Bots League terms and conditions

Terms and conditions BOTS League 2

1. These terms and conditions (“Rules”) apply to the BOTS League 2 Competition (the “Competition”). Registration for this Competition and/or entry in the Competition constitutes your agreement to these Rules and you will not be eligible for the prize unless you agree to these Rules.

2. The Competition is organized and ‘hosted’ by CMS Beheer B.V., a company organized under the laws of the Netherlands, having its registered office and principal place of business at Gedempte Oude Gracht 45-47, Haarlem, The Netherlands, registered with the Dutch Chamber of Commerce under number 71014918 (“BOTS”).

3. The Competition starts on the 13th of August 2021, 4:30 PM CET (during a live broadcast) and ends on the 19th of November, 4:30 PM CET (during a live broadcast).

4. Once you register for the Competition, and only after your trading strategy (bot) is found to be compatible with the BOTS Platform, a dedicated account will be created on the BOTS App, to be used for trading in the context of the Competition. The account will be set in EUR currency only and will dispose of a maximum of 5,000 EUR AUM (Assets Under Management).

Eligibility Criteria: 

5. Participants will need to register for this Competition before June 23rd, 2020, 4:30 PM CET.

6. Participants in the Competition acknowledge their obligation to cooperate with the KYC procedure of BOTS. In particular, each participant agrees to provide BOTS with the following required for the initial identification. BOTS shall contact the participant separately if further documents are required.

(for legal persons:)

a. Organization chart of the company going up all the way to the natural persons owners (UBO(s))

b. Chamber of Commerce extract

c. Passport copies of the UBO(s)

d. Filled-in Legal Person KYC Form

(for natural persons:)

a. Passport copies of the Participant

7. Only registered and verified participants can join. Each participant agrees to provide real data during registration. Providing fake data may result in disqualification from the Competition at any stage. 

8. Participants agree to develop the bots with due consideration and compliance to the BOTS Coin Rules Policy, the Bot Creator Onboarding Guide, and to any other applicable rules and regulations. The Participants will be provided with a copy of the BOTS Coin Rules Policy and the Bot Creator Onboarding Guide before their entry into the Competition. BOTS will share any updates of these rules and obligations.

9. Only persons of legal age (18 or older) can take part in the Competition.

10. Participants are obliged to ensure their compliance with any relevant rules and regulations, including the laws applicable to them in their country of residence. 

11. The right of participation is not transferable.

Competition Rules

12. Each bot put forward by a potential participant will first need to go through a Sandbox environment for 30 days. During this time, the bot will trade with fake money (“paper trading”). The bot will be evaluated, and its trading performance and practices will be compared against the provided tearsheet. BOTS reserves the right, in its sole judgment and discretion which will be final and binding, to reject or disqualify any participant for poor performance, or any discrepancies with the tearsheet during the Sandbox environment period.

13. Each Competition account shall have the same trading conditions: 

a. Initial deposit: EUR 5,000

b. Trading Instruments: Accounts are only allowed to trade in the following cryptocurrencies: BCH, BTC, ETH, DASH, BNB, ADA, EOS, DOT, XRP, ETC, UNI, LINK, LTC, XLM, ZEC, THETA, NEO, VET, TRX and DOGE.

14. Trading can be done 24/7. The percentage in profit equity is the leading indicator on the ranking. 

15. If a Participant’s trading performance decreases to below 60%, so a maximum drawdown of 40%, their trading strategy will be suspended and they will be disqualified.

16. New bot creators, which shall be defined as ‘all bot creators that do not have a bot on the Bots App that has reached a ‘Full’ Status yet’, will be allowed to participate in the Competition with a maximum of 3 bots. All other bot creators will be allowed to participate with only one bot in the Competition. 

17. A total of a 100 bots are admissible in the Competition. In the event that more than a 100 bots have been put forward by potential participants, the following selection criteria will apply:

a. The 70 bots with highest profit equity in the Sandbox environment will be allowed to participate in the competition.

b. From the remaining bots, the 30 bots with highest profit equity in the Sandbox environment made by new bot creators  will be allowed to participate in the competition.

18. BOTS reserves the right, in its sole judgment and discretion which will be final and binding, to reject or disqualify any participant who is breaching the Rules set herein and, in all cases, when BOTS has reasons to believe that the contestant is engaged in fraudulent or otherwise unfair trading methods/practices including but not limited to: 

a. A breach of the Coin Rules Policy and/or the applicable rules in the BOT Creator Onboarding Guide.

b. Any kind of IP match between two or more participants shall be grounds for disqualification. 

c. Any kind of arbitrage trading, and/or any other abuse with pricing and/or quotes will be subject to disqualification from the Competition.

d. Noncompliance with the bot description, and/or breach of the Strategy Integrity.

19. Participants must NOT infringe, misappropriate, or violate any rights of any third party including, without limitation, patent, copyright, including moral rights, trademark, trade secret, or right of privacy or publicity.

Prizer and Winner Determination

20. The participants with the highest percentage in profit equity who also adhere to all other conditions set herein shall be announced as winners.

21. The list of cash prize winners will be definitive within 1 working day following the end of the Competition.

22. All the current Competition statistics shall be available on the BOTS App. 

23. The applicable prices are as follows:

a.1st Place -  EUR 2500

b. 2nd Place -  EUR 1500

c. 3rd Place -  EUR 1000

d. 4th Place -  EUR 500

e. 5th Place -  EUR 450

f. 6th Place -  EUR 400

g. 7th Place -  EUR 350

h. 8th Place -  EUR 300

i. 9th Place -  EUR 250

j. 10th Place -  EUR 200

24. In case two or more Competition winners have equal highest % in profit equity at the end of the Competition, the respective prize will be received by each winner. 

25. Furthermore, the following additional prices will be applicable:

a. ‘most innovative bot’ - EUR 500

b. ‘most original bot description’ - EUR 500

c. ‘public price’  - EUR 500 

d. ‘most encouraging bots concept’ - EUR 500 

The Prize amounts will be transferred to the respective Participants’ bank accounts within 30 days of the announcement of the winners.

26. Furthermore, after the BOTS League Competition ends, Participants will be given the opportunity to register as Bot Creators at BOTS according to the regular requirements applicable for Bot Creators. If Participants pass these requirements successfully, their trading strategies created for the Competition will have their AUM increased. Such an increase will be subject to all the applicable entry requirements. In case all entry requirements for Bot Creators and for the bots (trading strategies) are complied with, BOTS has the intention (best effort) to provide the top three Participants (1st, 2nd and 3rd place winners) with the following AUM for their trading strategies:

a. 1st Place - EUR 250,000

b. 2nd Place - EUR 150,000

c. 3rd Place - EUR 100,000

27. BOTS reserves the right to declare any prize already given invalid and subject to cancellation upon direct or indirect evidence of attempted fraudulent operations with the prize funds.

28. Competition and prizes offered should not be considered as an incentive to trade. Only partake in the Competition when you feel you are ready to do so.

29. Participants shall not be obliged to share their trading strategy with BOTS. Each Participant agrees that some of their registration data (one or more of the following: names, foto and video footage, User ID, Twitter feed), as well as their trading activity within the Competition Account (information about the performance of their trading strategy) might be shared publicly (in the BOTS League environment, and on the internet, such as LinkedIn, Instagram, Facebook, Twitter, Twitch, Youtube; including on promotional material) during and after the Competition Period. Competitors agree to be interviewed during the BOTS League. No fee will be applicable for the use of this information. The purpose of the processing of participant data is promotional, and, in particular, to popularize the Competition and BOTS in general, as well as the Participants. Participants have the right to withdraw their consent for the processing of their data in accordance with their rights under the General Data Protection Regulation. Withdrawal of consent can be done by contacting BOTS by email (botcreators@revenyou.io) and arranging for an amendment of the present Agreement. Once such an amendment has been made, the data of the Participant in question will not be shared publicly as described above, even in case they are one of the winners. For more information regarding data privacy at BOTS please consult the BOTS Privacy Statement on the website of BOTS. 

30. If BOTS do not receive a sufficient number of Eligible Participants meeting the entry requirements, it may, at its discretion, select fewer winners than described above.

General Conditions 

31. BOTS reserves the right to withdraw or amend this competition in anyway, at the event of an error, technical problem or failure, computer virus, bugs, tampering, unauthorized intervention or any other cause beyond the reasonable control of BOTS that interferes with the proper conduct of this competition as contemplated by these Terms and Conditions.

32. BOTS reserves the right to cancel or suspend this competition, or to amend these rules at any time in any way without prior notice or obligation.

33. BOTS accepts no responsibility for loss, damage or claims caused by or resulting from the competition or acceptance of a prize. BOTS does not assume any responsibility for technical malfunctions, human or technical error, printing errors, lost, delayed or garbled data or transmissions, omission, interruption, deletion, defect or failures of any telephone or computer lines or networks, computer equipment, software or any combination thereof.

34. If there is any conflict or inconsistency between the English and the translated version of the Terms and Conditions, the English shall be the governing and prevailing version.