TRADING CONTEST
Overview
The YFX Launch Challenge is a simulated FX trading contest accessible via the YieldFX app. Its purpose is to help retail investors discover the investment potential of FX trading and global currency yields, and illustrate the ease with which YieldFX can make these accessible.
Each participant starts with a USD 100,000 mock balance and gets 30 days to maximize the value of their portfolio by investing in, and trading available high-yield currency deposits.
All prizes and activity-based rewards will be in the form of placeholder YFX tokens will be convertible on a 1:1 basis when the token is launched early next year.
Prizes and Rewards
Contest Rules and How To
1) All participants must register for the contest within the registration window (November 15th - November 24th).
2) The YieldFX web app is designed to be mobile first, and users must access it via their mobile phone to create an account. No app installation is required. Once an account is created, users can also access the YieldFX app from their computers.
3) Each participant gets a $100,000 starting balance in a non-interest bearing “external” account. These funds can be used to invest in yield-bearing currencies. For the contest, all user accounts will default to USD as their home currency.
4) During the contest, participants can invest in any currency or swap between different currencies to take advantage of FX and interest rate movements.
5) All transactions are based on real-time FX rates sourced from our partner FX provider and settle immediately.
6) Participants may not hold more than 20% of their portfolio in a single foreign currency.
7) A 5bps fee will be applied to all currency swaps.
8) Interest is credited on a daily basis. Earnings will be determined based on currency balances in user accounts at midnight each day.
9) The YieldFX app allows transfers to other users. It is recommended that users do not make transfers during the contest period as it may affect their earnings.
10) A real-time leaderboard will be displayed within the app. Rankings will be based on percentage yield and not on the value of the portfolio to account for any external transfers.
11) Each contestant will get 30 days from when the enroll in the contest. Final ranking will be determined when each participant completes 30 days.
Safety & Security
Contest participants do not need to share any personal information with YieldFX beyond their name, email address, and phone number. The app itself is web-based, and does not require an installation on their device.
YieldFX DOES NOT share this data with any 3rd party for any purpose. The primary use of this data is for account management, updates, and to gather user feedback.
