The new year brings new opportunities at Parcl, and we're excited to announce the commencement of our January Trading Contest - Chilling Profits in partnership with AssetDash!
After the thrilling 'Year End Battle Royale,' we're turning up the heat with a contest that promises even more engagement and competition. The contest will account for realized P&L starting January 1, 2024 00:00 UTC until January 31, 2024 23:59 UTC.
Understand the Contest Rules
As you gear up to participate, here are the crucial rules that govern the January Trading Contest:
- Ranking Based on Total USDC Earned: The leaderboard will rank participants based on the total USDC earned, not the percentage return, during the contest.
- Focus on Realized P&L: In a significant shift from previous contests, the leaderboard for the January contest will only reflect realized P&L. This means that only the profits and losses from positions that you have closed will count towards your ranking. Actively open positions will not impact your leaderboard standing, emphasizing the importance of strategic position modifications.👀 Reminder - making ANY modification to a position realizes the entirety of the P&L without having to fully close a position.
- Flexibility in Position Opening: You are not restricted to opening positions within the contest window. Any position, regardless of when it was opened, can contribute to your leaderboard score, provided the P&L is realized within the contest timeframe.
A Prize Pool to Compete For
The January Trading Contest offers an attractive prize pool, starting at $2,000. The top three traders will be rewarded handsomely, with first place receiving $1,000, second place $600, and third place $400. In addition, 7 exclusive NFTs, including 5 Eternally Staked Vanta NFTs from AssetDash and 2 HOA NFTs from Parcl, will be raffled among traders who rank 'in the money.'
Narrowing the 'In the Money' Field
Stepping up the competition, only the top 10% of traders on the leaderboard will be considered 'in the money'— and will be capped at 203 users ‘In the Money’. For each trader who achieves this status, an additional $50 will be added to the prize pool - setting the cap at $10,000 distributed between traders ‘In the Money’ outside of the top 3.
Conclusion
The January Trading Contest is set to be a month of intense trading, with a focus on strategy, skill, and the ability to realize profits. Whether you're a veteran trader or new to the platform, this contest offers a chance to demonstrate your trading acumen and vie for rewards.
The information provided on this blog is for general informational purposes only and is not intended as investment advice or as a recommendation of any particular security, strategy or investment product. The information on this blog is not intended to be, and should not be, relied upon as a substitute for individualized investment advice. The company and its management make no representation or warranty, express or implied, as to the accuracy or completeness of any information or opinions contained on this blog. Be sure to review all rules & terms that apply to this and any other contest offered by Parcl or its affiliates.
