Derivatives exchange Bitget announced the launch of the King's Cup Global Invitational (KCGI). According to the announcement, the contest has set up a prize pool of 100 Bitcoin (BTC) and 500 million of the native Bitget token BGB, as well as other custom-made prizes. Registration will open from October 20 to November 4 (UTC+8), and the competition will start from 10:00 am on October 30 to 10:00 am on November 20 (UTC+8).
It is reported to be an annual event for global elite traders held under the principle of unity, fairness and competitive spirit. “This contest aims to provide a level playing field for trade lovers. The competition rules are very user-friendly. All traders are welcome to participate in this game,” said James Lee, global strategy officer of Bitget.
Total prize pool: 100 BTC
The competition includes Team Battle and Individual Competition, each with a prize pool of 50 BTC, adding up to a total of 100 BTC.
The prize of Team Battle or Territory Battle will depend on the number of teams. A captain can form a team to join the battle if there are more than 30 team members. During the registration period, eligible users can pick their favorite captain to win rewards through futures trading.
The total prize pool will be divided among the ten teams with the highest profits. Within each team, the captain can receive 10% of the team's total prize. The remaining prize will be distributed among other players according to the proportion of their profits. Among them, the top seven team captains in terms of revenue can also get customized nonfungible tokens, or NFTs. For teams ranked top three by trading profits, the top three profit contributors in the team can each receive a PS5 game console.
The Individual Competition is divided into Super Leaders (ranked by P/L ratio) and Super Heroes (ranked by profits) sessions. The total prize pool is 50 BTC each which will be released according to the numbers of participants.
The total prize pool will be shared by the top 10 teams/participants with the highest PNL% and profits respectively. It is worth noting that users participating in the Team Battle are also qualified to join the Individual Competition and share the prize.
Special benefits: 5 million BGB
To attract more regular and new users, there are also additional events such as City Assembly, Lords Assembly, Airdrop for All, Lucky Lottery, Post-Competition Bonus and Early Bird Benefits, offering a total of 5 million BGB.
City Assembly: For the division with the most winning seats in Territory Battle, all the participants within the division will receive an airdrop of 50BGB on a first-come, first-served basis. The total supply of the airdrop is 500,000 BGB. Lords Assembly: Lords (Captains) of the team will unlock the BGB rewards pool if they can obtain active users. The top team's rewards pool will be doubled. Within each division, the top 10 captains in terms of obtaining new users will get an exclusive benefits package from Bitget to be “signed” as the co-ambassador for the next trading contest.
Participants whose total trading volume reaches 50,000 Tether (USDT) during the competition will receive an airdrop of 99 BGB by following our official Twitter and joining our Telegram. The total supply of the airdrop is one million BGB. Users can earn points by completing tasks. For every three points accumulated, participants will be qualified for the Lucky Lottery” to draw from meebits NFT, HTC-VIVE VR glasses, DJI drones or PS5 game consoles.
In addition, Bitget has prepared Early Bird Benefits. Captains who sign up and complete their team formation five days before the competition will receive 50 USDT trial funds for futures prior to the contest. Individuals who sign up five days before the competition will receive 20 USDT.
Theme for KCGI-2021: Fight pixel intrusion
The theme for KCGI 2021 is “Defend the Earth against Pixel Invasion.” It tells a story of how the quantum civilization six light-years away plans to attack the Earth with its advanced weapons that can rapidly transform entities into pixels. Seven young people from different countries form the strongest battle team, each mastering one of the seven different elemental skills: silicon, gold, earth, wind, water, fire and thunder to defend the Earth.
Bitget used this as a backdrop to create a set of NFT artworks representing the different forms of energies and objects in the story. The collections will be given as prizes to the Captains and lucky users who performed well in the Team Battle.
For more information, please visit:
Bitget official website: bitget.com
Bitget Twitter: https://twitter.com/bitgetglobal
Bitget Telegram: https://t.me/bitgetEN