During the event, separate BTC Net Return and ETH Net Return leaderboards will be established each week. The top 5 users by Net Return on each leaderboard will receive the corresponding rewards.

Weekly Options Net Return = realized Profit/Loss (PnL) from Options Trading during the week
Only the Options Net Return for the underlying asset corresponding to the user's enrolled camp is counted. Unrealized Profit/Loss (PnL) from open positions is not included in the weekly rankings.

Event 2: Volatility Team Rewards, Share a 20,000 USDT Prize Pool

The event runs for 4 consecutive weeks. Eligible users in the winning team each week will share 5,000 USDT. The total prize pool for the four-week Volatility King Team Rewards is 20,000 USDT.

Users must reach the required options trading volume for the week to qualify for a share of the rewards
Definition of valid options trading: options premium trading volume ≥ 100 USDT

Event Details:

Choose your team and trade BTC or ETH options. Rankings are calculated independently each week, and rewards are distributed weekly for four consecutive weeks.

Core Mechanics

Participants do not need to choose a team manually. Your first options trade completed each week determines your team for that week: if your first trade is a BTC option, you will join the BTC team; if your first trade is an ETH option, you will join the ETH team. Teams are reassigned each week and cannot be changed once determined for that week.
The event runs for 4 consecutive weeks. Weekly results are calculated starting at 00:00 (UTC) every Monday, and results from the previous week do not carry over to the next week.
Each week is calculated, ranked, and rewarded independently.

Volatility King Team Determination Rules:

Each week, the absolute weekly price change of BTC and ETH from the start to the end of the week will be compared. Both upward and downward movements count as volatility.

Calculation Formula:

Weekly Change % = (This Week's Closing Index Price − This Week's Opening Index Price) / This Week's Opening Index Price × 100%

Weekly Volatility = the absolute value of the Weekly Change %, the asset with the higher Weekly Volatility becomes this week's "Volatility King," and its corresponding team wins.

Calculation Example:

Assuming that week: BTC's weekly Change was +6%, and ETH's weekly Change was -8%.

Then: BTC's Weekly Volatility is 6%, and ETH's Weekly Volatility is 8%.

Therefore, the ETH team is this week's Volatility King.

Price Basis:

The BTC price uses the platform's BTC/USDT Spot Price.
The ETH price uses the platform's ETH/USDT Spot Price.
The opening price is the opening price of the 1-minute candlestick corresponding to 00:00:00 (UTC) every Monday.
The closing price is the closing price of the 1-minute candlestick corresponding to 23:59:00 (UTC) on the following Sunday.

If BTC's and ETH's Weekly Volatility are exactly the same after being rounded to four decimal places, both teams are declared winners and split 2,500 USDT equally.

Participants must click the [Join Now] button on this event page to register and complete Identity Verification to receive rewards.
Rewards will be distributed in USDT and credited to users' accounts within 5 business days after each weekly event ends. Please check your inbox for notifications.
Batch account registration, malicious volume inflation, self-trading, wash trading, and other fraudulent activities are strictly prohibited. Multiple accounts belonging to the same verified user will be treated as a single account.
Market maker, institutional, and affiliate accounts are not eligible for the prize pool.
Deep OTM options volume is not counted in event statistics.
Gate reserves the right to adjust event rules, the prize pool, and distribution method based on actual circumstances.
If there is any discrepancy between the translated version and the English version, the English version shall prevail.
Due to changes in market conditions, fraud risks, and other factors, Gate reserves the right of final interpretation for this event. For any questions, contact Gate Customer Support.

BTC/ETH Weekly Return Rankings	Rewards
1	500 USDT
2	400 USDT
3	300 USDT
4	200 USDT
5	100 USDT

BTC vs. ETH Volatility King Trading Competition

Event Details:

Event Rules