100,000 USDT Prize Pool Up for Grabs! NewDegen 2023 On-Chain Trading Competition: Registration Now Open!

Bitget Wallet
8 min readOct 17, 2023

Boasting a prize pool of 100,000 USDT and three exciting events, the NewDegen 2023 On-Chain Trading Competition arrives amidst this bear market!

Download Bitget Wallet App. Navigate to the Swap or Profile page, and tap on the “NewDegen 2023 On-Chain Trading Competition” banner to participate in the event.

Spearheaded by Bitget Wallet and in collaboration with renowned project partners, media, and KOLs, the NewDegen 2023 On-Chain Trading Competition is a grand event for global DeFi enthusiasts. Spanning 30 days, the competition invites participants to enroll through the event page and start trading using Bitget Swap. As the event reaches its culmination, participants stand a chance to win a substantial cash reward worth 100,000 USDT based on their performance metrics such as return on investment (ROI), net investment earnings, and cumulative transaction volume. Additionally, the winners will be conferred with the esteemed SBT Medal of Honor.

“Degen” signifies a seasoned and risk-taking DeFi enthusiast, a pivotal force steering the growth and evolution of the DeFi landscape. It envisions a future where crypto investors are welcomed into a more liberated, open, and decentralized on-chain world, eventually blossoming into DeFi mavens and representing the new era of Degens.

After our rebranding to Bitget Wallet, trading becomes our focal point. Bitget Wallet aims to immerse users in the allure of on-chain transactions by offering a richer array of high-quality assets and more streamlined and faster transaction services. The NewDegen 2023 On-chain Trading Competition unfolds as a golden opportunity. Whether you have been a patron of Bitget Wallet or are new to this platform, the aspiration is for everyone to delve into the excitement and reap substantial gains through this competition!

How to participate

  • The competition is exclusively open to Bitget Wallet App users. Bitget users must download the Bitget Wallet App, enter the event page, and register to participate in the contest.
  • Participants must hold assets worth ≥ 100 USDT or tokens of equivalent value in their wallets to activate their registration. Only registrants who have conducted swap transactions ≥ 50 USDT during the event will be considered eligible for selection in subsequent stages of the competition.

Three Major Categories

1. Individual Competitions

In the thrilling individual competition, solo participants will battle it out to showcase their keen investment insights and masterful strategies, striving for the highest return on investment (ROI) and net investment earning. Do you have what it takes to be a Gem Hunter or the epitome of Smart Money? Let’s find out!

The massive prize pool of 50,000 USDT awaits the victorious, with two primary awards and a special award based on participants’ net earnings and ROI during the competition. Here are the details:

SmartMoney Award

Total Prize Pool: 25,000 USDT. Champions and participation awards will be selected based on the net earnings accrued during the competition period.

GemHunter Award

Total Prize Pool: 25,000 USDT. Champions and participation awards will be selected based on the return on investment (ROI) with net earnings ≥ 100 USDT.

StupidMoney Award

The crypto realm can be a rollercoaster ride of highs and lows, where gains are celebrated while losses are often viewed with a heavy heart. However, to infuse a sense of humor and lighten the spirits, the playful StupidMoney Award is introduced. Consider it akin to the Golden Raspberry Award or the Ig Nobel Prize, encouraging participants to find joy in the journey, irrespective of the outcome.

Total Prize Pool: 2,000 GASU. Champions will be selected based on the net losses accrued during the competition period.

2. Squad Competitions

Participating users can apply to create and rally their friends to form a dynamic squad. Form a squad with at least 3 members and stand a chance to win enticing rewards. Participants can join a squad using a unique squad code. Each participant is allowed to join one squad only but can participate in both individual and squad competitions.

Gather your friends, fans, and community members for a shot at the competition! Compete with the number of squad members and the squad’s total transaction volume and win the NewDegen 2023 On-chain Trading Competition HOT 5 and VOL 3 titles and a grand prize pool of 40,000 USDT!

Squad Welcome Gift

All participating users are eligible to apply as squad captains. To apply as a squad captain, participants must hold assets worth ≥ 100 USDT and have conducted a swap transaction of ≥ 50 USDT within 14 days of the event.

A minimum of 3 participants is required to form a squad (determined based on the number of devices used; multiple addresses from a single device do not constitute a valid squad). All squad members must meet the criteria for final selection and rewards: hold ≥ 100 USDT and swap ≥ 50 USDT during the event.

Successfully formed squads will receive GASU rewards, with 50 GASU for the captain and varying rewards between 5 to 20 GASU for the squad members.

HOT 5 Squad Award

Total Prize Pool: 20,000 USDT. Champions and participation awards will be selected based on the highest number of squad members accumulated during the event.

Squads ranked from 6th to 100th will proportionally share in a 2,000 USDT prize pool based on their rankings. The squad captain will receive 50% of the rewards, and the remaining 50% is shared equally among the other squad members.

VOL 3 Squad Award

Total Prize Pool: 20,000 USDT. Champions and participation awards will be selected based on their cumulative trading volume during the event.

Squads ranked from 4th to 100th will proportionally share in a 2,000 USDT prize pool based on their rankings. The squad captain receives 20% of the rewards, and the remaining is distributed among the top three traders in the squad as 40%, 28%, and 12%, respectively.

3. Social Media King Contest

Aside from trading, the event extends into the social realm with the Social Media King contest, giving out a generous prize pool of 10,000 USDT to encourage community engagement through Bitget Wallet’s official X (Twitter), Telegram, and Discord channels. Follow these channels to participate in the contest.

Terms and Conditions

1. The competition is exclusively open to Bitget Wallet App users. To participate, Bitget users are required to download the Bitget Wallet App, navigate to the event page, and register for the contest.

2. Participants must hold assets worth ≥ 100 USDT or tokens of equivalent value in their wallets to activate their registration. Only registrants who have conducted swap transactions ≥ 50 USDT during the event will be considered eligible for selection in subsequent stages of the competition.

3. The event tracks on-chain data from the following mainnets: Ethereum, BNB Chain, TRON, Polygon, Arbitrum, Optimism, zkSync Era, Base, and Linea.

4. Participants are required to conduct swap transactions involving tokens (cryptocurrencies) listed by Bitget Wallet during the event. Tokens flagged with “Token not audited. Be aware of risks” warning are excluded from the competition.

5. During the event, participants who trade tokens from the following sponsored partners stand a chance to receive random airdrops ranging between 5 and 100 USDT. The specific projects and associated tokens are as follows: BAD (Bad Idea AI), WALV (Wrapped Alvey Chain), and FINE (Fine).

6. Calculation of Net Earnings and Return on Investment: The organizing committee will take a comprehensive snapshot of the assets held by participants and their transaction records on Bitget Swap at the beginning and conclusion of the event. The Net Earnings (in USDT) and Return on Investment of all participants during the event will be calculated according to the snapshots to determine the ranking. Net Earnings: The cumulative swap earnings associated with the participant’s address. Return on Investment (ROI): The cumulative swap earnings associated with the participant’s address divided by the cumulative cost of the swap transactions. Example: User A holds 1 ETH and 1,000 USDT in their wallet at the onset of the event. User A conducted a swap transaction of 0.5 ETH (then valued at 813 USDT) to acquire 523 LDO. At the event’s conclusion, these LDO tokens appreciated to 1,000 USDT. Consequently, the Net Earnings of User A is 1,000 USDT — 813 USDT = 187 USDT, while the Return on Investment is 187 USDT / 813 USDT = 23%.

7. Calculation of Squad Member Count and Squad Total Trading Volume: Squad Member Count: The total number of squad members in the final snapshot taken at the conclusion of the event. Each squad member must meet the eligibility criteria of holding assets ≥ 100 USDT and have conducted a swap transaction ≥ 50 USDT during the event period. Squad Total Trading Volume: The cumulative Swap trading volume on Bitget Swap involving all squad members in the final snapshot taken at the conclusion of the event.

8. About GASU:

GASU Introduction: https://www.bitget.com/web3/academy/what-is-gasu

GASU Use Cases: https://www.bitget.com/web3/academy/how-to-use-gasu

How to Activate Cloud Wallet: https://www.bitget.com/web3/academy/how-to-activate-my-cloud-wallet

The GASU obtained from this activity must be utilized within 7 days post airdrop. All unused GASU will be reclaimed after this period and deemed forfeited by users.

Reward Distribution and Terms

All event rewards will be distributed to eligible users within 7 working days after the event’s conclusion, with a 3-day publicity period commencing thereafter. Should you have any inquiries, feel free to provide feedback to the officials at Bitget Wallet. Rewards will be distributed after the publicity period.

Bitget Wallet holds the right to the final interpretation of this event. Any participant found using improper methods or cheating may have their event rewards and redemption qualifications revoked upon verification.

Thank you for your support and trust in Bitget and Bitget Wallet. The NewDegen 2023 On-chain Trading Competition eagerly awaits your registration!

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