MonoX Beta Launch Competition
🚀 Introducing our Beta Launch Competition
Thank you so much for all of your support this past month for testing our product and joining the MonoX family. We are thrilled to have you here with us on this journey to make DeFi more capital efficient and accessible to projects, traders, and LPs.
🙉 There are huge prizes up for grabs, a total of $10K USDC will be rewarded to the top 15 winners of our two competitions ($5k per competition).
We have deployed a new instance of Monoswap to Kovan and Mumbai, which means that there are no pools yet and it is a ‘clean slate’.
🚨 IMPORTANT — SIGN UP FOR THE COMPETITION
In order to enter the competition, sign up. Fill out the form below (click on the form and scroll down to access the lower part of the form).
🚨 BUT WAIT THERE'S MORE🚨
💰 We are doing the rewards pool size based on number of users. If we reach 10k users in the competition then we will increase the prize pools by 1.2X and if we get to 20k users we will increase the rewards pools by 2X.
So make sure to invite your friends and network in order to win a bigger rewards pool for all 😉
Both competitions will end on August 9th, 11:59PM GMT.
🐛 Bug Bounty
We are also continuing to run a bug bounty with $2k of rewards. Please contact us in the Discord channel.
1️⃣ Competition One: Highest vUSD Amount in Wallet
Competition Brief
For Competition One the winners will be chosen by the amount of vUSD that is in their wallet at the end of the competition.
This is essentially a trading competition for users. Make swaps into vUSD to accumulate the coin.
Total Winnings: 5k USDC
- 1st Place: 2000
- 2nd Place: 1000
- 3rd Place: 500
- 4th Place: 300
- 5th Place: 200
- 6–10: 100
- 11–30: 25
Why this competition?
We chose this competition because it can help simulate a market on our beta dapp also because it will be fun for some of our DeFi degens to ape in and swap tokens to increase their vUSD balance.
How does it work?
Users can use the explore feature to find coins and start swapping tokens in exchange for vUSD. Make swaps to increase your vUSD wallet balance. The aim is for users to purchase tokens and sell after the token has appreciated in value, in order to receive more vUSD.
How do I participate?
Anyone is welcome to participate. All you have to do is just fill out the form below.
What do I need to know?
- How our AMM works visit our Docs and old medium articles.
- Remember you can only sell tokens if the vUSD balance is positive. If you see the Error message saying vUSD balance is too low, it means you cannot sell any more of that token.
- How to make swaps on our AMM.
- Only trade into vUSD so you increase your vUSD stack.
Walkthrough guides:
Visit our Documentation Page for the in-depth competition guide here.
2️⃣ Competition Two: Highest vUSD Amount in Pool
Total Winnings: 5k USDC
- 1st Place: 2000
- 2nd Place: 1000
- 3rd Place: 500
- 4th Place: 300
- 5th Place: 200
- 6–10: 100
- 11–30: 25
Competition Brief
For Competition Two, the winners will be chosen by the — vUSD balance of the pool they created at the end of the competition. The highest vUSD balance wins.
This is essentially a competition for users to launch their own testnet token and the most popular token will win. Other users will purchase your token and the vUSD balance in the pool will increase.
Why this competition?
We have chosen this competition to highlight how easy it is to launch a token on Monoswap, using our ‘Innovation Zone’ permissionless listing pool. We make it so easy due the fact that you only need one token and not two like most AMMs using liquidity pairs.
How does it work?
The contest is very simple, users create a new token using Token Mint. Then users can set an initial price and add liquidity to a new pool to launch the token.
Once you have launched the token try to get other users to purchase your token and watch your vUSD balance go up 📈. You can use the analytics feature to track your token’s metrics.
We will also be releasing a public Dashboard 😈
How do I participate?
Anyone is welcome to participate. All you have to do is just fill out the form below.
What do I need to know?
- How our AMM works visit our Docs and old medium articles.
- How to create and launch a token see the walkthrough below.
- Remember setting the right initial price is very important for price discovery on newly launched tokens. If you set the price too high and no one buys, then your pool will remain with a zero vUSD balance.
Walkthrough guides:
See our guides on how to connect to Kovan and Mumbai.
Beta Competition — Best Trader
Beta Competition — Most Popular Pool
📜 Rules
❌ You are not allowed to use any ‘real world’ token names or symbols apart from ETH and MATIC.
If you use, for example, Kovan LINK you will be disqualified. This is for both trading and also especially for creating your own pool. You are not allowed to create a new pool using a real world token like Kovan LINK.
❌ There is a max amount of ETH or MATIC that you can sell during the competition for Competition Two. You are only allowed to sell up to 10 ETH and 1 MATIC. The reason for this rule is to prevent pool owner to abuse the vUSD trading competition from accumulating vUSD from pool instead of trading through swaps. This is also to make it as fair as possible as not everyone has lots of kETH or WMATIC and it's difficult to get them from faucets.
❌ We will disqualify any use of BOTs for the competitions
✅ You are allowed to use Kovan or MATIC the competitions are not separated by the network used. So use whichever one you prefer.
✳️ Please note winners can only win one competition, if you place (1st — 5th place) in both competitions then you will be selected for the one where you placed higher. If you are in the same place for both it will be for the most popular pool category.
🚨 IMPORTANT — SIGN UP FOR THE COMPETITION
In order to enter the competition, you sign up. Don’t forget to fill out the form here.
🤳 Don’t Forget to Share your token!
Make sure to use our new social share feature to share your token.
On the swap page, social share buttons will appear below after you have selected two tokens — we recommend putting ‘ETH or MATIC in ‘You Pay’ and your own token in ‘You Recieve’. You can share on Twitter, Telegram or click to directly copy the link!
Use the following #s
#WAGMI #SwapwithMonoX
About MonoX
MonoX introduces the premier bootstrap decentralized exchange, Monoswap. Project owners can list their tokens without the burden of capital requirements and focus on using funds for building the project instead of providing liquidity. It works by grouping deposited tokens into a virtual pair with our own vUSD stable coin, to offer a single token pool design.
MonoX will revolutionize the DeFi ecosystem by fixing the capital inefficiencies of current protocol models. With lower trading fees, capital efficiency, and zero-capital token launching — MonoX will expand the capabilities of DeFi.
📱 Stay Connected
Follow our official social media accounts and visit our website to stay up to date.
Website | Documentation | Twitter | Telegram | Discord
🚨 IMPORTANT
Be careful of fake Telegram groups, and Twitter accounts trying to impersonate MonoX. $MONO tokens ARE NOT in circulation.
Always verify that you are on our official Twitter page, Telegram group, or Discord
