VALR Unveils Major Trading Competition with Unprecedented Prize Pool

FinanceFeeds Editorial Team

VALR, which is the Pantera-backed cryptocurrency exchange, is planning to start its Grand Slam of Trading Competitions soon.

Crypto Trading theme with person using a phone

Set to begin on 1st of May and lasts for 12 months, the new project is poised to have the largest prize pool in Futures trading, bringing to the table more than 60 million USDT. The principle of the competition is to classify both top-level professionals and private traders, already acknowledged by the leading market trading companies all over the world.

The Competition will kick-off with all VALR users who deal with Perpetual Futures trading. The prize pools’ amount will vary depending on the overall trading volume of the futures trades, starting at 30,000 USDT and up to 5 million USDT for the top monthly traders. This structure is specifically intended to improve the platform’s liquidity and market activity, thereby enhancing the user attraction and continued growth of the mentioned medium.

In conjunction with the primary prize pool, VALR has developed a novel format for its monthly futures competition, using the platform. Providing more than 1 million USDT as the prize, these tournaments give money for those who have shown a certain degree of involvement but not for the volume of trades. The goal of the project is to free the playing field, to give all traders a hope to compete and receive the win.

Co-Founder and CEO of VALR, Farzam Ehsani was hugely excited towards this partnership. “I’m totally pumped about roaring off with the Grand Slam of Trading Competitions VALR with such a big prize pool,” Ehsani said. He mentioned it strongly and clearly about some of the largest trading companies that give the support and interest in the venture thus the initiative will revolutionize the VALR as the users.

Since then last year we got started in the market, we have astonishingly grown to be over half a million retail traders and 1000 corporate and institutional clients worldwide. Aiming to be a key player in the international crypto field, VALR is a crypto exchange based in South Africa and already has approval from Dubai’s VARA and Poland’s Ministry of Finance. The trade additionally has raised $55 million from investors like Coinbase Ventures and Avon Ventures, a subsidiary of Fidelity Investments, a proof of their high demand and wanted to be part of the business.

For more information on the program, visit valr.com/grand-slam

About VALR

Established in 2018, VALR is a leading cryptocurrency exchange that serves more than 1,000 corporate and institutional clients as well as over 500,000 users worldwide. Based in Johannesburg, South Africa, VALR has successfully raised $55 million in equity funding from famous investors. Some of those include Coinbase Ventures, Pantera Capital, and Avon Ventures which is linked to Fidelity Investments’ parent company. For more details, refer to the VALR website.

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