Morpher is the first truly global trading platform, with users from around the world (180 countries). To celebrate our talented traders, we're launching an international competition with big MPH prizes for the victors.

Spring 2022 Competition
Prize Pool
The total prize pool is 100,000 MPH. This prize will be split among the top six traders in the following way:
1st Place: 50,000 MPH
2nd Place: 25,000 MPH
3rd Place: 10,000 MPH
4th Place: 5,000 MPH
5th Place: 5,000 MPH
6th Place: 5,000 MPH

Dates & Duration
Start Date: Tuesday March 15th at 10:00 UTC
End Date: Friday May 13th at 10:00 UTC

All traders must enroll in the competition before March 15 at 10 UTC. It will not be possible to join the competition after it starts.
Minimum Balance
Your total portfolio value (invested + cash balance) has to be greater than 1 MPH during the entire competition. If the value drops below 1 MPH at anytime, you will be disqualified. Keep in mind 1 MPH is a very tiny amount and should not be a significant barrier to participating in the competition.

How it Works
Tier 2 users enroll their accounts to compete before March 15th, 2022.
Competition lasts two months, tracking each competitors portfolio returns during that time.
The individual portfolios with the highest returns are awarded prizes.

Eligibility
Any active Morpher user with a Tier 2 account is eligible to enroll and compete. Employees and anyone with a direct affiliation with Morpher Labs GmbH is not eligible to receive a prize. Users from countries not supported by Morpher are currently ineligible.

Active vs Passive Traders
Traders can just buy and hold markets, or trade hourly if they want, whatever suits them best. All that matters is their returns over the competition period.

Existing positions
Users enroll in the competition with their existing accounts & portfolio. That means your existing positions can help or hurt you, since only their relative gain during the competition is factored in (not any previous performance).

Depositing and Withdrawing
You should be able to deposit and withdraw without directly impacting your portfolio return and competition rank. Changes in cash balance will impact your return over time (see the calculation below).

Competition Leaderboard
Your Morpher username is shown publicly, please keep that in mind when deciding to enroll or not. The competition leaderboard is updated (at least) daily, and shows the rankings and returns as if the competition would end that day.

Staking
Morpher Savings are not counted towards your portfolio returns. Staking events are excluded from the competition returns. That being said, staking is potentially an effective strategy for indirectly boosting your returns.

Both your invested amount and cash balance are part of your portfolio return. That means if you only invest with 50% of your cash balance, your returns will be smaller than someone investing 90% with the same strategy. Instead of risking all your MPH, you can move the rest of your MPH into savings. That way you are effectively investing 100% of your portfolio, while also generating a passive income on your savings.

Move your unused MPH into Morpher Savings to increase your returns and generate a passive income.
Returns Calculation
Total return is calculated as the cumulative product of 15 minute returns. Your portfolio is measured every 15 minutes, and these returns are multiplied together to form a single representative value.
15 minute return calculation
Pt is current portfolio value. It includes the total value of all positions plus the cash balance. It does not include Savings.
Deposits and withdrawals are removed from the equation.
If Pt-15 < 1, the return will be set to 0 and disqualify the user.
If R15 is somehow negative, the return will be set to 0 and disqualify the user.
Total return is the cumulative product
This produces one representative value for total returns. For example 1.1 means a total return of 10%. A value of 0.95 means a total return of -5%.

Additional Terms & Conditions
Keep in mind that the terms and rules are subject to change at any time at our discretion. Including the cancellation of any competition at anytime. With that in mind, your participation is completely voluntary and non-binding, you can leave the competition at any time. Enrolling in the competition is free and no purchase is necessary. All participants agree to have their Morpher username and Ethereum address shared publicly, including in Morpher marketing materials.

In order to be eligible, participants must have a valid Morpher account and have successfully passed KYC verification (Tier 2 status). Participants must also have valid KYC documents when claiming a prize. If a participant's verification documents are found to be invalid, they will be disqualified. Any participant may be disqualified from the competition at our discretion, usually as a result of bad faith engagements, tampering, or other sorts of shady activities.

Winners will be announced at a future date, after the conclusion of the two month competition period. Prizes will be disbursed through a one time airdrop on the Morpher Sidechain to the user’s Ethereum address. Claiming a prize does not affect a user’s Tier status. Accounts below Tier 3 will not be able to withdraw the prize funds until they are approved for Tier 3. The prize funds do not count as a user deposit, and will not unlock Tier 3. Users will still need a valid KYC application and a one-time deposit to be able to withdraw the funds. Claiming the prize may require consent and confirmation via email in a timely manner. Failure to respond to email communications concerning the competition prize may disqualify a potential recipient. Users have the right to refuse the prize, there is no requirement to claim the prize to continue using Morpher.

No Contractual Relationship: The Morpher Tokens distributed in connection with the airdrop and referral program are 'gifts' pursuant to § 938 of the Austrian General Civil Code and do not confer any rights, neither statutory nor contractual, on recipients.
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