SpiritSwap Perpetuals Goes Live with Incentivized Trading Competition

Last week, we announced the launch of the SpiritSwap Perpetuals Exchange, powered by Lynx. Here’s a quick summary in case you missed the post:

• SpiritSwap launches a new Perp DEX, powered by Lynx, to offer perpetual futures trading to its community
• The native project token $SPIRIT has been listed as a collateral option, offering token holders exposure to other instruments
• SpiritSwap’s Perp DEX boasts gasless trading with up to 100x leverage

Now, it’s time to showcase your trading skills and climb to the top! The moment you’ve been waiting for is here. Lynx, in partnership with SpiritSwap, is thrilled to announce the launch of an exciting trading competition, now live.

Join the Competition: https://perps.spiritswap.finance/spiritswap/leverage?chainId=250&sa=spirit&pairId=1

Every week, you’ll have the chance to compete for incredible prizes, with the top 5 traders each week winning $SPIRIT rewards. Let’s dive into the details!

Contest Details

• Prize Pool: $800 of $SPIRIT every week
• Collateral Asset: $SPIRIT
• Dates & Times: Every Monday @ 00:00 UTC

How the Competition Works

The competition will be divided into rounds, each lasting one week. At 00:00 UTC each Monday, the previous round will end, the next round will start, and all stats will be reset — putting all traders on even ground.

Each round, prizes will be awarded to the top 5 traders using $SPIRIT as collateral. Only trades using $SPIRIT as collateral will be counted.

So, whether you dominate from the get-go or make a late surge, every week is a fresh start and a new opportunity to climb the leaderboard!

Leaderboard Ranking

Your rank will be based on your Profit and Loss (P&L) during each round. All trades opened within the round will be counted, even if they remain open at the round’s end. This structure favors larger traders, giving them a better chance of achieving a higher leaderboard position.

P&L will be calculated by measuring the trader’s earnings or losses, including any interest or funding accrued by their positions. For the purposes of ranking, opening and closing fees are disregarded.

Reward Distribution

A substantial prize pool is up for grabs on Fantom, with the top 5 traders receiving significant rewards. Remember: every spot makes a difference!

• 1st: 186,000 $SPIRIT
• 2nd: 155,000 $SPIRIT
• 3rd: 77,500 $SPIRIT
• 4th: 46,500 $SPIRIT
• 5th: 31,000 $SPIRIT

Let the Games Begin!

Lynx’s trading competition is a multi-week contest divided into intense week-long rounds. Traders are incentivized to use their $SPIRIT tokens to achieve the highest P&L by the end of each round, with new opportunities to win starting every Monday.

Lynx’s Twitter will be closely following the contest and highlighting the performance of leaderboard traders — don’t miss it!

As always, if you have any questions, reach out to the community on Discord (linked below).

Happy trading, and good luck!

• Official Website: https://www.lynx.finance/
• Twitter: https://twitter.com/Lynx_Protocol
• Discord: https://discord.gg/DTcw3rT28J
• Medium: https://medium.com/lynx-finance