Deribit and Signalplus launched a 600,000 USDC trading competition called 'The Island' running from July 6 at 08:00 UTC to August 10 at 23:59 UTC, 2026. Coinbase, which acquired Deribit for 2.9 billion dollars in August 2025, backs the five-week contest that offers a private island as the headline prize alongside Nvidia stock, Rolex watches, and other rewards tied to volume and referral thresholds. The competition targets active options traders through Deribit's derivatives platform, with the prize pool expanding from a 400,000 USDC base to 600,000 USDC once global valid trading volume reaches 25 billion dollars.
Prize Pool Expands with Trading Volume Milestones
The base prize pool starts at 400,000 USDC. The pool expands to 500,000 USDC once global valid trading volume hits 15 billion dollars, and reaches 600,000 USDC at 25 billion dollars in volume. Higher volume could extend the contest by one to two weeks beyond the August 10 deadline. Options trades count double the weight of futures trades in volume calculations. Traders using contracts that expire in seven days or less unlock additional multipliers through Deribit's Island Amplifier mechanic.
Private Island Leads Multi-Tier Reward Structure
The headline prize is a private island or its cash equivalent. Deribit and Signalplus listed Rolex watches, trips to Bali and Turkey, Apple Vision Pro headsets, Nvidia stock, and Hermès accessories as rewards tied to specific volume, referral, and deposit thresholds. Daily and weekly USDC payouts run alongside the larger prizes. One qualifying trade earns a trader a share of a 100 USDC daily pool. Referral rewards include Nvidia stock at 1,500 qualified signups and a Rolex GMT-Master II at 3,000 signups.
Competition Spans 11 Separate Trading Arenas
The competition splits into more than 11 separate arenas. Traders compete on weekly volume, weekly profit and loss, team volume, referrals, deposits held for seven days or more, and block trades placed through Deribit's institutional desk. Block trading requires a minimum 200,000 USDC deposit. Traders who hit that threshold gain access to fee rebates of 30 percent to 50 percent on qualifying trades, plus eligibility for a dedicated block trade prize.
Registration Requires Funded Deribit Account and API Key
Participants need a funded Deribit account with an active API key, then a linked Signalplus account to register for individual or team leaderboards. Deribit recommends completing KYC verification before the contest starts, since account matching and reward distribution depend on it. Traders who register before July 7 qualify for early bonuses, including three free options contracts and entry into a volume sprint that rewards the first accounts to reach 200 million dollars in volume by July 12. Rewards are paid within 15 working days of the final results, either as the listed prize or a capped USDC equivalent.
Coinbase Leverages Deribit Acquisition for Derivatives Growth
Coinbase completed its acquisition of Deribit in August 2025 for roughly 2.9 billion dollars. Deribit and Signalplus have not published live leaderboards. Standings update only at set intervals through August 10.
FAQ
What is the prize pool for Deribit's 'The Island' trading contest?
The base prize pool starts at 400,000 USDC and expands to 600,000 USDC once global valid trading volume reaches 25 billion dollars. The headline prize is a private island or its cash equivalent, with additional rewards including Nvidia stock, Rolex watches, and Apple Vision Pro headsets tied to volume and referral milestones.
How did Coinbase acquire Deribit and when did the acquisition complete?
Coinbase completed its acquisition of Deribit in August 2025 for roughly 2.9 billion dollars. The acquisition positioned Coinbase to leverage Deribit's derivatives platform to attract active options traders, particularly those trading short-dated bitcoin and ethereum contracts.
