Nikolas Sargeant
Major cryptocurrency exchange Phemex has announced its collaboration with PMG, marking the occasion with a giveaway event. Enthusiasts and investors alike are invited to participate in two events that promise a chance to win a total of 100,000 PMG.
PMG is a cryptocurrency that enhances payment functionalities, offering a smoother and more stable experience. This is achieved by ensuring robust connectivity and integration with established payment systems associated with VISA and MASTER cards.
Phemex was founded in 2019 and is headquartered in Singapore. It is known for providing a range of cryptocurrency trading services, including spot trading and derivatives trading. Read more about the coin offerings and services in our full Phemex review.
Event 1: Hold PMG to Share 30,000 PMG
Running from December 20th, 00:00 UTC, to January 1st, 23:59 UTC, the first event encourages participants to simply hold a minimum of 1,000 PMG through deposit or purchase. Eligible participants will automatically be entered into the event, with a snapshot taken on January 2nd at 00:00 UTC to confirm the PMG holdings.
Event 2: Achieve Benchmark for a Share of the 70,000 PMG Prize Pool
The second event, also running from December 20th, 00:00 UTC, to January 1st, 23:59 UTC, introduces a raffle with a generous 70,000 PMG prize pool. To participate, users are required to hold a minimum of 1,000 PMG through deposit or purchase. Each 1,000 PMG-held grants one entry into the raffle, providing participants with an opportunity to increase their chances based on their holdings. The snapshot for this event will be taken on January 2nd at 00:00 UTC.
The calculation for the raffle weight is as follows: Your PMG Allocation = (Your Holdings / Total Weight of All User Holdings) * 70,000 PMG. It's important to note that holdings will be rounded down to the nearest thousand, ensuring a fair distribution of weights among participants.
For example, if a participant holds 10,000 PMG, they will receive ten times the weight in the division of the total prize pool. In cases where holdings are not in exact thousands, the allocation is determined by rounding down to the nearest thousand.
