Deribit, through its broker-dealer DRB Panama Inc., and SignalPlus, a prominent provider of infrastructure solutions for crypto derivatives, have officially launched The Island. This is their fifth and largest trading competition ever.

Spanning a period of 35 days, participants in this competition can compete for a staggering $600,000 USDC in prizes, available through both individual and team competitions. The event will include daily and weekly reward rounds, unique Mystery Box deposit features, short-dated options challenges, and a chance to win the Private Island jackpot.

Competition Timeline and Participation

Registration for The Island will open on June 29 at 08:00 UTC. The competition itself kicks off on July 6 at 08:00 UTC and runs through August 10 at 23:59 UTC. To take part, users need to engage in trading through SignalPlus on Deribit. The standings in this contest will be determined based on the trading volume of eligible options and futures, with options given a weight of 1.0 and futures a weight of 0.5.

New Features and Winning Opportunities

This competition introduces an exciting array of mechanics that include:

  • A weekly profit and loss leaderboard
  • Short-dated options reward multipliers
  • The Flash Arena, where larger volumes of short-dated options yield more chances for jackpotted rewards

The campaign encompasses eleven primary arenas focused on weekly volume competition, daily rewards, team efforts, and block-trade incentives. Luuk Strijers, Senior Director at Deribit, shared, “The Island embodies our vision for a competition that is larger in scale, fosters stronger participation, and properly rewards active options traders.”

Incentives for Early Registration

Participants who register by July 7 will benefit from special early bird incentives, including:

  • Three complimentary Deribit options
  • A chance for team captains who invite five or more friends to register to win a Cressi Velvet Wetsuit worth 300 USDC
  • Among the first ten participants to reach 200M in trading volume by July 12, a randomly selected individual will receive two RIMOWA suitcases valued at a total of 5,000 USDC

It’s worth noting that this campaign, operated by DRB Panama Inc, is not aimed at residents of Dubai, UAE. Participation comes with risks, as virtual assets can be subject to significant market volatility.