The first season of the Grand Prix reveals an exciting new addition to Vela Exchange, complete with a recurring seasonal system, dynamic rulesets, and gamified rewards.
This season of the Grand Prix, Enter The Megacity, introduces the Grand Prix experience with a prize pool fueled by the recent 1,000,000 $ARB grant from the Arbitrum DAO, as well as other rewards.
For the Vela Exchange community, participation in the Grand Prix involves not only the chance to obtain top notch rewards every round but also a unique opportunity to immerse into a rags to riches storyline that introduces new Vela Exchange features, Vela v2 teasers, and beautiful aesthetics that may hint towards the future look of the Vela Exchange ecosystem.
There are several new concepts introduced that are crucial to participating and winning the Enter The Megacity season:
- Rewards
- Seasons & Rounds
- Credits
Rewards
For the inaugural season of the Grand Prix, there will be up to $1,000,000 in prizes, with a baseline of 400,000 $ARB rewards available. Remaining rewards may include $ARB, $esVELA, $VELA, and others and will unlock as certain activity milestones are hit.
‘It’s the chance to change your life, anon. You probably won’t see many opportunities like this in your life.’
The main rewards will follow the guidelines below:
- Every round, prizes will be claimable based on leaderboard placement
- The current season rewards all top 100 placements
- Leaderboard placements will be dependent on Credits earned
- There are seasonal rewards that depend on Credits earned throughout the multiple rounds within the Enter The Megacity season
There will also be unique rewards introduced as certain rounds or milestones are hit, but we can’t reveal more about those at this instant.
Part of the Grand Prix excitement will be the discovery process as Vela Exchange racers explore the Enter The Megacity race tracks.
Seasons and Rounds
Seasons are the top level of hierarchy in the Grand Prix.
Each season will unveil new storylines, mechanics, and rewards — a refreshing new way to stay on your toes and keep things exciting.
Enter The Megacity is the current season, and within seasons exist the concept of rounds.
Think of rounds as epochs, or segments of a race that you can place within. Each round may last 1–4 weeks, but expect mutations and surprises between seasons and rounds.
‘I swear…I’ll win the next season. He won’t get away this time.’
Rewards will be claimable based on leaderboard placement — Enter The Megacity rewards the top 100 finishers.
Credits are the lifeblood of competitors within seasons, with ways for all Vela Exchange participants including traders and liquidity providers to earn credits.
Credits
Credits determine a competitor’s placement on the leaderboard.
Cumulative credits between rounds will be tracked for seasonal rewards.
Each season and round will have some shared mechanics in the following categories:
- Trading
- $VLP and liquidity provisioning
- $VELA related activities
- Social activities
- Partner activities
