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more than 5000 awarded every month ..? actually 100% more..

HI ,
every day 10*10*11/2=550 usd are awarded, which makes the monthly total about 11000, so the context front page message should say ..
"Claim your prize The top 10 participants are awarded a cash prize daily. Over $10000 in prizes are awarded each month."

This was just a quick though to get falling asleep..
B

3 responses

Monthly total is roughly $6,050‬.

(50   +   45   +   40   +   35   +   30   +   25   +   20   +   15   +   10   +   5) = 275
275 * 22 = 6,050‬  

$275 is the sum of the daily awarded prizes. There are roughly 22 weekdays per month. So trading days is perhaps closer to 20 or 21, because of holidays.

If you want to use a formula:

s = n(n + 1) / 2 * 5  
n = 10

s = 10*(11) / 2 * 5  
s = 275  

Because the sequence is like (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10) * 5

So it's:

1 + 10 = 11  
2 + 9 = 11  
3 + 8 = 11  
4 + 7 = 11  
5 + 6 = 11  

So 11 * 10/2 = 55
and 55 * 5 = 275

HI
you are right, 10*11/2=55 was correct, but it should be multiplied by 5 not 10(not a good idea to post late art night before going to sleep ..). As for the average number of trading days in a month I think it should be on average 252/12~21. So the daily cash award is on average 5775..
The cash award is rather low percentage of Quantopian budget I suppose