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This article consists of the Terms & Conditions for the Bitsgap and KuCoin Promo held from November 15th until December 15th, 2021.
1. Competition rules
The Competition is sponsored by Bitsgap Holding OU hereinafter referred to as “Bitsgap” and “the Company.”
The Scalper Bot Trading Competition hereinafter referred to as the “Competition” is a one-off event, aimed at promoting one of the products (Scalper bot).
The Competition starts at 12:00 P.M. (UTC) on November 15, 2021 (“Start Date”), and ends at 11:59 P.M. (UTC) on December 15, 2021 (respectively, the “End Date” and the "Competition Period”).
Launching a Scalper bot on the KuCoin exchange during the Competition Period constitutes your participation in the Competition and your agreement to these Rules. You will not be eligible for the prize unless you agree to these Rules.
2. Participation Eligibility
Only persons of legal age (18 or older) can take part in the Competition.
The Competition is available to all Bitsgap account holders (hereinafter referred to as “Participants”) who have their active KuCoin exchange accounts available for Spot trading and connected to Bitsgap trading bots via API.
In order to enter part in the Competition, a minimum of 500 orders must be executed by at least one Scalper bot launched by a client on KuCoin exchange during the Competition Period.
Each client is eligible to operate with only one account when participating in the Competition. Users participating who have more than one trading account will be eligible for one reward only. Users operating multiple accounts in violation of these rules in order to benefit from the Competition will not be entitled to receive any prizes.
All Trading Account types are eligible to participate in the Live Trading Competition: Basic, Advanced, Pro, Trial, Limited, and Free.
To be eligible to participate in the Competition, the Participants must possess a number of digital tokens of their choice on their KuCoin account which is sufficient to start at least one Scalper bot.
The Participant may enter the Competition on any day between the Start day and the End day.
Each Participant can launch up to 5 Scalper bots in addition to his/her current subscription plan and use them for generating revenue from Spot trading on the KuCoin exchange.
3. Winning Criteria and Prize Structure
The participants with the highest % in Total Yield calculated by the time of 23:59 (UTC) on December 15 who also adhere to all other conditions set herein shall be announced as winners.
Competitors do not have to stop their bots manually after the Competition Period is over.
The Total Yield % is calculated as the sum of all Scalper bots profits divided into the sum of initial investments.
The Total Yield calculation will be based exceptionally on the Live performance of Scalper bots launched by each Competitor on KuCoin.
The Competition statistics will be available on the Company’s social media accounts, weekly updates shall be publicly available on the Company’s blog each Sunday during the Competition Period.
Each Competitor’s personal statistics will be updated every hour and available on the Company’s website (www.bitsgap.com) during the whole Competition Period.
The Competition features a dynamic Prize Pool with the initial amount of 10,000 USDT that will be increased by 10 USDT each time when a new Competitor enters the Competition (see 2.3.)
The Prize Pool will be distributed among 250 winners according to the following structure (see below)
The list of cash prize winners will be definitive within 3 business days following the end of the Competition.
The share of the Prize Pool in accordance with the winner’s rank is paid into the winner's Bitsgap affiliate account within 3 business days of the announcement of the winners. These funds can be withdrawn according to the Company's regular withdrawal rules (minimum deposit available for withdrawal is 25 USDT).
The Company reserves the ultimate right to declare any prize already given invalid and subject to cancellation upon direct or indirect evidence of attempted fraudulent operations during the Competition Period.
This Competition and prizes offered should not be considered as an incentive to trade. Only partake in the Competition when you feel you are ready to trade.
Each contestant agrees that some of his/her registration data (including but not limited to country of residence), as well as his/her trading activity with Scalper bots during the Competition Period might be shared publicly as a part of a promotional campaign for the Competition.
The Company further reserves the right to publish the winners' trading IDs/Names and counties, in any form or media whatsoever within 20 business days from the End Date.
If Bitsgap does not receive a sufficient number of Participants meeting the entry requirements, it may, at its own discretion, select fewer winners than described below.
Prize Structure
Winner’s Rank | Number of winners | Share of the Prize Pool per Rank |
1 | 1 | 20,0% |
2 | 1 | 15,0% |
3 | 1 | 10,0% |
4 | 1 | 7,5% |
5 | 1 | 6,0% |
6 | 1 | 5,0% |
7 | 1 | 4,0% |
8 | 1 | 3,0% |
9 | 1 | 2,0% |
10 | 1 | 1,0% |
11-25 | 15 | 5,0% |
26-100 | 75 | 13,0% |
101-150 | 50 | 5,0% |
151-200 | 50 | 2,5% |
201-250 | 50 | 1,0% |
4. General Rules
The Company reserves the right, in its sole judgment and discretion which will be final and binding, to reject or disqualify any participant who is breaching the terms set herein and, in all cases, when the Company has reasons to believe that the contestant is engaged in fraudulent or otherwise unfair trading methods/practices including but not limited to:
Any kind of IP match between two or more participants.
Any kind of abuse with pricing and/or quotes.
The Company reserves the right to change the terms of the Competition or cancel it at any time without prior notice and without any liability to the participants.
If there is any conflict or inconsistency between the English and the translated version of this document, the English shall be the governing and prevailing version.
Any other disputes that may occur in regards to this Competition are subjected to General Terms and Conditions.
5. Restricted Regions
The competition will not be provided to residents of the territories who are not eligible to perform trading activities on the KuCoin exchange or within the territories where the activity of the KuCoin exchange is prohibited by the Law.