Arb Chad Trading Contest
$100k prize pool
TL;DR
- MUX will launch the Arb Chad Trading Contest between May 2nd and June 2nd, 2023.
- Total prize pool: $100K (50% $MUX, 50% $ARB)
- Join the contest using the MUX Aggregator to open MUX, GMX or Gains positions on Arbitrum.
- Traders will be ranked by the cumulative PNL (including unrealized PNL from open positions + realized net PNL from closed positions).
- Traders will be placed in three brackets based on cumulative trading volume during the contest.
— Chad Tier: > $20M
— Gold Tier: $2M — $20M
— Silver Tier: $10K — $2M
- The top 5 traders from each bracket will share a $90K prize pool.
- The top 100 traders from all participants will each win $100.
- Minimum volume threshold to join the competition: $10K (spend $8 — $10 in fees).
- Trading contest duration: 31 days.
- The actual reward token numbers will be calculated based on the price at the time of rewards distribution.
- Join the contest: https://app.mux.network/#/trade?chainId=42161
Intro
Hey everyone,
MUX was honored to be one of the Arbitrum DAO airdrop recipients, and the airdrop emblems MUX’s contribution and dedication to the ecosystem.
Based on community suggestions, MUX plans to utilize the airdropped $ARB in various campaigns to onboard more traders and help boost ecosystem growth as the first leveraged trading aggregator.
We are very thrilled to announce the Arb Chad Trading Contest! The total prize pool will be $100K (50% in $MUX, 50% in $ARB), and traders can participate in the competition by opening MUX, GMX and Gains positions using the MUX Leveraged Trading Aggregator.
How to Participate & Win
- You can join the competition by using the MUX Leveraged Trading Aggregator to open MUX, GMX or Gains positions on Arbitrum. Join the contest: https://app.mux.network/#/trade?chainId=42161
- Participants will be ranked by cumulative PNL (including unrealized PNL from open positions + realized net PNL from closed positions) from MUX, GMX, and Gains positions opened through the MUX aggregator during the contest.
— Realized Net PNL = Realized Gross PNL — Fees (including open & close fees, funding fees, borrow / rollover fees and other related fees charged by each underlying protocol)
- The top 100 traders from all eligible participants will each win $100 after the contest ends.
- Traders will be placed in three brackets based on cumulative trading volume during the contest.
— Chad Tier: > $20M
— Gold Tier: $2M — $20M
— Silver Tier: $10K — $2M
- The top 5 traders from each bracket will share a total of $90K prize pool after the contest ends, allocated as follows:
— Chad Tier
Rank #1: $18,900
Rank #2: $15,750
Rank #3: $12,600
Rank #4: $9,450
Rank #5: $6,300
— Gold Tier
Rank #1: $6,750
Rank #2: $5,625
Rank #3: $4,500
Rank #4: $3,375
Rank #5: $2,250
— Silver Tier
Rank #1: $1,350
Rank #2: $1,125
Rank #3: $900
Rank #4: $675
Rank #5: $450
- Minimum volume threshold to join the competition: $10K (spend $8 — $10 in fees)
- Competition duration:
— Start: May 2nd, 2023, 2:00 am UTC
— End: June 2nd, 2023, 2:00 am, UTC
- The prizes will be distributed to winners’ addresses directly in 50% $MUX and 50% $ARB; the actual reward token numbers will be calculated based on the price at the time of rewards distribution.
What Markets / Pairs are Eligible for the Trading Contest?
Over 90 markets/pairs offered by MUX, GMX and Gains are all eligible for the trading contest if the position is opened through the MUX Leveraged Trading Aggregator.
About the Rewards
As an honorable recipient of the Arbitrum DAO airdrop, MUX will thoughtfully utilize the airdrop to boost ecosystem and protocol growth. However, to avoid creating unnecessary pressure for $ARB, the portion of $ARB incentives allocated for each campaign should be relatively conservative. The unused $ARB airdrop tokens will remain reserved unless further discussions and proposals occur in the community.
The $MUX token rewards come from campaign reservations and can be reimbursed by the previously-approved marketing budget. The $MUX rewards won’t dilute the total supply.
