With the Kwenta mobile launch trade competition completed, we want to express sincere gratitude to the community, and all that participated. We would also like to extend a huge thanks to Kwenta Core Contributors that worked tirelessly to ensure the competition went smoothly. Let’s check out some details of what happened during the competition in the markets, the activity on Kwenta, and present the final winners and prizes!

Kwenta disqualified two addresses from the competition for not trading through the Kwenta Frontend. While these futures markets can be interacted with directly on a contract level, this was a Kwenta sponsored event and only traders trading through Kwenta should be eligible for prizes. Addresses 0xccb...f6492 & 0x34a...2370c were thus removed from the competition leaderboard.

Even if your wallet address was not in the top 5 of the leaderboard in the UI when the competition ended, please double check for your address here, or check you wallet. You may still receive a prize!

During the competition, traders placed over 1,112 trades, generating $113,277,004.26 in volume! Due to high volatility during the competition, Kwenta saw an all time high level of liquidations with 103 wallets being liquidated for $10,492,704 sUSD on August 17th alone! That’s a lot of damage!

High volatility, however, can be a boon for traders as well. The top Gold League trader rode this trend to a 525.05% gain during the competition, securing a massive win in our highest prize tier.

If you missed this competition, don’t worry. The next few months at Kwenta will be action packed, and full of new feature releases, new asset listings, more competitions, prizes, and incentives! Keep an eye on our Discord announcements channel and our Twitter so you don’t miss a beat.

Winners

We'd like to congratulate the top trader in each volume tier. The winners are as follows:

Bronze

1. 0x450...6d940 - $4062.87 (310.47%) Total Trades: 1

2. bluest-chips.eth - $2340.49 (122.34%) Total Trades: 1

3. 0xfc3...2d482 - $837.92 (92.07%) Total Trades: 4

4. 0x669...e2353 / 0xAD0...a48dA*

5. 0x33c...5d553 / 0x929...988E7*

Silver

1. 0x62c...3836e - $27,157.09 (187.25%) Total Trades: 1

2. 210.eth - $689.48 (137.90%) Total Trades: 82

3. 0x19b...b7521 - $396.83 (79.37%) Total Trades: 19

4. 0x4b4...c1ff7 - $5,031.30 (40.27%) Total Trades: 3

5. 0xbdf...f5c50 - $14,299.73 (28.74%) Total Trades: 1

Gold

1. 0x4ff...a03e7 - 2,625.25 (525.05%) Total Trades: 15

2. kulgan.eth - $12,957.18 (104.42%) Total Trades: 9

3. 0x283...dd7ec - $36,892.82 (67.10%) Total Trades: 5

4. 0x791...5ebb5 - $34,713.56 (54.29%) Total Trades: 27

5. 0x8d8...1aafb - $2,306.14(48.99%) Total Trades: 5

Prizes

Gold League: Top 5 Traders with Notional Volume $250k and Over:

• 1st place: 7k $OP

• 2nd place: 5k $OP

• 3rd place: 3k $OP

• 4th place: 1k $OP + Cryptotesters NFT

• 5th place: Cryptotesters NFT

Silver League: Top 5 Traders with Notional Volume $50k and Over:

• 1st place: 1k $OP

• 2nd place: 750 $OP

• 3rd place: 500 $OP

• 4th place: 250 $OP + Cryptotesters NFT

• 5th place: Cryptotesters NFT

Bronze League: Top 5 Traders with Notional Volume under $50k :

• 1st place: 250 $OP

• 2nd place: 150 $OP

• 3rd place: 100 $OP

• 4th place: Cryptotesters NFT

• 5th place: Cryptotesters NFT

*Due to a small error in the PNL calculation which used margin in a traders account + deposits as the denominator for a percentage based PNL. We mistakenly also include unrealized PNL and funding from the start in a traders dollar denominated PNL. Rectifying this issue caused a slight shift on the bronze leaderboard. Kwenta will still issue prizes to the two traders that got shuffled out of the leaderboard because of this. Address 0xAD0...a48dA will also receive a 3rd place prize and 0x929...988E7 will additionally receive a 5th place prize.

Bonus Prize

As an easter egg prize we will also send 900 $OP tokens to the trader with the single largest liquidation during the competition. RIP young Padawan, you’ve put up a good fight. Unfortunately the force was too strong.

While we wish all traders good luck, and encourage proper risk management techniques, at times we can only look in awe at the drama and excitement of the markets. This prize will be distributed to 0x228…22b13.

How will winners receive their prizes?

The winners will receive their prizes within the week following this recap. Winners will have their prizes sent to the same address used during the competition.

There will be no need to claim your prizes, so do not respond to any messages instructing you to send a transaction or personal information to claim your prizes. Simply sit back and watch your wallet.

Conclusion

This was a fantastic experience for the Kwenta community and we appreciate everyone who joined the community in the process. We hope everyone enjoys their NFTs and prizes. Keep an eye out for the next competition, coming soon!

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