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

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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 contract month.
  • 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.

Pure Profit

  • Formula for calculating FLEX Multiple is: 1,000 x (1+RoI).
  • 1,000 chosen to make the FLEX Multiple 1,000 when you first start trading.
  • NOTE: In order for your ROI to be counted during a Pure Profit competition, you need to execute at least one Bracket Order first. Until then, your (1 + ROI) will be multiplied by 0 instead of 1,000.
  • Example: James manages to turn an initial 100 USDT into 200 USDT during the course of a Pure ROI competition, resulting in a FLEX Multiple of (1,000 x (1+1) =) 2,000.

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!