The Econia Labs Testnet Trading Competition is Live!

Trade on Econia via — Aries Markets, Kana Labs, and SwapGPT: $5,000 & Exclusive NFTs Prize Pool

Published in

Econia Labs

3 min readOct 24, 2023

The Econia Labs Testnet Trading Competition is now live! Come trade on Econia, the on-chain order book on Aptos via Econia’s frontend partners — Aries Markets, Kana Labs, and SwapGPT.

Test your skills, win prizes, and remember — The more you trade, the more likely you will win.

TLDR: Testnet Competition Overview

Duration

October 25, 2023 00:00 UTC — November 1, 2023 00:00 UTC

Prizes

Total USDC Rewarded: $5,000 USDC

🥇 First Place: $2,500
🥈 Second Place: $1,500
🥉 Third Place: $500
🐛 Bug Bounty Raffle: $500

💎 Exclusive NFT Rewards 💎
Each day of the 7-day Testnet Competition, an Aptos Ecosystem NFT will be raffled to an active trader; inactive participants are not eligible for the NFT raffle.

How To Win

Winners will be determined by their final point standings. Boost your points by trading on multiple platforms — the more you trade, the higher your chance to win!

Key Rules

🫂 Utilize Partner Frontends: To score points in the competition, participants must use at least one of the featured partners. Using more partners boosts your points!
📝 Submit Feedback Form: To qualify for USDC rewards, you must submit a feedback form.
Note: If you report bugs, you’ll automatically be entered into the bug bounty raffle via the Aptos address you provide in the form.

How The Point System Works

The point system, featured in the leaderboard , is defined as such:

Trade more volume on more frontends to gain more points and win.

Frontend Multiplier

Multiplier for every frontend used: Someone who uses two frontends gets twice as many points as someone who only uses one frontend, all else being equal.

Example:

1 Frontend = 1x
2 Frontends = 2x
3 Frontends = 3x

Volume Multiplier

Exponential volume multiplier: 2x points for each 10x in user trading volume accrued during the competition:

Example:

10 eUSDC Volume Traded = 2x
100 eUSDC Volume Traded = 4x
1000 eUSDC Volume Traded = 8x
10,000 eUSDC Volume Traded = 16x
100,000 eUSDC Volume Traded = 32x

Key Trading Limitations & Considerations

Trading Pair

Participants must use eAPT — eUSDC for the competition.

Throttler

The competition market uses a throttler to help ensure fair trading conditions. Exceeding the set limits will trigger errors.

Trade Limits: 500 eAPT maximum per single trade.

Faucet Minting Limits:

eAPT: 100 eAPT maximum per mint.
eUSDC: 600 eUSDC maximum per mint.

Faucet Minting Delay: 10-second wait between faucet mints.

Other Rules

Reporting Issues: Report competition issues immediately. Exploiting them will result in disqualification.
Code of Conduct: Participants must engage respectfully with peers, organizers, and the community. Harassment or disruptive behaviors are strictly prohibited.
Modification of Rules: While unlikely, organizers may adjust rules for competition integrity if required. Participants will be informed of any changes.
Disqualification Criteria: Apart from the specified rules, participants engaging in activities or behaviors that undermine the essence of fair competition may face disqualification at the organizers’ discretion.
Final Decision: The decision of the competition organizers regarding any rule violations or disputes is final and binding.

Please note

Prize money will not be distributed to wallets located in sanctioned countries.
Employees associated with any protocols involved in the trading competition will not qualify for any of the prizes associated with the Trading Competition.
Trading history prior to the start of the competition will not be indexed in the competition leaderboard.