WHY “Create-a-Competition” on CoinFLEX? By @KennyClutch
For the average person, it is nearly impossible to have the time, resources or the sillions of dollars in VC capital to build a crypto exchange. It is an expensive and arduous endeavor. Derivative exchanges facilitate huge daily volumes -in part due to leverage leading to greater liquidity and hence more action in general. In the case of CoinFLEX, we’re usually facilitating $200M-400M+ USD/daily and growing. Now with the “Create-a-Competition” function, you can leverage CoinFLEX’s existing platform (and liquidity) from a business standpoint by being a Organizer of trading competitions. CoinFLEX becomes YOUR platform to share with others!
Monetary Rewards! (up to 80% of trading fees)
Serious amounts get traded in these competitions (Millions of Dollars).
- At minimum, organizers will get 40% of participants’ trading fees
- In addition, Affiliate Program commissions will also be rewarded on top
- Thus, for ‘Affiliate level 4’ (staking FLEX) you can get up to 80% of the total trading fees on 1st level referrals who join your competition (40% organizer’s portion + 40% affiliate); and up to 50% of the total trading fees on 2nd level referrals who join (40% + 10%)
Organizers can craft their own battles with tailor made parameters, including:
- Start time
- Duration (10m, 20m, 30m, 1h, 2h, 3h, 4h, 6h)
- Scoring method (Pure Volume, Profit Blend, Profit² Blend)
- Contribution Amount (Collateral / Deposit put in)
- Prize distribution (can set how many paid and the actual %’s)
And we are open to considering more ideas to increase the usability of the platform!
Everyday people can make good money organizing competitions. And remember it’s fun!
Organizers (KOLs) with a decent following can make a killing. Your communities will appreciate spicing things up with such trading contests!
Suggestion would be Organizers may need to consider putting forth some contributions of their own to the prize pool to entice others to join. Think of it from a business viewpoint. It’s not different from an online poker tournament guaranteeing a prize pool, which then there are usually more entrants and fees paid than the guarantee’s worth. This does take some testing and tinkering around with. However, if you have the existing network and following, when you identify a “winning formula” – it can be insanely profitable.