Session 4 is Live!
DerivaDEX Competition and Engineering Update
Hey traders and the DerivaDAO community,
The first phase of the Cambrian testnet competition has concluded, but Session 4, a non-competition session, is starting today!.
A quick recap–
The Cambrian trading competition is divided into trading sessions. In each of the first competition sessions, traders received 100K USDC on the Kovan testnet to deposit at beta.derivadex.io. So far, there have been 3 sessions.
Winners from each session will receive a % of the trade mining (or PnL) prize based on the length of the session, proportional to the total competition phase. In this group of sessions, traders competed for a PnL prize of 2,000 DDX and a trade mining prize of 8,000 DDX.
For a more specific breakdown by session:
- Session 1: 25%
- Session 2: 50%
- Session 3: 25%
Winners of past competition sessions will be contacted via email shortly, and the list of top PnL accounts will be published next week as well. Stay posted!
Session 4 — What’s next?
As the exchange nears mainnet readiness, the public Cambrian testnet competitions will continue. Up next is Session 4, a “non-competition” session.
Session 4 will still have some special prizes — that may give traders an advantage in the next competition session!
Please note: marketmaking bots will be turned on, and OFF, periodically for this non-competition session. The goal is to stress test the system in a variety of liquidity and volume scenarios. If you want to make sure you can keep playing, reserve some portion of your USDC (i.e, do not deposit the full 100,000) or make sure to close positions often.
Why is this? → learn more about cross-margin leverage.
What’s new in Session 4?
- Withdrawals are enabled! Go ahead, give it a spin. Feedback or questions? Tag a team member in the Discord.
- New error alerts, which should be more clear and enable better troubleshooting
How to participate?
If you participated in past sessions, you should have USDC for the current release in your wallet already.
If you need to register for Session 4, (and all upcoming sessions), please submit this form.
Please note — in upcoming competition sessions, ALL traders will need to confirm participation via this form, *regardless* of prior registration status.
Other updates:
Last month’s community call was a great success, and one of the most well-attended virtual events yet. If you want to check out the slides we went through, they’re open to comment and questions here.
Want to hear about the next one before it happens? Make join the Discord and follow on Twitter to learn more about upcoming products and early access opportunities.
