMX:

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