75M Gems Prize Pool
Velvet Perps trading contest
70% PNL
30% Volume
Top 25 each
Ends August 9 - 07:00 UTC+5
Trade perps00Days
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How to participate
Trade once the contest starts and before the end date, by trading perps on VelvetX you are automatically registered.
- Trade perps on Velvet: Both buying and selling must be done on VelvetX to qualify
- Maximize your PNL and Volume to climb both leaderboards
- Prize pool split: 70% PNL / 30% Volume
- Top 25 in each category share the 75M Gem pool
Top Ranking
Rankings are updated every 5 minutes.
Ranking by PNL
| Rank | Wallet | Volume | Total PNL |
|---|---|---|---|
Ranking by PNL
| Rank | Wallet | Volume | Total PNL |
|---|---|---|---|
Ranking by Volume
| Rank | Wallet | Volume |
|---|---|---|
Rewards Breakdown
8.4M Gems8,400,000 GemsRank 1
5.78M Gems5,775,000 GemsRank 2
4.2M Gems4,200,000 GemsRank 3
3.15M Gems3,150,000 GemsRank 4
2.63M Gems2,625,000 GemsRank 5
2.1M Gems2,100,000 GemsRank 6-10
1.57M Gems1,575,000 GemsRank 11-15
997.5K Gems997,500 GemsRank 16-25
Must Know Before Participating
1. Contest Period:
Ends August 9 - 07:00 UTC+5
2. Contest Rules:
- Only Perpetual (Perps) trades on VelvetX count toward the competition. Spot trades and other activity do not count.
- All trading must be done through the VelvetX website, mobile app, or Telegram bot with a connected wallet.
- Positions must be held for a minimum duration to count — instant open/close churn will not be counted.
- No wash trading, self-trading, or collusion between linked wallets. Detected activity may result in disqualification.
- No manual transfers in or out intended to manipulate PNL or volume rankings during the contest.
- Market/token creation, exploits, or any fraudulent activity is strictly prohibited.
- Wallets that do not follow the eligibility or contest rules may be disqualified.
3. How to Win:
- After the contest ends, Velvet will rank eligible wallets on two leaderboards: PNL and Volume.
- Top 25 by PNL share the 52,500,000 Gem pool (70%); top 25 by Volume share the 22,500,000 Gem pool (30%).
- PNL is measured as realized + unrealized, marked to the August 9th close snapshot.
- A wallet may place on both leaderboards and receive rewards from both.
- Rewards will be distributed within 24hrs after the contest.
4. Velvet reserves the sole and final right of interpretation for this contest.