HMX Finale on Blast: A trilogy of Heavyweight in Action, Golden Slam, and Trading Competition
Dragons,
As you might already know, HMX received an additional 10,000 Blast Gold from Blast, and we plan to distribute ALL of it to our users before the final airdrop date of 26th June.
As we are in the final stretch of the airdrop campaign, we want to make give our traders a chance to win Blast Gold by just trading on HMX. We will do this by running three campaigns concurrently, where any trades made on HMX during the period will be eligible to receive Blast Gold, if qualified.
Set to run from June 18th 6AM UTC to June 24th, 6AM UTC, a total of 12,670 Blast Gold have been allocated to these three campaigns.
Below are the details:
Campaign #1: Heavyweight in Action
We are still running the Heavyweight in Action campaign, where traders with the highest TLC balance, generated between June 11th 00:00 UTC to June 24th, 6AM UTC will be ranked.
Two adjustments have been made for this campaign:
- We have moved the campaign end date to June 24th, 6AM UTC, to align it with the two other campaigns
- We have increased the total prize pool from 2,700 to 4,700 Blast Gold
- We have increased the number of qualified participants from top 20 to top 30
With that said, the new revised reward allocation for each ranked trader will be the following
- 1st Place: 2,500 Blast Gold
- 2nd Place: 1,000 Blast Gold
- 3rd Place: 500 Blast Gold
- 4th Place: 150 Blast Gold
- 5th Place: 100 Blast Gold
- 6th — 10th Place: 50 Blast Gold
- 11th — 15th Place: 20 Blast Gold
- 16th to 20th Place: 10 Blast Gold
- 20th to 30th Place: 5 Blast Gold
Remember, Heavyweight in Action campaign has been live since June 11th. Trade now to earn your way to the top rank and earn Blast Gold!
You can check your live standing in the campaign with our leaderboard here.
Campaign #2: Golden Slam
We are bringing back our lottery game, Golden Slam, for our users, where traders have a chance to win Blast Gold for every trade they make on HMX between June 18th to June 24th, 6AM UTC, with over 4,320 Blast Gold allocated.
As a trader, you earn points for every dollar traded on HMX on Blast. The number points you receive will be based on the asset class that you trade:
- BTC & ETH: 25 points per $1 traded.
- Other Cryptos: 55 points per $1 traded.
- Commodities: 55 points per $1 traded.
- FX: 15 points per $1 traded.
For every 1,000 points accrued, you will receive a Gold Pass. Below is a table summarizing the Point Conversion rate for every $1 traded and how much trading volume for each asset class is required to get a Gold Pass:
If you hold a Gold Pass, you have a chance of winning 30 Blast Gold or even more! Below are the conditions:
- Every hour, 30 Blast Gold is added to the prize pool
- For each Gold Pass given to users, 4 other Gold Passes are added to the drawing pool
- For every epoch, which lasts for 1 hour, a Gold Pass will be randomly drawn from the drawing pool
- If the Gold Pass drawn is held by an HMX user, the Blast Gold in that prize pool for that epoch is awarded to that user
- If the Gold Pass drawn is not held by an HMX user, the Blast Gold in the prize pool for that epoch will be rolled over to the next epoch
As more epochs pass, the prize pool grows, as there’s an 80% chance that rewards will be rolled over to the following epoch. Note that winners must claim their prizes within 72 epochs (72 hours); otherwise, the reward will be rolled over into the prize pool of the following epoch.
The golden slam campaign will be held on our lottery page here
Campaign #3: Trading Competition
We are also bringing back our perpetual trading competition, where traders with positive PnL during June 18th to June 24th, 6AM UTC, will qualify for a share of a total of 3,650 Blast Gold.
In order to calculate your share of the prize pool, we’ll use the formula below:
- Your Share of Prize = Prize Pool * (Your ROI / Sum of All Participant’s Positive ROI)
- Your ROI = Your PnL / Max (Your Max Collateral Value, Average Max Collateral Value)
Where:
- Prize Pool = 3,650 Blast Gold
- Your PnL is your PnL accrued over the competition period
- Your Max Collateral Value is the maximum value of the daily snapshot of your collateral value during the competition period
- Average Max Collateral value is the average value of all the maximum collateral value of each of the qualified participants (i.e. participants with positive ROI)
Please note the following competition rules:
- 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 (05.59AM UTC, 24th June 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.
- 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.
Closing Remarks
As we approach the final stretch before Blast airdrops its governance token on June 26th, HMX has allocated all remaining Blast Gold to our users.
As we aim to provide opportunities for our users to earn Blast Gold simply by trading on HMX, ALL trades made on HMX during the campaign period will automatically qualify for all campaigns! Don’t miss out!
Remember, Heavyweight in Action has already begun, while Golden Slam and the Trading Competition will start on June 18th at 6 AM UTC.
Later, dragons! 🐉
