Announcing Hubble’s Trading Competition, Andromeda
The time is now finally here for the launch of Andromeda — Hubble’s Final Testnet launch before mainnet. To battle test the protocol, we are inviting perps traders to showcase their skills during these volatile markets. It’s the perfect opportunity to showcase your skills and take your share of the prize pool! Hubble Exchange is a Multi-collateral/Cross-Margin Perpetual Futures Exchange on Avalanche.
Here’s what you need to know
Time: The competition begins at 6 AM UTC on 11 Feb 2022
App: https://andromeda.hubble.exchange
Registration: use the #challenge-faucet on discord once the competition commences! The airdrop will be instant.
The Andromeda Trading Challenge will be on the Avalanche Fuji Testnet, spaning 2 weeks. The competition will end on 25 Feb 2022, 6 AM UTC. The winners will be decided based on the greatest dollar value return over the two week trading period.
During the competition, new traders are welcome to join using the same faucet, however, the faucet will close on 23 Feb 2022 6 AM UTC, 48 hours before the end of the compeition.
Prizes:
First — $10k + 4 HSC
Second — $5k + 3 HSC
Third — $2.5k + 2 HSC
4–10th — $500 + 1 HSC
11–100th — $100 + 1 HSC
Prize Pool for Traders: $30,000
There will be another prize pool for Makers.
First — $7,500 + 4 HSC
Second — $5,000 + 3 HSC
Third — $2,000 + 2 HSC
Fourth — $1000 + 1 HSC
Fifth — $1000 + 1 HSC
6th-10th — $700 each + 1 HSC
Prize Pool for Makers: $20,000
What are Makers? Similar to liquidity provision by LPs in Curve V2 pools, Makers provide virtual liquidity in the Hubble vAMM pool but on leverage i.e. they can add more virtual liquidity than their margin and earn fees on leveraged liquidity. For every position opened by a trader, there is a counter position opened for all makers and they share it in the ratio of their liquidity.
You can read more about Makers here.
Makers will have a pnl just like traders. They can be traders too. If a participant is taking on the role of a Trader and a Maker, they’ll be considered in both pools.
Total Prize Pool: $50,000
The cash prizes can be claimed in USDC or as Hubble tokens at the equivalent USD value at the market price after TGE (sometime in 2022).
