Gemini Foundation is set to host its first trading competition in August to attract new users and increase trading volumes.
Gemini Foundation, a non-US derivatives platform founded by the Winklevoss twins and backed by the Gemini Trust Company, is gearing up to host its first trading competition in August.
The competition also aims to revitalize its trading volume and expand its global user base, as the crypto market has recently faced a slowdown.
The Gemini Leaderboard competition will track and rank the performance of crypto traders on its international derivatives trading platform, which offers perpetual contracts with up to 100x leverage.
The platform, which launched in May, is available in select jurisdictions outside the US, UK, and EU.
Trading Events and Rewards
The competition will feature multiple trading events, each with distinct rules, objectives, and durations. The events will also challenge participants to showcase their trading skills and achieve consistent profitability on the platform.
Participants can win up to 250 GUSD (Gemini’s native stablecoin) daily, serving as a powerful incentive for traders to join the competition.
The rewards will be based on the participants’ ranking on the leaderboard, which will be updated regularly on the platform.
The competition will also foster a sense of excitement and camaraderie within the crypto community, as participants can interact with each other and share their trading strategies and insights.
Participation Requirements
To be eligible for the competition, participants must:
- Fund their derivatives accounts with at least 250 GUSD by July 31 and keep this balance until the end of the competition.
- Live in any of the supported countries and have a Gemini account to open a Gemini Derivatives account.
These requirements ensure that participants have enough capital and access to join the trading events.
They can access the derivatives platform via ActiveTrader, Gemini’s high-performance trading platform that features advanced charting, multiple order types, auctions, and block trading.
The first competition is scheduled to conclude on August 31, 2023, giving traders ample time to demonstrate their trading prowess and secure their spot on the leaderboard.
A Competitive Edge
Gemini Foundation aims to compete with other crypto derivatives platforms by hosting a trading competition. The competition will bring more users, volume, and liquidity to its platform.
The Foundation benefits from the trust and regulation of Gemini Trust Company, which provides custody for its derivatives product.
The Gemini Foundation offers users a secure, efficient, and easy way to trade derivatives with leverage and low fees.
