fbpx
Buy FOLO app

LOBSTER TRADING COMPETITION TERMS AND CONDITIONS

ELIGIBILITY

Traders:

  1. Traders require a Binance.com OR KuCoin Spot account
  2. The Trader needs to connect their Binance.com or KuCoin API Key (Read-only) on Alpha Impact to allow the platform to see the trades made. 
  3. The Trader must have a Binance.com or Kucoin Monetized Profile and Auto-Copyable Portfolio on Alpha Impact
  4. The Trader must have a minimum of $20 funds in Binance.com or Kucoin Trading Account
  5. One entry per Person
  6. The Trader must make a minimum of 5 trades during the competition period
  7. All trading pairs are qualified as long as the trader SPOT trades on Binance.com or KuCoin.com
  8. KYC may be required if suspicious activity detected

All Trading pairs are considered Qualified as long as the trader SPOT trades on Binance.com and KuCoin.com

 

Stakers:

  1. Traders cannot stake themselves using multiple accounts
  2. One account per person allowed
  3. Stake up to a maximum of 3 Traders
    1. Minimum Stake (per Trader): 750 FOLO
    2. Maximum Stake (per Trader): 15,000 FOLO
  4. Max. Aggregate Stake limit of 1,000,000 FOLO across the entire competition
  5. KYC may be required if suspicious activity detected

 

HOW AND WHEN TRADER WINNERS WILL BE SELECTED AND NOTIFIED

 

Winners will be selected based on the following criteria:

  1. Portfolio gain with the exception of withdrawal, deposit, airdrop, earn, pre-listed token, and pre-trading token factors

Minimum Trades count both buys and sell, across any spot trading pairs.

Alpha Impact will select the winners based on each trader’s portfolio percentage gain at the end of the competition period.

 

Calculation of the following: 

Portfolio value at the end of the competition –   – initial portfolio value at the start of the competition = Percentage gain (profit) during the competition period

(End – Initial) / Initial x 100% = % gains

(Value final + Withdrawal) – (Value initial + Deposit) / (Value initial + Deposit)

 

1000 USDT Bonus: 

A 1000 USDT Bonus pool for traders will be activated once we have 50 or more eligible traders entered.

Once activated, the top ten profitable traders will win an additional 100 USDT each.

If you are in the top 10, but not profitable, you will not be eligible for the bonus prize.

 

Winners will be notified:

The winners can be seen on the leaderboard on the app platform. Rewards will be distributed 2 weeks after the competition ends. The Rewards will be inclusive of the Transfer fee. This will be distributed by Alpha Impact. The user will need to tell us his Alpha Impact ID and redeem the prize from the Official Alpha Impact Telegram group or email us at [email protected]

 

[TERMS AND CONDITIONS]

Trading Competition Terms & Conditions


The Alpha Impact Trading Competition (“Trading Competition”) is an online service offered by Alpha Impact.

The Trading Competition allows eligible Traders to participate in events (each a “Trading Competition Event”) by connecting an API key to the Alpha Impact platform to compete against other traders in a competition. If the trader satisfies various requirements as established (and subject to change without notice to the participant) as set out by Alpha Impact, they can potentially receive a sum of virtual assets in respect of that Trading Competition. Eligible Stakers are restricted to one account per person. Participants may be required to KYC if multiple entries are suspected.

By participating or attempting to participate in a Trading Competition Event (in both cases, “participating”), you confirm that you understand and agree to these Trading Competition terms and conditions (“Trading Competition Terms”), which form part of the Agreement.

  •  Digital Asset compatibility: Alpha Impact has sole and absolute discretion to determine the Virtual Assets, if any, that are accepted as currencies that are eligible to be traded for the trading competition, and any such determination and direction by Alpha Impact does not constitute an endorsement or recommendation in respect of any Virtual Asset. 
  • Competition Threshold: This competition may be delayed until we have 20 trader participants. Dates referred to on our landing page or in these terms and conditions may vary if we do not receive 20 trader sign-ups for the competition.  
  • Eligibility: To participate in a Trading Competition Event, Traders must have a Binance or KuCoin spot account and have completed KYC with that platform. Traders must connect your Binance or KuCoin API Key (Read-Only) via the Alpha Impact platform. All SPOT pairs on Binance or KuCoin are eligible. Excludes Margin, Futures, Earn, Staking, Pre-listed Tokens, Pre-trading Tokens, and Airdrops. Traders must execute at least 5 trades during the competition period. Subject to this clause and those below, Alpha Impact has the sole and absolute discretion to determine access to a Trading Competition Event. Alpha Impact may publish Trading Competition eligibility criteria on the Website with respect to a Trading Competition Event but is not bound by any such published eligibility criteria. Alpha Impact will only allow one portfolio per trader. Sub-accounts are not counted as independent accounts. Multiple entries for one trader will result in disqualification from the competition. Alpha Impact reserves the right to disqualify trades that are deemed to be wash trades, market manipulation, or self-dealing.
  • Prohibition: The following persons are prohibited from participating in any Trading Competition Event: 
    • Persons that reside in, or are incorporated under the laws of, the following jurisdictions, as well any other jurisdictions that Alpha Impact declares to be a Trading Competition prohibited jurisdiction by any other means: the People’s Republic of China (mainland China);
    • the United States of America
    • The British Virgin Islands
    • Belarus, Burma, Cote D’Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe
    • Any jurisdiction where participation in this event would contravene local laws
    • Persons for whom participating in a Trading Competition would contravene Applicable Laws
  • Registration, Winner Selection, and Notification: Users may register at any time between 16 May at 04:00 UTC and 12 June 04:00 UTC. The warm-up period will be between 12 June 04:00 UTC and 14 June 04:00 UTC. The competition will run between 14 June at 04:00 UTC and 14 July at 04:00 UTC. After the competition closes, Alpha Impact will notify the community who the winners are via the Alpha Impact application social feed. To redeem prizes, the winners will need to view the announcement and follow the instructions delivered to their email account that matches their Alpha Impact app account. Winners may be required to KYC by sharing personal details including identifying information such as a passport or national identity document as well as proof of address. Rewards will be distributed by Alpha Impact 2 weeks after the competition ends. The user will be required to validate their Alpha Impact ID to redeem the prize. Trading Winners will be selected based on who has achieved the largest portfolio gain in accordance with the formula below. 
  • Calculation of Trader Portfolio gains/losses: Trader Spot Portfolio gains/losses are calculated in percentage terms by the formula:

    (Final Value of Portfolio – Any withdrawals made during the competition period) /
    (Initial Value of Portfolio + any deposits made during the competition period)

    Gains (value) not generated by spot trading activities, for example but not limited to: futures, margin, earn, airdrops, staking, deposits, pre-listed tokens, etc, are not valid performance gains. 
  • Calculation of Staker Portfolio gains/losses: Staker Portfolio gains/losses are calculated in percentage terms by the formula:

    (Staked FOLO x Trader’s %gains/losses made during the competition period) – 10% profit sharing fees.

    The 10% profit share fee is to be equally split between the Trader and Alpha Impact, unless the trader disconnects or closes their portfolio during the competition, in which case 10% profit share goes to Alpha Impact.

    Gains not made by spot trading activities, for example, but not limited to futures, margin, earn, airdrops, staking, deposits, pre-listed tokens, etc, are not valid performance gains. 
  • Staked FOLO: All FOLO that has been staked on a Trader will be locked when the competition starts until the end. Hence during the competition, staked FOLO cannot be unstaked until the end of the competition period. Staked FOLO is subject to market price volatility during the stake period.
  • No reasons or notice required of Alpha Impact: Alpha Impact is not required to give any reasons or notice before exercising any discretion that it may have in respect of a Trading Competition Event, whether under the general Terms and Conditions, these Trading Competition Terms, or otherwise.
  • API Failure By participating in this competition, you acknowledge that an API or other technical failure can occur, resulting in missed trades. Alpha Impact does not warrant an API failure or malfunction. Traders participating in the competition may be affected by API failures or malfunctions (howsoever caused) which may affect the tabulation of winners of the contest. By participating, you agree to indemnify and hold harmless Alpha Impact and its affiliates, partners, agents, directors, officers, and employees in the event of an API failure or malfunction, including where your trades are not properly reconciled and/or recognized by the Alpha Impact platform.
  • Events: Participation in a Trading Competition Event must occur within the dates and times, and in the time zone, designated by Alpha Impact in respect of that Trading Competition Event. Notwithstanding any such designation, Alpha Impact may amend, suspend, end, or declare any Trading Competition Event completed, in whole or in part, at any time for any reason. Additional terms may apply for each Trading Competition Event. These additional terms will be stated on the Website, and are in addition to these Trading Competition Terms.
  • Authority to refuse or disqualify: Impact may refuse or disqualify any participation in a Trading Competition Event, in whole or in part, at any time for any reason.  
  • Modification of Details: Alpha Impact retains full authority to, at its sole discretion, modify the details of the trading competitions including the duration or prizes. 
  • Multiple simultaneous Trading Competition Events: Alpha Impact may run simultaneous trading competition events. Users may be unable to participate in multiple trading competitions simultaneously. 
  • Errors in allocations of Virtual Assets: If for whatever reason there are any errors in the calculation of prizes or winners or any other such type of calculation affecting to any part of the competition, Alpha Impact will have the right to take remedial actions to correct the error. If the error cannot be rectified Alpha Impact will settle the competition by electing winners according to its sole discretion. 
  • Limitation and Maximum Liability: Participants indemnify and will keep indemnified Alpha Impact and their agents from any loss, liability, cost, or expense resulting from participation in this competition. The maximum aggregate liability of Alpha Impact under or in connection with this agreement, whether in contract, tort (including negligence), breach of statutory, or otherwise must not exceed the fees payable by the participant in order to enter this competition,
  • Power to revise: Alpha Impact may revise or cancel these Trading Competition Terms at any time without notice to participants or other stakeholders.
  • Power to upgrade, downgrade or cancel: Alpha Impact may upgrade, downgrade or cancel the Trading Competition or access it at any time.
  • Notification: Alpha Impact will seek to notify material changes to the Trading Competition, a Trading Competition Event, or these Trading Competition Terms on the Website, but any failure to do so does not result in any liability on Alpha Impact’s part.
  • Disclaimer of liability: Unless any Applicable Law prohibits Alpha Impact from excluding or limiting its liability or where the Loss is directly caused by its own gross negligence, fraud, or wilful misconduct, Alpha Impact is not liable for any loss incurred in connection with a Trading Competition Event.
  • No prospectus or solicitation: Nothing stated in these Trading Competition Terms or in respect of a Trading Competition Event is a prospectus or a solicitation for investment and does not pertain in any way to an offering of securities in any jurisdiction. Alpha Impact makes no representation regarding the regulatory or legal status of any Virtual Asset. Alpha Impact will not make any attempt to register any Trading Competition Event under any legal or regulatory regime, nor is Alpha Impact aware of any review of the Trading Competition by any regulatory authority in any jurisdiction. Alpha Impact does not hold itself out as carrying out any regulated activity in any jurisdiction. Under no circumstances do these Trading Competition Terms any other material relating to the Trading Competition or a Trading Competition Event constitute a recommendation or advice of any kind.
  • Due diligence: Before participating in a Trading Competition Event, a participant must conduct their own due diligence and ensure that their participation complies with Applicable Law, including with respect to Virtual Assets, Taxes, and securities. By participating in the Trading Competition, a participant represents and warrants that it is lawful for them to do so.
    • Risk factors: The Trading Competition and each Trading Competition Event involves risks, some of which are set out in the Annex to the Exchange Terms and Conditions. In addition, the following risks may apply Partial or total loss of Virtual Assets, or of any value attributed to Virtual Assets.
    • The collapse in liquidity with respect to a Virtual Asset.
    • Changes in the compatibility of a Virtual Asset with any Trading Competition Event.
    • Regulatory uncertainty with respect to Virtual Assets and/or DeFi projects, and government action against Virtual Assets and/or DeFi projects, and persons involved in Virtual Assets and/ DeFi projects.
    • Loss of Virtual Assets in any Trading Competition Event.
    • Counterparty risk arising from the use of third-party exchanges which Alpha Impact does not control.

A participant must consider carefully whether the risks are acceptable before participating in a Trading Competition Event.