Aluna.Social x BitMEX Trading Competition (Trade-to-Earn): $500M Volume Achieved + 100K ALN Reward Unlocked & Distributed
Aluna’s inaugural Trading Competition was an astounding success, crushing previous trading volume records, and cementing Aluna as the pioneering Trade-to-Earn platform which enables traders and investors to earn over 100% rebate on their exchange trading fees.
The trading competition incentivized users to connect their BitMEX API keys to the Aluna.Social trading terminal, which enrolls them in Aluna’s Leaderboard as they execute trades, and all participants were rewarded with ALN tokens according to their trading volume. Everyone wins!
ALN x BitMEX Trading Competition: Results and Distribution
A total trading volume of $532.9M was recorded during the 8 weeks of the campaign, unlocking the full 100,000 ALN prize pool for all 45 eligible participants.
This sets a new record for Aluna.Social’s monthly trading volume in October 2021, currently at $506M, breaking and dwarfing last month’s $68M record. And the month’s not even over!!
Over 3,100 new crypto traders have signed up on the platform over the last 8 weeks, bringing our total number of registered users to over 33,000 today.
Here’s a summary of the results:
- Qualified participants: 45
- Total trading volume: $532.9M
- Median trading volume: $82,090
- Total ALN unlocked: 100,000 ALN
- ALN earned per participant: 84.78 to 31,047.47 ALN
100,000 ALN tokens have been distributed to all participants via this transaction.
If you hold more than 1,337 ALN in your Web3 wallet (e.g. MetaMask), join other Alunauts in our Strong Holder Chat Groups on Telegram and Discord. For more information about our token-permissioned chat groups, click here.
Trade-to-Earn: ALN Reward as Trading Fee Rebate
Aluna is a pioneer in gamifying crypto trading and turning investing into a fun and rewarding experience. This ALN Trading Competition kicks off a new era of Trade-to-Earn, and is one of many features and products to come that will (r)evolutionize the gamification of trading & investing.
What is Trade-to-Earn?
Participants of the trading competition earned ALN based on their volume traded on BitMEX. To participate, you connect your BitMEX API key to Aluna.Social, and earn a rebate paid in ALN based on your trading volume.
Since the total reward amount is based on the total trading volume of all participants, it is a collective effort to bring in more friends to trade more and unlock the highest amount of reward for everyone’s benefit — for the greater good.
Because ≥$500M volume was traded by everyone collectively (which was the amount required to unlock the full reward allocated), the maximum amount of 100,000 ALN was unlocked!
How Much ALN Rebate Did Each Participant Earn?
Assuming trading fees paid to BitMEX is 0.05% for <$50M volume and 0.025% for ≥$50M volume, and price of ALN is $0.075; the following table illustrates a participant’s rebate earned in ALN as a percentage of the trading fees paid:
Interestingly, this mechanism benefited the small traders most. Participants who traded less than $50,000 volume during the event earned more ALN than they paid in trading fees (highlighted yellow). This applied to about a third of the participants.
Larger traders were also rewarded with between 3% to 100% of the trading fees paid to BitMEX. The median participant traded $82,090 volume and paid $41.05 in fees, and earned 517 ALN ($38.75), i.e. a rebate of 94.5%.
When Next Trade-to-Earn Event?
A new trading competition will be starting late Q4 2021. Stay tuned for details on the new event coming soon, along with other surprises along the way! ;)