Mobile Launch Trading Competition
0xC065
August 9th, 2022

Kwenta is excited to have launched our Mobile trading interface. In celebration, Kwenta will be hosting an all-out Futures trading competition with prizes for traders large and small. Perpetual Futures trading on Kwenta has seen many improvements and has, since our last competition, had the experience heavily refined. Mobile trading is encouraged, but desktop traders are welcome too! Addresses that place a trade during the competition dates will be automatically entered.

Futures on Kwenta are unique in that they are built entirely using decentralized technology with the Synthetix protocol. Traders benefit from the deepest liquidity available on any available assets, a completely permissionless product, and Futures for a growing variety of assets in and outside the cryptocurrency ecosystem.

Participants will be eligible to win part of 20,000 $OP tokens & CryptoTesters NFT prizes. The competition will be hosted on Optimism, a Layer 2 solution. Traders will need to use only Perpetual Futures positions to generate as much profit as possible and reach the top of the Kwenta leaderboard.

When Is The Competition?

The competition will run for one week from Tuesday, August 16th at 00:00 UTC to August 23rd at 00:00 UTC.

Competition Rules & How To Win:

Traders will be placed by notional volume tiers in USD terms at the end of the week's trading period. Traders will be able to monitor their position in the competition on a shared leaderboard & will need to generate the most amount of PnL using Kwenta Futures, working their way as high up the leader as possible within a notional volume tier. (Notional value = position size * underlying price)

To get a normalized PnL percentage, Kwenta will use the following formula to calculate a traders PnL during the competition. percent pnl = (dollar pnl / max(500, total initial margin + total margin deposits). *Note the leaderboard will only update every three hours.

Which Trading League am I in, and how do I move up?

Traders are placed in either Bronze, Silver, or Gold league based on the volume they generate during the competition. See your current league on the dashboard, and select the leaderboard tab for your league to see your place.

To move up and become eligible for larger prizes, place more trades or larger trades to meet the next volume threshold. You’ll be automatically moved up during the next leaderboard update.

Can I join the Mobile Competition on desktop?

Desktop traders are welcome to participate! Although we encourage our users to check out the sleek new mobile designs. Place a trade from your wallet using any device, and you’ll automatically join the competition.

Can I deposit/withdraw from my account during the Competition?

Yes, all traders participating in the competition have the full functionality of a regular trader on Kwenta. Please note that depositing to your account will affect your percentage P&L.

Total trading competition rewards among all tiers:

  • 20k OP
  • 6 Cryptotesters

Notional Volume tiers are as follows:

Gold League: Top 10 Traders with Notional Volume $250k and Over:

  1. 7k $OP
  2. 5k $OP
  3. 3k $OP
  4. 1k $OP + Cryptotesters NFT
  5. Cryptotesters NFT

Silver League: Top 10 Traders with Notional Volume $50k and Over:

  1. 1k $OP
  2. 750 $OP
  3. 500 $OP
  4. 250 $OP + Cryptotesters NFT
  5. Cryptotesters NFT

Bronze League: Top 10 Traders with Notional Volume Under $50k:

  1. 250 $OP
  2. 150 $OP
  3. 100 $OP
  4. Cryptotesters NFT
  5. Cryptotesters NFT

How will winners receive their prizes?

The winners will receive their prizes in the week following the conclusion of the trading competition. Winners will have their prizes sent to the same address used during the competition.

Bounties:

The awarding of competition prizes will be at the discretion of the Kwenta Core Contributors, expressly to exclude any traders who exploit a bug to increase their wallet balance. Anyone who discovers a bug relating to the Synthetix contracts during the competition will be eligible for a bug bounty if they report it responsibly. To submit a bug, visit the Kwenta Discord and tag a core contributor.

Get Started:

This competition will be open to anyone, albeit being duped as a mobile competition, desktop traders will still be able to participate. There will be no need to register; anyone that trades on Kwenta during the time the competition is live will automatically be entered into the competition and eligible to receive any of the above prizes. To begin trading on Kwenta and start trading simply deposit sUSD into any available market and start generating volume along with PnL; we wish you the best of luck!

The KwentaDAO reserves the right to amend the terms of this campaign without prior notice.

Join the Kwenta Community & Provide Feedback

If you haven't already, join the Kwenta community on Discord.

To be the first to learn about new updates to Kwenta, follow us on Twitter.

Start trading by visiting Kwenta.

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