In an effort to bring all users a more seamless and efficient trading experience on OKX, we have announced the introduction of Unified Accounts to the platform. In order to improve account structure-related functions — such as segregated funds and lack of instant profits settlement — we're rolling out a Unified Account system that includes three modes for traders at various levels.
To start off, we're inviting eligible users to test out the new Unified Account system and are kicking it off with two competitions — the Elite Trading Competition and the Elite Feedback Competition — with a collective prize pool of 260K USDT.
Please see below for complete details on rules and rewards.
For a complete guide to the new Unified Account feature on OKX, please refer to our in-depth tutorial.
Competition timing
1. Elite Trading Competition
Captain Recruitment: 10:00 am on Dec. 14 – 10:00 am on Dec. 21 (UTC)
Team building: 10:00 am on Dec. 21 – 10:00 am on Dec. 28 (UTC)
Trading competition: 10:00 am on Dec. 28 – 10:00 am on Jan. 6 (UTC)
Trading Competition reward pool: 150,000 USDT
2. Elite Feedback Competition
From the commencement of testing via demo trading until 10:00 am UTC on Jan. 6. Users participating in the Elite Feedback Competition are not required to be part of an Elite Trading Competition team.
Feedback Competition reward pool: 110,000 USDT
Competition details
1. Elite Trading Competition
(1) Unified Account demo trading: Participants are required to use OKX's demo trading feature during the competition period.
(2) Transaction types: Futures, perpetual swaps, options, spot and margin transactions.
(3) Team building: All Elite Trading Competition participants must join a team to participate. Please note, you can join only one team during the competition. Once the team has been created, it cannot be modified. Participants can choose either an open team or a closed team to join, but the latter requires a referral code from the captain.
(4) Account: Users can only participate using their master accounts.
2. Elite Feedback Competition
(1) Test Unified Account via demo trading and provide helpful feedback: Try trading with the new Unified Account feature via OKX's demo trading feature and report bugs and suggestions.
(2) Who can participate: all OKX users
The Feedback Competition prize pool is broken down by type of user: 50K USDT for DMM/MMs, 50K USDT for KOL users and 10K USDT for all other traders. We sincerely appreciate your feedback on this new feature.
Note: Users can participate in all the activities above simultaneously. You do not have to be part of an Elite Trading Competition team in order to participate in the Feedback Competition.
Reward details
1. Elite Trading Competition
|
Team revenue ranking |
Reward/USDT |
|
1 |
15,000 |
|
2 |
10,000 |
|
3 |
9,000 |
|
4–5 |
7,000 |
|
6–10 |
5,000 |
|
11–20 |
3,000 |
|
Individual revenue ranking |
Reward/USDT |
|
1 |
2,000 |
|
2 |
1,000 |
|
3 |
500 |
|
4–5 |
400 |
|
6–10 |
300 |
|
11–20 |
200 |
|
21–50 |
150 |
|
51–100 |
100 |
|
101–200 |
50 |
|
Popular captains ranking |
Reward/USDT |
|
1 |
10,000 |
|
2 |
8,000 |
|
3 |
5,000 |
2. Elite Feedback Competition
(1) Elite Feedback Competition for KOLs
|
KOL Elite Feedback Competition |
Reward/USDT |
|
1–10 |
2,000 |
|
11–20 |
1,500 |
|
21–35 |
1000 |
|
36–50 |
500 |
(2) Elite Feedback Competition for DMM/MM users
a. Reward: Rebate cards from a 50,000 USDT rebate card pool.
b. How to win the reward: The top 50 participants who provide the best trading depth and the most adopted suggestions on the Unified Account feature via demo trading will be rewarded with a rebate card worth 1,000 USDT.
(3) Elite Feedback Competition for all traders
a. Reward: 10,000 USDT pool
b. How to win the reward: The top 100 participants who provide the best trading depth and the most adopted suggestions on the Unified Account feature via demo trading will be rewarded with 100 USDT.
How to participate in the Elite Trading Competition
(1) How to be a captain
Users can apply to become a captain by filling in the online form.
Note: The captain needs to recruit team members and guide them to analyze market data and to trade during the competition. The captain of the winning team is eligible to get more rewards.
(2) How to join a team
a. Users can join their favorite team on the team building page, but they cannot switch teams after joining.
b. Users can join an open team or a closed team. Before joining a closed team, users should obtain a referral code from the team's captain.
(3) How to build a team
a. Only captains can build teams.
b. The selected captain can recruit team members to form their own team. There is no limit to the number of members in each team.
c. The captain can contact OKX's customer service to change the team status, including the start or end of member recruitment.
How to participate in the Elite Feedback Competition
OKX will send an invitation to KOLs and DMM/MM customers. Other users can simply submit their feedback and report bugs using our online Support form.
Rankings and rules
Elite Trading Competition
Team revenue ranking
(1) Ranking rule: ranked by team revenue rate (from most to least).
(2) Calculation formula for team revenue ranking:
When the team revenue rate is ≥0, the team revenue rate = (total profit of the team / total initial account equity) * team coefficient.
When the team revenue rate is < 0, the team revenue rate = (total profit of the team / total initial account equity) /team coefficient
Profit = (Current demo account equity - initial demo account equity)
Total profit of the team = ∑(total profit of the team)
Total initial account equity of the team = ∑(total initial demo account equity of all members)
Team coefficient = 1 + number of effective members * 0.08. If the number of team members reaches 500, the team coefficient will reach the upper limit of 5.
Note: Only eligible team members who trade during the competition will be included in the formula. Eligible members refer to those who pass Identity Verification Level 2 and have a trading volume of more than 0.
(3) Allocation：
a. Teams with 300 or more members: The captain will get 40% of the reward. All members (including the captain) will share another 40% of the reward based on their individual revenue rankings. The remaining 20% of the reward will be given to all effective members equally.
b. Teams with 200 or more members: The captain will get 30% of the reward. All members (including the captain) will share another 50% of the reward based on their individual revenue rankings. The remaining 20% of the reward will be given to all effective members equally.
c. Teams with fewer than 200 members: The captain will get 20% of the reward. All members (including the captain) will share another 60% of the reward based on their individual revenue rankings. The remaining 20% of the reward will be given to all effective members equally.
Note: Effective members are required to pass Identity Verification Level 2 and have a cumulative trading time of at least four days during the competition.
(4) Requirements
Teams must have a minimum of 10 members in order to participate in the ranking. Only users who have traded a minimum of four days in total during the competition and have completed Identity Verification Level 2 are eligible to participate in the reward distribution.
Individual revenue ranking
(1) Ranking rules: Ranked by individual revenue rate.
(2) Revenue rate formula: Individual revenue rate = (demo account equity – initial demo account equity) / initial demo account equity
(3) Requirements to receive rewards
To get rewards, users are required to pass Identity Verification Level 2 and have a cumulative trading time of at least four days during the competition.
Popular captains rankings
(1) Ranking rule: Ranked by the number of their effective team members (from the most to the least).
Note: Effective team members are those who have completed Identity Verification Level 2 and have traded no less than four days in total during the competition.
Elite Feedback Competition
For KOLs
Ranking rule: Submit your suggestions in the feedback group. We will make the ranking according to the number of high-quality suggestions adopted by us (real-time ranking will be announced through the event page and poster every Tuesday), and we will issue rewards after the event.
For designated market makers/market makers
(1) Ranking rule: Users can experience the new Unified Account feature directly via demo trading or by integrating the API, then submit bugs found in Unified Account and your suggestions in the feedback group. We will make the ranking according to the number of high-quality suggestions adopted by us (real-time ranking will be announced through the event page and poster every Tuesday), and we will issue rewards after the event.
For all traders
Ranking rule: Submit bugs of the Unified Account and your suggestions through the online form. The OKX team will make the ranking according to the number of high-quality suggestions that we choose to adopt (real-time ranking will be announced through the event page and poster every Tuesday), and rewards will be issued after the event.
Reward distribution & supplements
(1) Rewards will be distributed within two weeks after the end of the competition.
(2) Malicious transactions, the use of multiple accounts or any other behaviors that obtain improper benefits will result in the forfeiture of rewards.
(2) The users who improve their rankings and rewards by malicious trading behaviors such as wash trading and price manipulation will be disqualified.
(3) Only master accounts are allowed to participate in this competition.
Note: Any market analysis provided by the captain does not represent the views of OKX. OKX is not responsible for any loss of team members.
(4) According to the regulations, all users from North America — including St. Thomas Islands, U.S. Virgin Islands, Cuba and other countries — Bangladesh, Bolivia, Ecuador and Kyrgyzstan are not allowed to join this competition.
(5) In case of any dispute, OKX reserves the right to make the final decision to resolve the dispute.
Click Here to Download OKX App >>>
A step-by-step guide to purchasing and selling crypto on OKX,
Step 1: Log in to your OKX account
Before you can start buying or selling cryptocurrency on OKX, you must first log in to your OKX account. If you do not yet have an account, click Sign up and complete the registration process.
Step 2: Select Buy/Sell
Once you have logged in to your OKX account, click Buy Crypto in the upper left-hand corner of the screen to get started.
Step 3: Select your purchasing method
The next step is to choose how you would like to buy or sell . There are two primary options on OKX: Express and P2P trade.
Finally, simply confirm your transaction details.
Sign up and log in with the App to claim your Mystery Box worth up to $10,000