What are the different competition types in CoinFLEX’s Bracket Wars and what do they mean?

What are the different competition types in CoinFLEX’s Bracket Wars and what do they mean?

First, some definitions:

  • Volume traded: refers to the volume traded on the relevant contract using our Bracket Order type.
  • Deposit: your collateral (balance excluding any loans) at the start of the competition in the relevant trading pair.
  • ROI: return on investment. If you start with 100 USDT and trade up to 110 USDT, your ROI is ((110-100)/100 =) 0.1.

In all of our competitions, your ranking is dependent on your “FLEX Multiple” – bigger the better. How you increase that depends on the type…

 

Pure Volume

  • FLEX Multiple is calculated by: volume traded divided by your deposit.
  • Example: Mark trades 200,000 USDT in a Pure Volume competition with a deposit of 0.02 XBT (priced at 1 XBT = 10,000 USDT). His FLEX Multiple is (2000,000/200 =) 1,000.

 

Profit Blend

  • FLEX Multiple is calculated by multiplying the output of the Pure Volume formula by (1 + ROI). 
  • Example: Sudhu trades 100,000 USDT in a Profit Blend competition with a deposit of 0.01 XBT (price at 1 XBT = 10,000 USDT). In the process he lost 10% of his deposit, leaving him with an ROI of -0.1. Therefore his (1+ROI) is (1 + -0.1) = 0.9. His FLEX Multiple is ((100,000/100) x 0.9 =) 900.

 

Profit² Blend (also written as Profit^2 Blend):

  • FLEX Multiple is calculated by multiplying the output of the Pure Volume formula by (1 + ROI)². 
  • Example: later on, Sudhu also trades 100,000 USDT in a Profit² Blend competition with a deposit of 0.01 XBT (price at 1 XBT = 10,000 USDT). In the process he lost 10% of his deposit, leaving him with an ROI of -0.1. However this time his (1 + ROI)² is (1 + -0.1)² = 0.81. Therefore, his FLEX Multiple is ((100,000/100) x 0.81 =) 810.

 

We are looking to add more competition types in the near future, including pure ROI and many more!