Cryptocurrency

MCS Year End Trading Tournament: All You Need to Know!

*This is a sponsored post

2021 is about to come to a wrap. With a holiday season across the globe, I found something that would add cherry to the top. Due to latest Omicron variant, BTC has already tanked significantly in December. Trading at $47K as I am writing this one, you know what time it is. Yes, it’s time to buy. For traders, it is the time to leverage the market volatility and swings to make a quick buck.

With that context out of the way, let’s discuss how MCS can help you in doing that. A few blogposts ago we discussed why you should consider trading on MCS and high how you are being rewarded to add money in MCS wallet. This time MCS is back with another bonus for traders to use their platform. Yes you heard it right. MCS Year End Trading Tournament is now live.

Let’s go through some details of the same!

What is it?

As you all know by now, MCS is a derivative only trading platform. Here’s the thing about niching down. You get experts in one domain. And that’s what MCS is trying to do. With target audience as margin traders, the platform aims to vow a lot more of them through this contest.

In this contest, a trader will put their skillset to use to earn maximum profits. Basis the profits earned by a trader, he/she is eligible for the following rewards:

1st Place : 80,000 USDT + 10,000 MCS Token

2nd Place: 50,000 USDT + 6,000 MCS Token

3rd Place: 30,000 USDT + 3,000 MCS Token

4th Place: 15,000 USDT + 1,500 MCS Token

5th Place: 10,000 USDT + 500 MCS Token

6th10th Place: 3,000 USDT each

As evident from above, a total of 200,000 USDT and 21,000 MCS tokens are up for grabs.

Important Dates and Pointers:

  • The pre-registration starts from 15th of December and the event will run from 23rd December, 0600 hours (UTC) to 31st December, 0600 hours (UTC). Rewards will be credited within 7 days after the contest ends.
  • The only eligible market for this contest is MCS BTC. This means you can only make your bets using MCS for Bitcoin or vice versa. Other trades will not be counted for this competition.
  • For eligibility, Net asset >= 0.005BTC. The net asset is calculated as follows: Net Asset = Position Margin + Available Balance + Order Margin + Unrealized P&L
  • Minimum Trading Volume: You must achieve a minimum trading volume of 0.5 BTC during the tournament period to receive the prize. Trading Volume calculation = Entry position value + Closing position value during tournament period.

How are the Trading Profits Calculated?

Well, to keep it transparent, the trading profit calculation is revealed beforehand. Here’s how a a profit is calculated:

Trading Profit = (Final Net Asset – Starting Net Asset – Amount deposited during tournament period + Withdrawal Amount during tournament Period)/ (Starting Net Asset + Deposited amount during tournament period)

* Net Asset = Position Margin + Available Asset + Order Margin + Unrealized P&L

* Deposit = Deposited Asset + Bonus

Terms and Conditions:

These are not your typical TnC that you would checkmark and let it go. A knowhow of these could be a make or break situation in this game.

A. Deposit and withdrawals during the competition can affect the profit percentage.

B. In case of same profit, traders with high trading volume will be given priority.

C. Traders who use unfair methods or engage in acts that interfere with the smooth operation of the event will be disqualified from the event.

D. MCS allows all traders to trade on multiple accounts. However, each trader can only participate in the competition using 1 account. If one person participate in the competition with more than 1 account, participation will be disqualified.

E. All profits from event competition fees will be used to revitalize the MCS Token ecosystem.

F. USDT received as prize money can be withdrawn immediately.

G. MCS reserve the right to change the terms and conditions and cancel the event with prior notice.

Conclusion:

LFG Folks! The price money is involved is huge. Also, if you are a veteran in this industry, you would know that most key exchanges like WazirX took a similar route to become what they are today. So, if taking that enriching journey and collecting the native tokens (MCS) on the way, excites you, this one is a no brainer.

Got concerns?

Let me know in the comments section below. If this article adds value to your life, please consider sharing it with your friends using the links below.

Until next time..

rgvdudeja
A techno manager by profession and a hardcore geek at heart. I love to poke my nose into tasks where other usually gave up on. My hobbies include, reading about Blockchain, Cryptocurrency and latest trends in tech industry, playing guitar and yes, memes!
http://pandatechiein.wordpress.com

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