Leech Protocol Announces Yield Farming Competition with $3000 Prize for Top Farmers

6 min readFeb 21, 2023

Yield Farming Competition | Leech Protocol

Leech Protocol is an Automated Cross-Chain Yield Aggregator. We are in the final stages of development and will soon open the platform for use.

To ensure nobody gets bored, we decided to make a farming competition to see who is the strongest yield farmer in our community and who can farm on stablecoins and share the $3000 prize pool. Not bad, right? You will farm, and we’ll increase your final APR 😃

Meet the contest for all Degen / DeFi users who want to show their skills in finding and implementing yield farm strategies on Stable Coins inside EVM Chains!

We know your ability to farm with a high APR on shitcoins. Can you replicate this success with stablecoins? Can you achieve a minimum return of 1% on your deposit within a week? Can you do better? We will significantly increase the APR for the top performers!

We want to see what you can do and what strategies you use. The most successful participants will be invited to become our ambassadors and advisors.

Your objective is to maximize your earnings through Stable Farming, which rewards you for providing liquidity in stablecoins.

To be eligible for the prizes, you should use the following protocols:

Farming / Liquidity mining. For example Pancake, Biswap, Thena, Camelot, Uniswap, Trader Joe, Sushiswap, etc
Credit protocols. For example Aave, Compound, Venus, Cream Finance, etc
Leverage Farming. For example Tarot, Homora v2, Alpaca Finance, etc
Yield Aggregators/Optimizers. For example Beefy, ACryptoS, Alpaca Finance, etc
Stable Vaults. For example Ribbon, Buffer, Cap Finance, Vela, Opyn, etc

Allowed:

Use only EVM networks >$50 million TVL;
Use any stable tokens with a $3M cap or higher;
Use decentralized bridges to transfer from network to network (e.g., core.allbridge.io )
Use any Farming, Vaults, Staking, Pools (anything with APR)
You can deposit unlimited GAS tokens from CEXs

Prohibited:

Organizers and team members are not allowed to take part in the Yield Farm Contest;
Use non-EVM blockchains;
EVM chains with <$50 million TVL;
Use liquidity pools with <$100K TVL;
Use stables (haha) that are unpegged more than 5% and capitalization of <$3 million (as on 26 Feb 2023 00:00 (UTC));
Deposit funds to the wallet throughout the contest (excluding gas tokens and $500 to participate);

Do not try to cheat😀 We know you can. This is a farming competition. Not allowed:

Interaction with NFT (excluding Uniswap v3 positions);
Using all kinds of Flashloans;
Profit from liquidations;
Receive airdrops and retro-drops;
Use arbitrage and MEV bots;
Token Arbitrage;
Engage in trading (this is a competition about farming, not trading);
Use CEX for transfers from network to network;
Trading on Options or Perpetual Futures protocols;
Play casinos and other gambling games to increase the yield;
Use projects that appeared after the contest announcement date;
Use tokens created after the contest announcement date;
Use of any Farming as a Service.
Swap your gas tokens. You will use them only to pay for gas and commissions.

How to join?

Participation in the contest is free of charge.

To participate, you need a new address, no positions in DeFi, and no transactions (except making the first deposit of gas tokens). Wallet balance should be 500 USDT / USDC / DAI total and gas tokens.

☝️ To join the Contest, You must fill out a Gleam form.

⚠️ Important notice regarding your wallet!

The wallet you use for the contest is yours.
To participate in the contest, you will need to provide ONLY your wallet’s ADDRESS;
To participate in the contest, you DO NOT need to provide private keys or a seed-phrase for your wallet;
You DO NOT need to pay anyone the fee to participate in the contest
The contest is completely free of charge;
The contest organizers will NEVER ask you to pay/transfer money.
The only way to join the contest is via this Gleam form (some partners will create separate forms), in case of any doubts, join our socials to double-check it!

How to win / How will we calculate results

To be eligible for evaluation on the final day of the contest (23 Mar 2023 00:00 UTC), all DeFi positions must be closed, and the deposit must be returned in USDT, USDC and DAI. Only these stablecoins will be considered.

Once the contest concludes, participants will be required to complete a form (to be sent):

specify the final amount
describe your farming strategy
confirm that you followed the rules and did not cheat
any violation of the rules = disqualification

The contest will be held from 26 Feb 2023 00:00 (UTC) to 23 Mar 2023 00:00 (UTC). You can submit the Gleam with your wallet anywhere between 26 Feb and 23 Mar, still we encourage you to submit the wallet ASAP to track the first date of wallet in the competition.

Prizes

The prize will be awarded to the top 3 participants with the highest deposit growth percentage, measured in USD.

1st place — $1,500 (total APR with prize ~3776% 🥳, not bad?)

2nd place — $1000 (total APR with prize ~2600% 👍)

3rd place — $500 (total APR with prize ~1260% 💵)

Our special Bridge partner, Allbridge Core, is offering a special prize of $250 USD to the user with the highest volume of usage on the Allbridge Core platform.

The Leech Protocol team chooses the winner according to the rules.

Join our Telegram or Discord to answer all your questions!

Partners

Bridge Partner — Allbridge Core. Allbridge Core enables the transfer of value between blockchains by offering cross-chain swaps of native stablecoins. Being messaging protocol agnostic, Allbridge Core connects a variety of EVM and non-EVM networks.

Media partners

DOUBLE TOP — №1 Ukrainian community of speculators, investors, enthusiasts, and technically savvy participants of the crypto space.

Degen Hustle — channel for degens, farming, DeFi, dApps fans. Good content about crypto!

Moni Talks — Crypto media in simple language with memes. Check the YouTube channel!

CryptoSale — Crypto community. IDO, NFT, Metaworld and Token sale, crypto without risks and with risks.

Disclaimer

All cryptocurrency transactions, especially those in yield farming, including the announced Contest, involve multiple risks, including the risk of losing all or part of the funds used. You understand and agree to participate in our Yield Farm Contest («Contest») at your own risk. Therefore, you should carefully consider whether such participation suits you in light of your circumstances, experience, and financial resources. You should be aware that you may sustain a total loss of the deposit you use for the Contest if you do not strictly follow the rules. You understand and assume this risk associated with your participation in the Contest in full.

IN ANY CASE, WE DO NOT BEAR ANY LIABILITY FOR ANY OF YOUR ERRORS, OMISSIONS OR MISTAKES, ACTIONS, OR INACTIONS OR FOR ANY OTHER CIRCUMSTANCE THAT OCCURRED IN THE PERIOD OF YOUR PARTICIPATION IN THE CONTEST THAT LED TO THE FULL OR PARTIAL LOSS OF YOUR DEPOSIT.

Join the Yield Farm Contest here https://gleam.io/competitions/mEEP2-farming-contest-form-double-top