First Ever Tealstreet Trading Competition

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Welcome all ye traders, travelers, hobbits, wenches, and everything in between.
Tealstreet summons you to take part in a most grand adventure – one likely never forgotten. Those courageous enough to take on this challenge shall undoubtedly encounter danger, mystery, and enchantment. Yet, make no mistake, remarkable bounties await those who might lay claim to title and victory. Gather your courage, pack a second breakfast, and keep in mind; something you cannot afford to lose is not worth risking. The future holds more than one great opportunity for adventure. So, take heed and survey the information contained within this page.

Map of Middle Earth

Chapter One: The Shire

The Shire

Your journey shall begin amongst the green meadows of The Shire. As every adept traveler knows; adequate supplies are obligatory before embarking on such travels. Complete the tasks as outlined below before venturing beyond the Shire’s borders:

First, query the trading outfitter known as Bybit to see if their books have record of your lineage. If you’ve never visited the vast halls of Bybit, you will need to follow their directives to initiate an account.  Let it be known that no journey can begin without one! Gather a minimum of 300 USDT and supply it to your designated Bybit coffers.  If you do not hold vast treasures – fear not! Even the most meager explorers among us can complete the journey and be hailed among the victorious few.  Visit the smith known as Tealstreet to sharpen your trading blades. You’ll need to link your Bybit details within your Tealstreet account. Once you’ve completed your Bybit and Tealstreet orders continue onto the next steps of your quest which lie beyond the Shire.

Adventures

Chapter Two: Rivendell

Rivendell

A short distance from the comforting fields of the Shire lies the Elven town of Rivendell. Whilst its striking architecture may capture your attention, seasoned travelers remain abreast of the Rivendell scrolls. Follow the words of Rivendell to be crowned a Champion:
 Participants will compete for the highest Individual P&L(%).
 Participants may trade only with USDT Perpetual Contracts. Trading volume on other contracts will not be taken into account.

Ranking

 If a participant’s trading volume in the cryptocurrencies does not meet the volume requirement, the P&L(%) of the cryptocurrency with the highest P&L(%) will be listed in the ranking, but the participant will not be awarded, unless the volume requirement is met before the end of each competition.
 If two participants produce the same P&L(%) or Effective P&L(%), the final ranking will be determined by their total trading volume.

Award Criteria

The highest prize pool for this competition is 20,000.00 USDT.
 The final results will be shown on the main page once confirmed. All rankings are not final, until confirmed by a result announcement displayed on every participant’s ranking page.
 The award will be credited to the top winners in terms of Individual P&L(%), and it will be based on the total number of participants and the unlocked prize pool.
 In order to be awarded, the participants with the highest Individual P&L(%) in the top ranking will need to meet the required trading volume set in order to be awarded.
 The award will be credited to the winning Bybit accounts within 15 working days from the result announcement; winners are able to make withdrawals upon the receipt of the award.
 In addition to the prize pool, the top 3 traders will each win a unique TraderSamwise x Bybit Competition NFT representing their unparalleled skill and determination in this competition and providing eternal proof of their status as a legendary trader.
 Top 3 winners will receive an email from Tealstreet directly to provide a Solana wallet address.

NFTs for top 3 winners

P&L (%) Calculation Formula

P&L(%) = Profit / (Inital Equity + Total Deposits) * 100% 
 Profit = [Account Final Equity (incl. unrealized P&L and/or bonus)
– Account Initial Equity (incl. unrealized P&L and/or bonus) + Withdrawal amount during the competition – Deposit amount during the competition]
 Deposits = Accumulated deposits (incl. transfers, awarded bonus, commissions, asset exchange) during the competition period
 Withdrawals = Accumulated withdrawals (incl. any withdrawals and asset exchange) during the competition period

Chapter Three: Moria

Moria

Beyond Rivendell lies the mythical Moria. Its canopies mark the second resting place on the path to glory. Like Rivendell, the tomes of Moria contain ancient wisdom. Wary adventurers would be wise to take heart all the details provided lest they become outcasts. Any traders who partake in dark magic or sorcery shall be outlawed from the competition and stricken from the records. The lords of Bybit are steadfast arbiters of any disputes.

Terms and Conditions

 Bybit reserves the right to disqualify a user if he/she engages in any inappropriate, dishonest or abusive activities (such as wash trading, volume faking, participating using multiple accounts, market manipulation, etc.) during the competition. 
If users with similar trading strategies have been detected by our risk detection engine, only the participant with the highest P&L(%) will be allowed to continue in the competition.
 If users have been detected to have engaged in matched trading activities by our risk detection engine, all associated users will be disqualified from the competition.
 During the competition, any user who cancels more than 10 orders per minute may be disqualified.
 Each Bybit account can only participate in one competition within the same time frame.
 Bybit reserves the right of final interpretation of the terms and conditions. If you have any questions, please contact our customer service.

Ring of Teal

Chapter Four: Falls of Rauros

Beyond the confines of Moria stand twin colossal statues. These effigies, carved from precious stone, are known throughout Middle Earth as the Falls of Rauros.

Beyond these falls begins the truest test of your writs. Stay vigilant at all times and do not let the seduction of gold corrupt your path. Many have ventured beyond this sacred place only to never return.
Do pace yourself dear travelers.
You have only seventeen (17) days to navigate the treacherous labyrinth of market forces to reach the mountaintop.

Competition Dates

Registration Period: From 9:00 (UTC) on March 11, 2022 to 9:00 (UTC) on March 27th, 2022
Competition Period: From 9:00 (UTC) on March 12, 2022 to 9:00 (UTC) on March 28th, 2022

Chapter Five: Mount Doom

Mount Doom

Mount Doom marks the final destination for adventurers. The jagged steps are littered with the bones and blood of broken dreams. Only the strongest ten shall conquer the summit of such a perilous area.

If you defy the odds and find yourself amongst the survivors on the 28th day of March, you shall be rewarded with bountiful treasure. Good luck travelers & stay safe.