This week, PointPay introduced Trading Competitions in a fresh and exciting format, and we're here to provide you with all the details! But be aware, the current competitions are already in full swing, so don't miss out on the opportunity to participate!
The most significant change is that Trading Competitions are no longer obscure technical information hidden within the system and inaccessible to users. Instead, they now have their own dedicated section on the website and in the applications. This new section encompasses all the essential information for participants:
- The trading pairs involved in the competition, with quick access links to each pair.
- The duration of the competition.
- A comprehensive list of prize rankings and rewards.
- An up-to-date leaderboard that dynamically reflects the current results.
The competition rules have remained largely unchanged from before. The primary objective for participants is to accumulate a higher trading volume for the specified pairs than their fellow competitors. This can be achieved within a specific timeframe, which may vary for each competition. Currently, competitions are scheduled to run for a period of 7 days, from Monday to Monday.
Participants are free to trade with any of the pairs specified for the competition. While Bitcoin remains the most popular cryptocurrency, we have decided to use it as the base asset for the trading pairs in these competitions. However, in our revamped competitions, we have the flexibility to adjust the number and composition of pairs without any limitations. As a result, expect thrilling competitions featuring various assets shortly!
When you trade the competition pairs on the PointPay exchange, your trading volume is meticulously recorded and securely stored in the database. You can conveniently track your progress and performance by viewing the leaderboard on the competition tab, which is updated in real-time.
Once the competition concludes, the most eagerly anticipated moment arrives – the distribution of rewards! Following the recent changes, Trading Competitions now offer double the rewards! In addition to the ultimate winner, we have introduced extra prize rankings as follows:
- 1st place - 5,000 PXP
- 2nd place - 3,000 PXP
- 3rd place - 2,000 PXP
Rest assured that the rewards will be automatically credited to the winners, enabling them to utilize their PXP rewards almost immediately after the competition round concludes.
Please take note that multiple competitions may run simultaneously, providing participants with even more opportunities. Also, it's important to highlight that participation in a competition is not automatic. If you desire to compete for the prizes, you must explicitly declare your intent by clicking the "Take part" button on the competition tab.
Instructions for Trading Competitions
To access the new dedicated tab, simply expand the Trade dropdown menu and locate the "Trading Competitions" option.
Inside, all competitions are neatly organized into categories. For example, Card 1 displays competitions specifically for trading pairs with BTC, offering an enticing grand prize of 5,000 PXP. Notice the green "Active" label at the top of the card, indicating ongoing competitions within this category!
To simplify tracking of individual performance in completed competitions, we have introduced a dedicated "History" tab (2). Here, you can find a comprehensive list of competitions in which you have participated, conveniently sorted from the most recent to the oldest.
To participate in a competition, simply click the arrow icon. This will reveal a dropdown list of competitions within the selected category.
Click on "Choose" next to the currently active competition, and you will be directed to a page providing a detailed description of the competition.
Block 1: Here, you will find an overview of the competition, including its description, duration, and the time remaining until the results table updates. Additionally, you will see the "Take part" button, allowing you to join the competition, and the "Trade" dropdown menu, which provides quick access to all the relevant trading pairs for the competition on the PointPay exchange.
Block 2: This section showcases the leaderboard table, where all participants of the competition are listed and ranked based on their current trading volume. By referring to the table, you can easily gauge your chances of securing a prize or determine if you need to step up your trading efforts. Moreover, to the right of the leaderboard, you will find another section displaying the prize rankings and the rewards associated with each position.
Once a competition concludes, rewards are automatically credited to the winners, and the competition status changes to "Finished," subsequently appearing in the participants' history.
For mobile applications, the process follows a similar pattern to the web version. The "Trading competitions" tab can be accessed on the "More" screen, within the "Trade" section.
We wish you the best of luck in the competitions and hope you secure a rewarding position!
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