MERL is now available to trade on WOOFi Pro, and we’ve worked our magic to bring you an epic 30,000 MERL prize pool in partnership with Merlin Chain! Here’s everything you need to know to dominate the competition.
Timeline
The competition is split into two weeks:
Week one (April 23rd, 13:00 UTC - April 30th, 12:59 UTC)
Week two (April 30th, 13:00 UTC - May 7th, 13:00 UTC)
How to win
Trade MERL on WOOFi Pro to earn a pro-rata share of 15,000 MERL each week for two weeks. The higher your MERL volume, the higher your share of the weekly prize pool. At the end of each week, a list of eligible addresses and their winnings will be posted on WOOFi’s Twitter.
How to get the edge
WOOFi stakers benefit from a multiplier effect on any volume they move. The size of a user’s multiplier will be determined by their staking tier on the final day of each week, with higher tiers accessing higher multipliers, up to a maximum of 2x.
Example: Bill is a tier 10 staker who trades $10m volume of MERL in week one. Bill therefore gets a 2x multiplier meaning his volume is counted as $20m.
It should also be noted that WOOFi stakers receive permanently discounted trading fees - not just in competitions. To learn more about WOOFi Stake and its benefits which include 80% revenue share, fee discounts, and USDC rewards - check out our GitBook!
Reward distribution
MERL will be airdropped into the wallets of all eligible addresses after the competition’s end. Please note: only wallets that qualify for more than 1 MERL will be eligible for rewards.
About Merlin Chain
Merlin Chain is a native Bitcoin Layer2 that is committed to empowering Bitcoin's native assets, protocols, and products on Layer1 through its Layer2 network to Make Bitcoin Fun Again. Merlin Chain integrates the ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules.
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The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.
The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on WOOFi’s official website shall prevail. WOOFi reserves the right to the final interpretation and changes to the conditions and rules of this event.