I suggest some COLX be put aside from the monthly budget over the course of a few months to get the MN reward required for the trading comp on Cryptopia, in the meantime while that’s accumulating the COLX team can be discussing this with Cryptopia & getting all the plans arranged & marketing campaign designs prepared. Once the reward is ready the comp can be launched. What do you all think of this? I’ve been told COLX Masternode Holders will be required to vote on this if they want the COLX budget to include this type of competition. Who’s with me on this & who would vote YES?
My idea is for COLX to create a trading competition similar to what another crypto currency has already done succesfully in order to raise volume, in turn will make COLX rank higher on CoinMarketCap, attract new investors from the competition & ultimately make the masses know the name “Collosus XT”. I have taken an already created competition & changed the wording. The rewards can be altered accordingly as the COLX team see fit in how the 10,000,000 COLX MN is distributed to those who win the competition.
COLX Trading Competition: 10,000,000 COLX to Give Away!
- Users will be ranked in terms of the total COLX volume traded on their Cryptopia account (including both buys and sells, excluding wash trades) across all COLX trading pairs during the competition period.
The following numbers are an example but maybe one trader could win the MN in total or it can be distributed in parts as follows:
Special Prize: 2,000,000 COLX
The top trader will be awarded 2,000,000 COLX!
Rank 1: 2,000,000 COLX to Win!
Top 2-11 traders: evenly split a pool of 2,000,000 COLX
Rank 2: 1,000,000 COLX to Win!
20 semi-randomly drawn traders* evenly split a pool of 1,000,000 COLX
Rank 3: 5,000,000 COLX to Win!
All traders with at least 65,000 COLX trading volume during the competition period evenly split a pool of 5,000,000 COLX.
Note:
- *Winners from Rank 2 will be determined by a semi-random sample of qualifying traders: ranks 69, 99, 169, 189, 399, 599, 899, 999, 1299, 1699, 1899, 1999, 2099, 2399, 2599, 2999、3299, 3599, 3899, 3999
- Cryptopia reserves the right to cancel or amend the Competition or Competition Rules at our sole discretion.
- All trades that we deem to be “wash trades” will not count towards your trading volume for this Trading Competition.
- Participants will not be able to win multiple prizes across the whole competition.
- Rewards will be issued within 2 weeks after the competition. You can log in and check your prize via Distribution History > Account Center.
Risk warning: cryptocurrency investment is subject to high market risk. Please make your investments cautiously. Cryptopia will make best efforts to choose high quality coins, but will not be responsible for your investment losses.