The duration of trading competition is 30 days unless otherwise specified.
The tokens / coins that are listed on TowerX by community vote have the option to hold a trading competition.
The first trading competition will be for the XLMGOLD token where total of 1,000,000 XLMGOLD tokens will be distributed equally among top 100 traders. Each winner will receive 10000 XLMGOLD tokens.
The below given are the rules and procedure of the trading competition. These are expected to remain the same in all future trading competitions.
- The trading competition will run for 30 days from the coin listing date.
- Top 100 traders by highest trading volume will be rewarded equally.
- Highest trading volume will be calculated in terms of ETH. For example,
Transactions of User 1
Sold 100 XLMGOLD tokens at price 0.00050 ETH: Volume = 0.05 ETH
Sold 200 XLMGOLD tokens at price 0.00040 ETH: Volume = 0.08 ETH
Bought 500 XLMGOLD tokens at price 0.030 ETH: Volume = 15 ETH
Total trading volume of User 1 = 15.13 ETH
Transactions of User 2
Sold 1000 XLMGOLD tokens at price 0.00001 ETH: Volume = 0.01 ETH
Sold 2000 XLMGOLD tokens at price 0.00050 ETH: Volume = 1 ETH
Bought 1500 XLMGOLD tokens at price 0.0050 ETH: Volume = 7.5 ETH
Total trading volume of User 2 = 8.51 ETH
In the above example, the transaction volume of User 1 is more than User 2. The volume is calculated in terms of ETH. So, if your dump the tokens at very cheap price, your trading volume will not increase significantly.
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