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Gate.io Callable Bull/Bear Contract Masters Contest, Enjoy $10,000 & Lucky Prize

2021-01-11 17:48:59Read:36760

The Second Callable Bull/Bear Contract (CBBC) of Gate.io’s trading competition is in full swing, with a total prize of $10,000 and a total of 30 winners per day. We welcome new players to participate in the competition and attempt first place. In addition, a $300 Lucky Prize has been set up, and new interests’ competitions are waiting for you to fight! New users need to sign up Gate.io to participate.

Characterized by a low commission rate, Gate.io’s CBBCs (recyclable contracts) are simple to operate in the spot market and have the ability to apply leverage effects at the same time. At present, the transaction fee rate of the CBBC confirmed order is the same as the spot price with a basic fee rate of 0.2%. VIP stacking discounts or point card deductions are available (point card deductions do not stack VIP discounts). GT deductions are currently not permitted. Gate.io Cryptopedia: One Minute for CBBC


Competition Duration

Jan 11th 9:00 – Jan 23th 9:00 UTC (12 days in total). Competition and ranking is on a daily basis.

Reward & Distribution
Daily Reward For Top Traders:
1st Prize: 1080 WOM (worth about 180 USDT)
2nd Prize: 840 WOM (worth about 140 USDT)
3rd Prize: 300 WOM (worth about 50 USDT)
4th -30th Prizes: 90 WOM (worth about 15 USDT)

After 9:00 UTC every day, awards will be calculated according to the games’ statistics of the past 24 hours

Fill the form & participate in our campaign here:
https://www.gate.io/en/questionnaire/65?ch=formcbbc

Rules
1) Each day after 9:00 UTC, we will calculate the competition results of the past 24 hours.
2) No extra limit with regard to the funds that you deposit, nor the leverage ratio you can apply. To win a prize, the minimum daily earning should be 20 USDT at least. The Top 3 traders by ROI (earnings/total investment) will be awarded 1080WOM, 840 WOM and 300 WOM respectively, 4th-30th 90 WOM each.
3) Each account must place at least 1 order and 60 orders at most in a daily competition; orders that are placed and cancelled without any portion filled are not eligible.

Lucky Prize: 92,500 ACH (About $300)
1) Any trader conducting a trade and filling the form during the competition period and in doing so, has a daily earning of 10 USDT or above has the chance to win a lucky prize.
2) The prize winning accounts on daily competition have double odds of winning.
3) We will record the lucky draw process and publish it on our social media channels after the competition.

Important Notice:
1) We calculate the cumulative earnings of the following callable bull/bear contracts: ETH callable bull contract, ETH callable bear contract, BTC callable bull/bear contract, BTC callable bear contract. Earning includes unrealized PNL, realized PNL, and trading fees.
2) The total investment =Initial account holdings (including unrealized PNL)+ Funds transferred in during the competition period
3) Gate.io has the right to disqualify any account that is cheating, by either pumping profits into one account, or manipulating the market price, etc.
4) If you are new to callable bull/bear contract, we highly recommend that you practice your skill on your demo account, risk free at https://www.gate.io/testnet/cbbc

Risk warning: callable bull/bear contract can be called back, please exercise caution. Cryptocurrencies are high-risk, speculative investments, susceptible to impact from market, policy, and other factors. Please be aware of the risks involved and make investment decisions with caution.

Gate.io reserves the final right to interpret this activity.

How to enter CBBC trading (App):



How to enter CBBC trading (Web)
Click to trade: https://www.gate.io/en/warrants/cbbc


About Callable Bull/Bear Contract (CBBC)
The CBBC has two types of contracts, a callable bull contract, and a callable bear contract. If an investor anticipates an upward movement of the underlying asset, he/she can purchase a callable bull contract; if an investor anticipates a downward movement of the underlying asset, he/she can purchase a callable bear contract. Without considering other factors, if the underlying asset’s price rises, the bull contract will generally rise in value while the bear contract decreases in value; if the underlying asset’s price decreases, the bear contract will generally rise in value while the bull contract decreases in value. The strike price, call level and expiry date are fixed upon the issuing of a CBBC. When the underlying asset’s spot price hits the call level, the CBBC will be called and trading will be terminated immediately.


The CBBC is essentially a special kind of option. For a callable bull contract, the intrinsic value is the underlying asset’s spot price minus the strike price; for a callable bear contract, the intrinsic value is the strike price minus underlying asset’s spot price. At Gate.io, the CBBC expiration date uses Hong Kong Time. When a CBBC expires, it will be settled. The settlement is the difference between underlying asset price and the strike price, divided by the entitlement. The maximum loss is limited to the investor’s entire investment capital.


The characteristics of the CBBC:

1) Easy to trade. You can simply buy and sell a CBBC like you are buying or selling an asset in the spot market.
2) Highly leveraged: The CBBC leverage can be as high as 100x or 200X, in certain cases.
3) Lower trading fee: The CBBC trading fee is lower compared to a perpetual contract as it is charged based on the investment capital, irrespective of the leverage.
4) Callback: The CBBC can be called back. When it is called, the investor only receives a residual value if there is any. To calculate the residual value, the lowest price observed during an observation period for bull contract and the highest for a bear contract, instead of the call level, is used.


The CBBC VS Leveraged ETF
1) The CBBC, in general, has higher leverage;
2) The CBBC does not incur any management fee.
3) The CBBC doesn’t have a re-balancing mechanism, therefore would not incur friction caused by rebalancing. But the CBBC has a callback mechanism. Once it is called, the investor may lose a significant part, even all of his/her investment capital.

Please note: the CBBC’s leverage may change all the time as the market price of the underlying asset changes. In the event of a mandatory call, CBBC will be called and the investor may lose a significant part, even all of his/her investment capital. Please beware of the risks involved.

Read the following articles to Learn more about the CBBCs:

https://www.gate.io/en/help/trade/cbbc/18349
https://www.gate.io/en/article/18283



Gate.io is an established exchange that holds integrity, transparency, and fairness to a very high standard. We charge zero listing fees and only choose quality and promising projects. Our exchange consists only of 100% real trading volume. Thanks to everyone who has joined us in our journey. We always intend to improve and innovate to reward our users for their continuous support.


Gate.io Team
January 11, 2021


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