SingSing is delighted to announce the Top Trader Program, a thrilling initiative created to inspire users to participate in SingSing’s transaction activities from August 1st to August 31st, 2023. Users who participate will have the opportunity to compete for rewards and gather valuable experience in trading and transacting.
The program rules are as follows:
Competition time:
From 10:00 pm UTC+7 on August 1, 2023, to 10:00 pm UTC+7 on August 31, 2023.
Rules:
To be eligible for the prize, you need to meet the following two (2) conditions:
- Register to participate in the event during the registration period.
- Conduct BUY token SING transactions during the competition period. The transaction volume is calculated based on the BUSD value of the BUY transactions.
Your ranking will be determined based on your total BUY transaction volume during the competition period. The higher your transaction volume, the higher your ranking.
For example:
If your transaction history is as follows in one day:
Order 1: Buy 1000 SING at a price of 0.015 BUSD (the transaction volume will be: 1000 x 0.015 = 15 BUSD)
Order 2: Sell 1000 SING at a price of 0.016 BUSD (this transaction volume will not be counted because it is a SELL order)
Order 3: Buy 2000 SING at a price of 0.014 BUSD (the transaction volume will be: 2000 x 0.014 = 28 BUSD)
Therefore, your total transaction value for that day will be 15 + 28 = 43 BUSD.
Prizes:
The prize will be calculated on 10% of the total BUSD transaction volume throughout the competition. The rewards include:
- 1st place: 25% of the prize pool (1 slot)
- 2nd place: 15% of the prize pool (1 slot)
- 3rd place: 10% of the prize pool (1 slot)
- 4th to 10th place: Share the remaining 50% of the prize pool, distributed according to the following formula: Individual Prize = (Individual Volume x 0.05 x Total Volume) / Total Volume of the Fourth to Tenth traders.
In case of a tie in transaction volume, the participant who registered first will be selected as the winner.
Prize Calculation:
Assuming that the total transaction volume in BUSD throughout the competition is 1,000,000 BUSD, then the prize pool is 100,000 BUSD. The distribution of the prizes would then be:
- First prize: 25,000 BUSD
- Second prize: 15,000 BUSD
- Third prize: 10,000 BUSD
- Fourth to Tenth prizes: Each trader’s individual volume, calculated by the formula provided, will determine the portion of the 50,000 BUSD pool. For instance, if a trader’s individual volume is 80,000 BUSD and the total volume of the Fourth to Tenth traders is 600,000 BUSD, then the trader’s prize would be (80,000 x 50,000) / 600,000 = 6,666.67 BUSD.
Note that each position’s prize amount will depend on the individual’s volume relative to the total volume of the top 10 traders. Traders with higher volumes will receive a larger share of the prize pool.
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