58COIN Launched the "King of Contracts" Challenge

Dear 58COIN users,

To express gratitude for users’ support and trust towards 58COIN and to tap more outstanding KOL, the platform has launched the annual activity – “King of Contracts” Challenge on April 1, 2020. Details are shown as follows:

Activity Period: April 1, 2020 – March 31, 2021

Activity Rules: The initial principal should be ≥100 USDT. During the activity, if the profit reaches 2,000 times of the initial principal after closing the position, users will be rewarded USDT worth of 1 million Yuan.

Activity Requirements: All the three contract products involved in this activity, including the Standard Contract, the USDT Contract, and the Mix Contract (only USDT can be used as the margin, any other mixed currency type of margin shall not be involved), profits of each contract type shall be calculated independently without accumulation.

Notices:

1. Calculation of the initial principal: All funds that are transferred to the contract account since the activity starts should be considered as principal.
2. Any occurrence of liquidation during the activity will be regarded as the failure of the challenge. Participants need to rejoin the challenge, and principal and profit will be recalculated accordingly.
3. Participants must complete KYC1 basic certification.
4. There are a total of 5 awards for this activity, and we'll award them to users on the “first come, first served” basis.
5. The user can check the total revenue of your operation after accessing the real “follow order”.
6. The ultimate right to interpret these rules shall be vested in 58COIN official.

FAQ:

1. How is the profit for the standard contract calculated?

To be successful in the challenge, when trading the standard contract, participants need to make a profit 2,000 times of the initial margin.

2. How to calculate when opening positions with multi-currency?

Example: If you transfer in 1BTC + 30ETH in the standard contract account, to be successful in the challenge, you’ll need to make a profit of 2,000 BTC + 60,000 ETH.

3. 3. How to calculate the initial principal with mixed currency type margin in the mix contract?

In the activity, only USDT can be used as the margin in the activity, any other mixed currency type of margin shall not be involved.

By adhering to the operating principle of “Customer First, Safety, Strength and Trust”, 58COIN devotes to creating a safe, transparent and reliable digital asset service environment for traders.  

58COIN Exchange

April 6, 2020