SolStreet.finance announces Money Never Sleeps, a 12-week series of trading competitions

Calling top managers and investors to pit their skills against the best in SolStreet protocol’s very first devnet investing competition, with approximately $600,000 in STRT tokens up for grabs for investors and fund managers.

1,000,000 STRT tokens up for grabs over the entire competition series (valued at approximately $600,000).

Competition prizes will be awarded to both fund managers and investors.

First competition, the Wolf of SolStreet, launches 2 August 2021. Register your interest here.

Following last week’s unveiling of SolStreet, we are proud to announce the launch of a series of official devnet fund competitions to run over 12 weeks collectively dubbed Money Never Sleeps and kicking off with the inaugural Wolf of SolStreet competition.

The purpose of these competitions is to give new users the opportunity to interact with the core functionality of the protocol and provide valuable feedback to the development team for additional features and improvements. Our goal is to create the best decentralized fund management protocol, which will be made possible by the feedback received from the early users. These competitions also represent the first opportunity for the public to get their hands on the protocol’s STRT tokens — before any public sale.

The competition is for investors and fund managers alike and will offer rewards to the top performers in each category. These will be in the form of the protocol’s governance token, STRT. 1% of the total STRT token supply (1,000,000 tokens) has been allocated to Money Never Sleeps — representing approximately US$600,000 in prizes at public sale prices. The exact token allocation per competition and category will be made public in due course.

All competitions will be taking place on the devnet and thus all trades are paper trades i.e. no real tokens are exchanged and participation is risk-free.

For the first competition, The Wolf of SolStreet, fund managers will be able to test the protocol’s basic functionality by creating a portfolio using some of the most liquid crypto assets and stablecoins, including: BCH, BTC, DOGE, ETH, LUNA, LTC, SOL, SRM, and USDC. Asset prices are pulled from Pyth network.

Over the course of Money Never Sleeps additional trading functionality, including the ability to set stop-loss and take-profit orders, as well as the use of leveraged or short positions (via the addition of BULL and BEAR tokens) will be made available to fund managers.

The Wolf of SolStreet

The rules of the competition are quite simple. Both fund managers and investors will be ranked according to the following criteria, with rewards allocated to the top 500 performers in each category:

• Best overall ROI (investors & fund managers)
• Best Sharpe ratio (investors & fund managers)
• Most individual investors (fund managers)

The first competition period will start on the 2nd of August and run for a two week period. Thereafter, rewards will be allocated to winners and entries for the next competition will open (an entry into any competition qualifies you for all subsequent competitions).

Token and NFT rewards

A total of 1,000,000 (1% of the total STRT supply) will be available as rewards. These tokens will be worth approximately $600,000 at public sale prices. The specific allocation of the prize pool per investor and fund manager category will be announced prior to the competition launch.

The winners of each category will receive a unique SolStreet NFT as an additional benefit for being one the early super-users of the protocol.

Token rewards will be distributed after the launch of mainnet. The tokens will be subject to a 4 year linear vesting period — consistent with the vesting period of other SolStreet ecosystem partners.

Signal your interest by following this link and providing your email address — registration details will be emailed to you in the coming days. Entries for the competition will close on Monday the 2nd of August (date of the competition start date). If you miss the sign up for the first competition, you will be notified by email prior to the next competition’s start.