Trading Contest on Arbitrum with 100,000 DAI in Prizes! 🎉
GM gTraders!
Launching on Arbitrum was the culmination of many months of laser-focused work, so we’re ready to kickoff trading on the chain with a bang!
And what better way to introduce new traders to the platform than some good ole-fashioned competition?
Like everything else we ship — we went above and beyond usual trading competitions and pushed the envelope in a few areas we outline below.
Inclusivity: Every gTrader has an Equal Shot
Trading contests are great for introducing new users to a platform. Unfortunately, they’re often plagued by a number of shortcomings, such as:
- Unnecessary registration procedures
- Registration fees
- Unbalanced winning criteria
- Rewards in illiquid protocol tokens
- Short contest time frames
However, gTrade is all about becoming the foremost decentralized trading platform for traders of all specialties — and portfolio sizes! To align with this, we’re taking a more inclusive approach to the contest. We’ve closely considered the drawbacks of other trading contests and came up with a structure that’s easy to join and gives all Arbitrum gTraders a shot at placing on the leaderboard!
Contest Details
We anticipate there to be a lot of questions — so this section will be brief and to-the-point.
How do I win?
There are two leaderboards with different winning criterias: one is measured by total absolute PNL (= sum of your individual trades PnL in DAI) and the other by total percentage PNL (= sum of your individual trades PnL %).
Please note that only trades opened during the contest will count in the leaderboards and that the PNL of all your open trades at the end of the contest will also be taken into account!
How many winners are there?
The top 25 gTraders for each leaderboard win prizes. There will be 50 winners in total.
How will the prize money be paid?
Winners will be paid in $DAI on Arbitrum. Some trading contests opt to pay in their native token, but we want to make sure your winnings remain stable (and don’t cause sell pressure for existing $GNS holders).
How will the $100,000 be distributed among the 50 winners?
There will be two separate leaderboards (each rewarding 25 winners) following this distribution:
#1: $20k
#2: $10k
#3: $5k
#4: $3k
#5: $2.5k
#6: $2k
#7: $1.5k
#8: $1k
#9: $750
#10: $500
#11-#15: $350
#16-#20: $250
#21-#25: $150
When is the contest taking place?
The contest is from January 25th (9:30 AM ET) to February 25th (9:30 AM ET). This is a wide enough window to give everyone an equal shot at participating. You might miss a one-week contest. You might miss a two-week contest. But a month gives plenty of time to participate.
Where is the contest taking place?
The contest is taking place on gTrade on Arbitrum only.
How do I join the contest?
Trading competitions often involve signing up through affiliate links, registering, paying a registration fee and/or making an account to join.
Not with us.
We’re decentralized — through and through.
You don’t need to register for the contest. Everyone gTrader that trades on Arbitrum from January 25th to February 25th is automatically enrolled into the contest — no extra payment, no extra links, no extra hassle.
Do I have to trade certain pairs for the contest?
Nope! Trading any pair and any asset class on gTrade counts towards the contest results. One of the differentiating factors of gTrade is how many pairs (and asset classes) our unique synthetic architecture allows us to offer. Our goal for the trading contest is to give equal opportunity to traders of every specialty and to show the Arbitrum trading community how flexible gTrade is as a platform!
There’s no additional red tape to joining the contest because there’s no need to register. You don’t need a big portfolio to win prizes from the contest. Just trade as you normally would on Arbitrum and get rewarded for your skill when you trade well.
We’re bringing you a competition that isn’t only easy to join — but one that also presents an equal opportunity to traders of all specialties and portfolio sizes. We’re excited to see both new & existing traders participate.
The contest starts on January 25th at 9:30 AM ET.
Save the date gTraders — we hope to see you on the leaderboard!
