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Updates to the Binance BTCUSD Quarterly Futures Trading Competition

Binance
2020-07-03 02:16

Fellow Binancians,

Thank you for your participation in the BTCUSD Quarterly Futures Trading Competition thus far. Since launching the activity, we have received strong feedback and discussion on various rules within this competition.

To ensure fairness and impartiality in this activity, Binance will use the following updated calculation method for the ongoing Daily ROI competitions starting from 2020/07/03 0:00 AM (UTC).

Updated Daily Returns Calculations:

BTC Profit = Final Account BTC Balance (including unrealized pnl) - Initial Account BTC Balance (including unrealized pnl) + BTC Withdrawals - BTC Deposits - BTC Referral bonuses.

BTC ROI =  BTC Profit Amount / (Initial Account BTC Balance + 0.001 BTC + Time-Weighted BTC Deposits)

Time-Weighted BTC Deposit = BTC Deposits * (Competition time remaining in seconds) / 86,400

The time remaining on each daily ROI competition starts at 86,400 and decreases to 0. Deposits at the start of the competition receive full weight. After 12 hours, deposits will only have a 50% weighting. After 23 hours have passed, deposits will receive a 1/24 weighting and so on.

Please note:

  • The first three Daily ROI competitions results will remain using the previous calculation methodology, which ran from 2020/06/30 0:00 AM (UTC) to 2020/07/03 0:00 AM (UTC).
  • Binance reserves the right to cancel or amend any Activity or Activity Rules at our sole discretion.
  • Risk Warning: Futures trading is a highly risky endeavor, with the potential for both great profits and significant losses. Please be aware that in the event of extreme price movement, there is a chance that all margin balance in your futures wallet may be liquidated.

Thanks for your support!

Binance Team

2020/07/03

 

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