Trading Mechanism

Welcome to Duel Mode — an innovative leveraged trading mode designed for traders who love engaging in bullish and bearish duels. Below is a detailed explanation of the trading rules to help you fully understand and participate in trading.Overview of Duel Epochs:

Initiation and Duration: Each Epoch is initiated by a challenger who sets the Epoch's initial price. Each Epoch lasts for 40 minutes, during which participants can go long, go short, close positions without loss, and switch their trades in the first 37 minutes. No trading activities are allowed in the last 2 minutes of the Epoch.
New Epochs: Immediately after the 37-minute trading window ends, a new Epoch begins without waiting for the full 40 minutes to conclude.

Trading Details

Leverage Options: Traders can choose from 5 different leverage levels: 1x, 10x, 50x, 100x, and 1000x. There's no maintenance margin rate, and a position is liquidated when losses reach or exceed the margin. When a position is liquidated, 5% of the proceeds are deducted and added to the prize pool.
Fees and Opening Positions: The opening fee is set at 0.01% of the position value. Fees are charged for opening and reversing trades, but not for closing positions without loss or claiming prizes. The fee is deducted from the margin, reducing the actual margin (MarginAfterFee), thereby increasing the effective leverage beyond the selected level. However, bets with 1x leverage cannot be liquidated.
Betting Limits: Each Epoch, a user can place only one bet, with no option to increase or decrease the bet amount after it's placed. Users can withdraw their bet (close position) or change their position (switch position). Once a user is liquidated in a Epoch, they cannot place new bets. The maximum bet amount is set at 1 million.
Reversing Trades: A fee is required for reversing trades, but the original position value and margin remain unchanged.

Epoch Conclusion and Pricing

Epoch End: Each Epoch ends 40 minutes after it begins, with the final price submitted by the designated pricer. If the final price is higher than the initial price, the bullish side wins, and vice versa.
Draws and Void Epochs: A Epoch ends in a draw if the final price is equal to the initial price. If no price is quoted within the valid pricing period, the Epoch is considered void.
Prize Pool Distribution: In the event of a draw or void Epoch, participants share the prize pool and points equally based on their positions. In Epochs with a clear winner, 97% of the prize pool is distributed among the winners (with the protocol taking 1%, the initiator 0.5%, and the pricer 1.5%).
Prize Claims: Users must actively claim their prizes after each Epoch, with an option for one-click collection of all pending prizes.

Distribution of Trading Points

Every Epoch releases 20,000 trading points, distributed as follows:
- Trader Points Distribution: 35% of the points are shared among all participants, distributed according to their proportion of the total trading volume in the current Epoch. Both liquidated and already closed positions are eligible for sharing these points.
- Winner Points Distribution: 50% of the points are distributed among the winners, divided according to their respective position sizes compared to the total position size of all winners.
- Loser Points Distribution: The remaining 15% of the points are distributed among the losers, based on their respective position sizes compared to the total position size of all losers, excluding those who have been liquidated.

Through this design, Duel Mode aims to encourage active participation and offers traders the thrill of market fluctuations through a bullish and bearish duel mechanism. Please ensure you fully understand the details of the rules and participate cautiously according to your risk tolerance.Cautions:

Make sure you understand your betting options and the potential risks before each trading Epoch begins.
Always trade rationally and avoid making impulsive decisions influenced by market sentiments.

Wishing you success in Duel Mode and enjoy the excitement of trading!

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Last updated 1 year ago

Trading Details

Leverage Options: Traders can choose from 5 different leverage levels: 1x, 10x, 50x, 100x, and 1000x. There's no maintenance margin rate, and a position is liquidated when losses reach or exceed the margin. When a position is liquidated, 5% of the proceeds are deducted and added to the prize pool.

Fees and Opening Positions: The opening fee is set at 0.01% of the position value. Fees are charged for opening and reversing trades, but not for closing positions without loss or claiming prizes. The fee is deducted from the margin, reducing the actual margin (MarginAfterFee), thereby increasing the effective leverage beyond the selected level. However, bets with 1x leverage cannot be liquidated.

Betting Limits: Each Epoch, a user can place only one bet, with no option to increase or decrease the bet amount after it's placed. Users can withdraw their bet (close position) or change their position (switch position). Once a user is liquidated in a Epoch, they cannot place new bets. The maximum bet amount is set at 1 million.

Reversing Trades: A fee is required for reversing trades, but the original position value and margin remain unchanged.

Epoch Conclusion and Pricing

Epoch End: Each Epoch ends 40 minutes after it begins, with the final price submitted by the designated pricer. If the final price is higher than the initial price, the bullish side wins, and vice versa.

Draws and Void Epochs: A Epoch ends in a draw if the final price is equal to the initial price. If no price is quoted within the valid pricing period, the Epoch is considered void.

Prize Pool Distribution: In the event of a draw or void Epoch, participants share the prize pool and points equally based on their positions. In Epochs with a clear winner, 97% of the prize pool is distributed among the winners (with the protocol taking 1%, the initiator 0.5%, and the pricer 1.5%).

Prize Claims: Users must actively claim their prizes after each Epoch, with an option for one-click collection of all pending prizes.

Distribution of Trading Points

Every Epoch releases 20,000 trading points, distributed as follows:

Trader Points Distribution: 35% of the points are shared among all participants, distributed according to their proportion of the total trading volume in the current Epoch. Both liquidated and already closed positions are eligible for sharing these points.
Winner Points Distribution: 50% of the points are distributed among the winners, divided according to their respective position sizes compared to the total position size of all winners.
Loser Points Distribution: The remaining 15% of the points are distributed among the losers, based on their respective position sizes compared to the total position size of all losers, excluding those who have been liquidated.

Make sure you understand your betting options and the potential risks before each trading Epoch begins.

Always trade rationally and avoid making impulsive decisions influenced by market sentiments.

Wishing you success in Duel Mode and enjoy the excitement of trading!