# Trading Competition - Launch

To celebrate the launch of Flex Perpetuals, we’re hosting **two week-long trading competitions** with a **total prize pool of $45,000+ in USDC & esFDX!**

🔥 **First competition kicks off on Feb 19th at 4PM UTC.**\
📅 **The second competition date will be announced soon!**

This prize pool is **on top of** our **Trade 2 Earn program (FTC)**, offering even more **esFDX incentives** for traders. Don’t miss out—**trade, earn, and win big!** 🚀 Check out the details here: [Trade 2 Earn](/trade-2-earn-points-system.md)

### 🏆 Competition Structure

Each competition lasts 1 week, with two separate leaderboards:

1. **Notional Volume Leaderboard** – Rewards traders with the highest total trading volume.
2. **Best PnL % Leaderboard** – Rewards the traders with the highest percentage gains relative to their account size.

**Competition 1: 📅 Week 1: Feb 19th (4 PM UTC) - Feb 26th (4 PM UTC)**\
💰 Total Prize Pool: $7,500 USDC + 3,750 esFDX (\~$15K value)

**Competition 2: 📅 Week 2: Dates TBC**\
💰 Total Prize Pool: $7,500 USDC + 3,750 esFDX (\~$15K value)

### 🏅 Leaderboard Prizes

#### 1️⃣ Notional Volume Leaderboard ($5,000 USDC + 2,500 esFDX per week)

* Top 5 traders by total trading volume win:

| Place        | USDC Prize | esFDX Prize |
| ------------ | ---------- | ----------- |
| 🥇 1st Place | 2,500      | 1,250       |
| 🥈 2nd Place | 1,500      | 750         |
| 🥉 3rd Place | 500        | 250         |
| 🏅 4th Place | 300        | 150         |
| 🏅 5th Place | 200        | 100         |

#### 2️⃣ Best PnL % Leaderboard ($2,500 USDC + 1,250 esFDX per week)

* Top 4 traders with the highest % PnL win:

| Place        | USDC Prize | esFDX Prize |
| ------------ | ---------- | ----------- |
| 🥇 1st Place | 1,250      | 625         |
| 🥈 2nd Place | 750        | 375         |
| 🥉 3rd Place | 300        | 150         |
| 🏅 4th Place | 200        | 100         |

\
**🎉 Bonus Raffle:** Instead of a 5th place winner, we will randomly select one trader who traded at least $10K in volume during the week to win $200 USDC + 100 esFDX!

### How to Participate?

🔄 Trade on Flex Perpetuals during the competition period.\
📊 Get ranked on one or both leaderboards (Notional Volume & % PnL).\
💰 Win big! The more you trade, the higher your chances of winning!

📍 No sign-ups required – just trade & climb the ranks!\
📊 Leaderboard updates will be shared throughout the competition.

***

<br>

### Competition Rules

#### Competition Duration

* Each competition runs for 1 week, from 4 PM UTC on start date to 4 PM UTC on end date.
* You do not need to sign up – all trades on Flex Perpetuals during the competition period automatically count.

#### Trading & Position Rules

* Only positions opened after the competition period begins will count. Open trades from before the start do not qualify.
* Profits are counted from all positions, including:
  * Fully closed positions
  * Partially closed positions
  * Open positions at the end of the competition (snapshot taken at 4 PM UTC on the final day)
* PnL is calculated in USD, net of all trading fees.
* PnL across all sub-accounts linked to a wallet will be combined.

#### 🌟 PnL % Leaderboard Calculation

The % Return will be calculated using:

🔢 % Return = (Total PnL) / (Adjusted Collateral Value)

Where:\
📈 Adjusted Collateral Value = Initial Collateral at the start of the competition + Any deposits made during the competition

💡 A minimum Adjusted Collateral Value of $100 is required to qualify for this category.

#### ⚠️ Fair Play & Disqualification

* Manipulation to influence leaderboard rankings will result in disqualification.
* The Flex Perpetuals team reserves the right to disqualify any trader at their sole discretion if unfair trading activity is detected.


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