Announcing Incentivized Testnet Competition | SubstanceX
Substance Exchange (SubstanceX) aims to create a decentralized trading platform with a superior product experience surpassing that of centralized exchanges, leading the migration of user trading habits towards decentralization.
In terms of products, SubstanceX combines various trading products such as futures and options, providing a seamless trading experience with a 1 click technology that eliminates pop-ups.
Regarding accounts, we will utilize MPC wallet technology to facilitate registration and login through web2-friendly methods such as email and phone numbers.
In terms of the user system, we have constructed a customer CRM and a comprehensive service system, offering users an exceptional service experience, ranging from user classification based on on-chain data to personalized 1V1 customer service.
With decentralized security and transparency, coupled with product services comparable to centralized exchanges, we believe SubstanceX will become the preferred choice for all users’ trading activities.
The SubstanceX team is thrilled to announce that we have launched our long-awaited testnet, and we invite the majority of users to test out our platform and provide feedback to share a Million of $SEX Tokens.
Ignite the Testnet, unlock your rewards!
- Starting Date: July 25th, 2023 09:00 UTC
- Ending Date: August 23th, 2023 09:00 UTC
- Testnet: https://test.substancex.io/
Interaction Rewards:
- Access the official testnet: https://test.substancex.io/ and switch the network to Arbitrum Goerli; Steps to Log in — Substance Exchange
- Click on the faucet at the top right corner of the website to claim test tokens and transfer the test assets from My Wallet to Exchange Wallet. Steps to Using Testnet Faucet — Substance Exchange
- Open “1 Click Trade”; Steps for using 1 ClickTrade (1CT) feature — Substance Exchange
- Buy Simple Options; Steps to Trading Simple Options — Substance Exchange
- Trade Perpetual Futures; Steps to Trading Perpetual — Substance Exchange
- Buy SLP; Steps for Buying and Selling SLPs — Substance Exchange
Completing the above four steps of interaction can earn 5 energy points respectively, and logging in using Web2 method can earn an additional 5 energy points
- Fill out the Gleam form to register your test address and complete the corresponding tasks:
- Follow the official Twitter account to earn 5 Energeia.
- Join our official Discord channel to earn 5 Energeia.
- Join our Telegram (TG) channel and community to earn 10 Energeia.
- Invite friends to complete the 4 testnet interaction tasks to earn 15 Energeia (counted after the end of the activity).
A total of 600,000 $SEX tokens will be distributed based on the user’s Energeia. The top 35% of users in the Energeia ranking will receive 300,000 tokens weighted according to their Energeia, while the remaining 300,000 tokens will be distributed among the bottom 65% of users in the ranking.
After the mainnet launch, users with Energeia exceeding 40 will receive a fee deduction credit worth 10U.
Trading Rewards:
To incentivize users to engage in trading, SubstanceX is hosting a trading competition during the testnet launch. Each competition week lasts for 7 days（Total 3 weeks,）, and a total of 600,000 SEX tokens will be rewarded(200,000 $SEX each week), with the following rules:
- The top 10 users on the trading leaderboard will share 50,000 SEX tokens reward, based on their profit rate weighting.
- Users ranked from 11th to 100th on the trading leaderboard will share 50,000 SEX tokens reward, based on their profit rate weighting.
- Users outside the top 100 ranks but with a trading volume exceeding 1000U and a positive profit rate will share 100,000 SEX tokens reward.
Note: Before the end of each trading week, the settlement must be completed for the trading volume to be calculated. All users must meet the condition of having a trading volume exceeding 1000U and a positive profit rate to be eligible for trading rewards. All users with positive profit rates will be granted V2-level rebate privileges upon the launch of the main network.
Bug Bounty Rewards:
If users report any bugs or provide suggestions, we will evaluate and register them at the end of the campaign. After the token available on exchanges, we will distribute additional SEX tokens as airdrops, ranging from 100U to 100,000U, based on the severity of the bug or the usefulness of the suggestion. If multiple people submit the same content, only the first user to submit will be eligible for the reward.
Submit Entry: https://forms.gle/bSHi1vSJRvnHpjgQ8
- All awards will be issued within 14 working days after TGE, and the specific number of awards for each address will be notified in the form of announcement at the end of the test activity.
- If cheating is found, the official has the right to cancel the relevant user’s qualification for the award.
- The final explanation right of the activity belongs to Substance Exchange.
If you have any questions, click MAVA on the website in the bottom right corner, we will provide 24-hour online customer service for everyone!
