VALR, a leading cryptocurrency exchange, has announced the launch of a groundbreaking trading contest with a prize pool that surpasses $60 million USDT. It is not just raising the stakes but also its profile, as it aims to stand shoulder-to-shoulder with giants like Binance and Bybit.
A new era of crypto trading competitions
Starting this May, VALR will embark on a year-long journey with the Grand Slam of Trading Competitions, designed to captivate both professional and amateur traders worldwide. This strategic move is more than just a contest; it’s a statement of VALR’s aspirations to become a top contender in the global crypto exchange arena.
The Grand Slam is set to revolutionize the way trading competitions are perceived. Participants engaging in Perpetual Futures trading will find themselves automatically entered, with monthly prizes ranging from $30,000 to an eye-watering $5 million USDT. The prize distribution is linked to the collective trading volume, a tactic aimed at bolstering market liquidity.
The exchange is leveling the playing field with separate monthly futures trading contests, each boasting over $1 million USDT in prizes. This inclusive approach ensures that traders from all categories have a shot at victory, not just the seasoned veterans and crypto whales.
“I’m extremely excited about launching the Grand Slam of Trading Competitions on VALR with such a significant prize pool. Some of the largest trading firms in the world have already indicated their support and strong interest in the program, signaling that for both VALR and our growing user base, this initiative is set to be a game-changer. With this program, our goal is to create an environment where everyone has a chance to succeed in winning a share of tens of millions of dollars a year.”
—Farzam Ehsani, the Co-Founder and CEO of VALR
VALR’s achievements
Since its inception in 2018, VALR has been on an impressive growth trajectory. It serves over 1,000 corporate clients and a retail trader base exceeding half a million. The exchange has secured regulatory licenses in South Africa and preliminary approvals in Dubai and Poland. On top of that, VALR has secured $55 million in funding from heavyweight investors like Pantera Capital and Coinbase Ventures.
Conclusion
VALR is poised to change the perception of trading competition. It’ll challenge the status quo, offering a compelling suite of services that could position VALR next to giants like Bybit and Binance. The Grand Slam of Trading Competitions is not just a contest; it’s the beginning of a new chapter for VALR and the world of crypto trading.
