Trading Challenges
The Botmain DAO offers 2 "Trading Challenges", each using a unique evaluation process. These challenges are designed to identify the most skilled traders and developers, offering them a path to professional growth and financial reward.
Paper Trading Tournament
This is a tournament-style trading challenge using paper-trading accounts in a competitive setting. There are different entry fees of $150, $300, or $500 per challenge and all the money goes to the prize pool. Once the prize pool has the minimum number of participants with no new participants joininig in the last 2 hours, then the challenge begins and runs for 1 month. When it's over, the top 5 traders that pass the predefined risk criteria will be paid out a minimum of 10x the entry fee. The Botmain Treasury will receive the remainder of 5x the entry fee. If there are less than 5 traders that pass the criteria, their share gets split between the remaining traders that passed and the Treasury.
For example, for challenges having a $300 entry fee, the challenge will kick off once the pool has $16,500 or more and run for 1 month. At the end, the top 5 traders who pass the criteria will receive $3,000 each and the remainder $1,500 will go to the Botmain Treasury. If there are only 3 traders that pass the trading objectives, then an additional $6,000 will be split between the 3 traders and the Treasury (an additional $1,500 each).
Botmain Challenge Paper Trading Tournament | |||||
|---|---|---|---|---|---|
| Entry Fee | $150 | $300 | $500 | ||
| Minimum Participants | 55 | 40 | 32 | ||
| Max Finalists | 10 | 6 | 4 | ||
| Prize Pool | $8,250+ | $12,000+ | $16,000+ | ||
| Minimum Prize (Per Finalist) | $750+ | $1,800+ | $3,625+ | ||
| Payout Multiplier (Finalists) | 500%+ | 600%+ | 725%+ | ||
| Administration Fee This amount from the prize pool goes to the Botmain DAO Treasury. | $750 | $1,200 | $1,500 | ||
| Paper Account Size The provided tournament account does not use real money and is for evaluation purposes only. | $15,000 | $30,000 | $50,000 | ||
| Tournament Duration A Botmain tournament has a duration of 30 days. You must achieve the trading objectives within that time, including a minimum of 10 trading days. | 30 days | 30 days | 30 days | ||
| Minimum Trading Days To meet this objective, you must open at least one position for each of the 10 required trading days. A trading day is defined as a day when at least one trade is executed. If a trade is held over multiple days, only the day when the trade is executed is considered to be the trading day. | 10 days | 10 days | 10 days | ||
| Maximum Daily Loss The meet this objective, the sum of all closed position P/Ls for the day plus the sum of all currently open position P/Ls for the day, must not hit the determined daily loss limit at any time during the day. For example, in the case of a challenge with an initial balance of $100,000, the Maximum Daily Loss limit is $5,000. If you hold a loss of $4,000 in your closed trades for the day, that means your account must not decline more than an additional $1,000 at any point during that day, including your open floating losses. This limit is inclusive of all trading commissions (and owed interest, in the case of margin trading). On the other hand, if you are in profit for $4,000 in your closed trades, that means you can afford to lose a maximum of $9,000 before breaching your Maximum Daily Loss limit of $5,000. If at any point in that day your loss exceeds $9,000, you will breach the limit, even if you ultimately close those open trades in profit. Be careful as the maximum daily limits are reset at exactly midnight Central European Summer Time (CEST)! This can lead to unexpected violations of the limit. For example, let’s say you are in profit for $4,000 for a particular day. On the same day, you have an open position with a current floating loss of $8,000. On this day, the Maximum Daily Loss is not violated (+$4,000 - $8,000 = -$4,000). However, if you hold this position with an open loss of $8,000 after midnight, the daily loss limit will be violated. This is because the previous day profit of $4,000 doesn’t count to buffer your open loss of $8,000 in the new day. | $750 | $1,500 | $2,500 | ||
| Maximum Total Loss To meet this objective, the equity of the trading account must not, at any moment during the account duration, decline below 90% of the initial account balance (80% in the case of the Aggressive version of the challenge). Once again, this is the sum of both, closed and open positions, and the calculation is using account equity, not balance (in the case of margin trading). This limit is inclusive of all commissions (and owed interest, in the case of margin trading). | $1,500 | $3,000 | $5,000 | ||
| Profit Target To meet this objective, the trader must reach the profit target in the sum of all closed positions anytime within 30 calendar days for Step 1 of the challenge or anytime within 60 days for Step 2 of the challenge. All positions must be closed at the end of reach respective trading period. The profit target amount is set to 10% of the initial balance for Step 1 of the challenge (20% for the Aggressive version) and 5% of the initial balance for Step 2 of the challenge (10% for the Aggressive version). | $1,500 | $3,000 | $5,000 | ||
Real Money Funding
Traders that pass the Paper Trading Tournament will receive a badge and become eligible to take the challenge under more rigorous risk rules and on an individual-basis for 3 months. Passing this challenge will get you a real-money trading account funded by the Botmain Treasury. You become a Botmain Certified Asset Manager. Trade our money, keep 70% of the profits.
- Funded Trading Account: Receive up to $100,000 in capital from the DAO to trade with.
- Profit Sharing: Keep a substantial 70% of the profits you generate.
- Loss Coverage: The DAO handles losses from trading. Keep in mind a robust set of our own risk controls will be applied to your account via
Risk Rules to reduce your account risk. - Free Platform Access: Utilize the powerful Botmain Platform to build and automate your strategies at no cost.
| Step 1 Initial Screen | Step 2 Verification | Step 3 Fund Manager | |
|---|---|---|---|
| Trading Period The Initial Screening step of the Botmain Trading Challenge has a maximum duration of 30 days. You must achieve the trading objectives within that time, including a minimum of 10 trading days. If you manage to pass the trading objectives sooner, for example in 11 days, you do not need to wait for the remaining duration days to move to the next step in the challenge. | 30 days | 60 days | Indefinite |
| Minimum Trading Days To meet this objective, you must open at least one position for each of the 10 required trading days. A trading day is defined as a day when at least one trade is executed. If a trade is held over multiple days, only the day when the trade is executed is considered to be the trading day. | 10 days | 10 days | x |
| Maximum Daily Loss The meet this objective, the sum of all closed position P/Ls for the day plus the sum of all currently open position P/Ls for the day, must not hit the determined daily loss limit at any time during the day. For example, in the case of a challenge with an initial balance of $100,000, the Maximum Daily Loss limit is $5,000. If you hold a loss of $4,000 in your closed trades for the day, that means your account must not decline more than an additional $1,000 at any point during that day, including your open floating losses. This limit is inclusive of all trading commissions (and owed interest, in the case of margin trading). On the other hand, if you are in profit for $4,000 in your closed trades, that means you can afford to lose a maximum of $9,000 before breaching your Maximum Daily Loss limit of $5,000. If at any point in that day your loss exceeds $9,000, you will breach the limit, even if you ultimately close those open trades in profit. Be careful as the maximum daily limits are reset at exactly midnight Central European Summer Time (CEST)! This can lead to unexpected violations of the limit. For example, let’s say you are in profit for $4,000 for a particular day. On the same day, you have an open position with a current floating loss of $8,000. On this day, the Maximum Daily Loss is not violated (+$4,000 - $8,000 = -$4,000). However, if you hold this position with an open loss of $8,000 after midnight, the daily loss limit will be violated. This is because the previous day profit of $4,000 doesn’t count to buffer your open loss of $8,000 in the new day. | $500 | $500 | $500 |
| Maximum Total Loss To meet this objective, the equity of the trading account must not, at any moment during the account duration, decline below 90% of the initial account balance (80% in the case of the Aggressive version of the challenge). Once again, this is the sum of both, closed and open positions, and the calculation is using account equity, not balance (in the case of margin trading). This limit is inclusive of all commissions (and owed interest, in the case of margin trading). | $1,000 | $1,000 | $1,000 |
| Profit Target To meet this objective, the trader must reach the profit target in the sum of all closed positions anytime within 30 calendar days for Step 1 of the challenge or anytime within 60 days for Step 2 of the challenge. All positions must be closed at the end of reach respective trading period. The profit target amount is set to 10% of the initial balance for Step 1 of the challenge (20% for the Aggressive version) and 5% of the initial balance for Step 2 of the challenge (10% for the Aggressive version). | $1,000 | $500 | x |
| Refundable Fee The fee is reimbursed to you with the first Profit Split when you become a Botmain Certified Fund Manager. | $150 | Free | Refund |
Challenge Manager
Botmain Challenges are administered directly through the Botmain desktop platform. Potential participants can register for a challenge by paying the entry fee through the platform. For Tournament-style challenges, portfolio analytics for each participant are made public on the leaderboards, excluding the trade entry & exits. Real-Money Challenges, on the other hand, are a 1-on-1 evaluation of the trader, by Botmain, and all data is kept private.
Become Part of the Future of Trading:
The Botmain DAO fosters a collaborative environment where traders can learn from each other and contribute to the collective success of the organization. By combining your skills with the DAO's resources and the Botmain Platform's automation capabilities, you can unlock a world of opportunity in the dynamic world of algorithmic trading.