Demex, a decentralized crypto change platform launched late final 12 months from the Switcheo group, in the present day introduced that ether ETH and bitcoin BTC quarterly futures are actually stay. Merchants can presently open decentralized futures positions with as much as 100x leverage – utilizing USDC as collateral.
“We’re proud to be pioneering the way in which for the decentralized derivatives market by being the primary cross-chain DEX to completely assist quarterly futures.”
– The Demex Staff
Additional, to have fun the launch, Demex is holding a buying and selling competitors with $120K USD price of prizes.
Steps to Take part
To partake within the competitors, comply with the directions beneath. All steps have to be accomplished for eligibility within the buying and selling competitors.
- Create a pockets on Demex
- As soon as your pockets has been created, comply with the directions right here to enroll in the competitors.
- Add your username and Twitter deal with underneath “Pockets Settings”. This step requires a community payment of 1 SWTH which could be acquired right here.
- Make a profitable futures commerce on Demex for the ETHUSD and/or BTCUSD futures market expiring on 24 September 2021. Solely buying and selling quantity for these 2 markets will likely be thought of for the competitors.
Members can view their place on the competitors leaderboard on Switcheo Tradescan anytime in the course of the competitors.
The competitors will happen over 21 days, ranging from June twenty ninth, 2021, 11:00 am UTC to July 2021, nineteenth, 11:00 am UTC.
Merchants will likely be ranked based on buying and selling quantity just for the ETH and BTC futures markets with the 24 September 2021 contract expiry.
A complete of $120K USD is up for grabs for the highest 20 merchants.
- 1st place: Tesla Mannequin 3 (retail worth of $40K USD)
- 2nd place: $25,000
- third place: $15,000
- 4th place: $10,000
- fifth place: $5,000
- Sixth-Tenth place: Equal share of $15,000 prize pool ($3,000 every)
- Eleventh-Twentieth place: Equal share of $10,000 prize pool ($1,000 every)
2nd – Twentieth place winners will likely be contacted by way of Twitter DM by Switcheo and prizes will likely be distributed inside 90 days of the tip of the competitors. Particulars on the first place prize will likely be introduced quickly.
Full contract specs of the ETH and BTC futures markets could be discovered right here.