Deribit announces upcoming daily reset for reward multipliers in 'The Island' trading competition

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Emilio Ghigini

23.07.2026

Deribit announces upcoming daily reset for reward multipliers in 'The Island' trading competition — Deribit updates 'The Island' multiplier rules

Deribit announced that the daily multiplier for its Daily Tide and Crew Tide lotteries, which is determined by short-dated options trades made within two hours before the daily reset, will soon reset as part of its ongoing 'The Island' trading competition.

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Deribit has detailed the daily reward multiplier mechanism for its 'The Island' trading competition, affecting both the Daily Tide and Crew Tide lotteries. The announcement clarifies that traders can increase their multiplier—and consequently their lottery rewards—by executing short-dated options trades (contracts expiring in seven days or less) during the two hours before the daily reset at 08:00 UTC.

The multiplier tiers are based on trading activity in this window: one qualifying trade yields a 1.1× multiplier, reaching up to 2× for at least $1 million in traded volume. Multipliers reset each day, and the system forms part of a campaign running from July 6 to August 10, 2026, with a total prize pool of up to 600,000 USDC.

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How to participate

To join Deribit’s daily multiplier campaign, first register for 'The Island' trading competition using the official sign-up link. Each day, make at least one short-dated options trade (expiry of 7 days or less) in the two hours before the daily reset at 08:00 UTC to qualify for a multiplier. Your trading volume during this window determines your multiplier tier, which applies to daily lotteries. The multiplier and opportunities reset daily within the competition period.

Deribit is a cryptocurrency exchange established in 2016, specializing in futures and options trading on assets such as BTC, ETH, USDC, SOL, XRP, LUNA, and AVAX. The platform features the TradingView browser terminal with integrated analysis tools, supports leveraged trading up to 50x, and provides fixed, below-average commissions. For further details, see the broker profile on Traders Union.

For more context, Deribit recently enhanced its Options workspace on BasedMoney, introducing advanced analytics and real-time statistics for BTC, ETH, and SOL options. Details can be found in the previous Deribit update on Traders Union.

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