Introducing the Hydranet Core DEX Trading Competition
We are thrilled to announce the launch of the Hydranet Core DEX Trading Competition, starting on 31th May 2024 at 21:00 CET and ending at 19th June 2024 at 20:00 CET. This exciting event is designed to encourage trading on the Hydranet Core DEX, inviting both seasoned and new users to experience the unique benefits of our decentralized exchange platform. Participants will have the chance to earn attractive rewards and contribute to increasing the overall trading volume, thus benefiting the Hydranet ecosystem.
Why Participate in the Trading Competition?
The Hydranet Core DEX stands out in the decentralized finance (DeFi) space due to its innovative use of the Lightning Network and Vector Network. This combination enables cross-chain, instant, scalable, and private swaps, making trading faster and more secure. Here are some key reasons to participate:
- Experience Cutting-Edge Technology: Engage with our Core DEX, which leverages advanced technologies to offer a superior trading experience.
- Earn HDN Rewards: Participants will be incentivized through rewards in HDN, distributed according to a predefined reward structure.
- Contribute to Hydranet’s Growth: Increased trading volume generates more fees, directly benefiting the Hydranet ecosystem.
Current Limitations
To accommodate more users in the trading competition, we have implemented some temporary limits. These are in place to ensure a smooth and efficient trading experience for all participants:
- 300 USD: Maximum channel rental size
- 1000 USD: Maximum order size
- 24 HOURS: Maximum channel rental duration
- 1 HUB: Due to the limits of the Vector Network
Additionally, we experienced issues with our Arbitrum nodes and had to switch to Ankr. This has temporarily increased the swap duration to about 10 seconds. Once the syncing is done, we will switch back to our own nodes and provide 2–3 second swaps again.
Supported Trading Pairs
We are excited to announce that during the competition, we will be providing liquidity for the following trading pairs:
- BTC/AUSDT
- HDN/AUSDT
This will ensure a smoother trading experience and better liquidity for all participants.
Reward Structure
The rewards will be distributed across multiple tiers based on trading volume. The reward structure is designed to balance attracting participants to create high volumes within the next two weeks:
- Tier 1: > 1,000 USD trading volume — 500 HDN reward
- Tier 2: > 2,000 USD trading volume — 1,025 HDN reward
- Tier 3: > 5,000 USD trading volume —2,600 HDN reward
- Tier 4: > 10,000 USD trading volume — 5,500 HDN reward
- Tier 5: > 25,000 USD trading volume — 14,000 HDN reward
To be eliglibe, you also need to follow TheHydranet on twitter and retweet this tweet:
Feel free to tweet more about this competition!
Note: Hydranet DAO reserves the right to adjust the rewards in case it is necessary or beneficial to the project/campaign. A single wallet can’t get more than 14,000 HDN; a total of 250,000 HDN is reserved for this campaign.
How to Get the Core DEX
You can download the latest version of the Hydranet Core DEX from our official website: https://hydranet.ai/en/download
Tutorials
To help you get started, we have prepared tutorials on HDN-USDT swaps and channel management:
Find more tutorials here: https://hydranet.ai/en/tutorials
Special AMA Event with Down Under Trading
To kick off the competition, we will be hosting an AMA with Down Under Trading tonight at 21:30 CET in their Discord. Down Under Trading is renowned for educating traders on smart, practical trading strategies through risk management and technical analysis. This event is an excellent opportunity to learn and prepare for the competition. Join their Discord: https://discord.com/invite/DjeAbG4R.
Goals and Expectations
Our primary goals for this trading competition include:
- Increasing the number of on-chain wallets and unique Hydranet DEX wallets.
- Getting people familiar with the speed of off-chain swaps
- Generating substantial trading volume to showcase the Core DEX’s capabilities.
Competition Duration
The trading competition will run for two weeks, giving participants ample time to trade and compete for rewards.
Please note, that if malicious behavior is detected, wallets might be excluded from receiving rewards in this campaign. So don’t try to trick the system and happy trading!
Outro
To stay updated or ask any questions you have, join us on Discord and follow us on Twitter to stay up-to-date with our latest news and developments. Make sure to check out our website for more information.
- Discord: https://discord.com/invite/hydranet
- Telegram: https://t.me/hydranetofficial
- Twitter: https://x.com/TheHydranet
- Website: https://hydranet.ai
The Hydranet Core DEX Trading Competition is more than just a contest; it’s an opportunity to be part of a growing DeFi ecosystem. By participating, you not only stand a chance to earn rewards but also contribute to advancing decentralized trading technologies.
Prepare your channels, join the community, and get ready to trade! We look forward to seeing you in the competition.
For more details and updates, follow us on our social platforms.
