🚀 Exciting News! 🚀
Attention all degens! 🌐✨
Nibbl is thrilled to announce the launch of its first-ever testnet trading competition 1!
What sets Nibbl apart from other existing NFT perpetuals?
Nibbl’s unique architecture was designed to address challenges faced by existing NFT perps in the market. Firstly, the absence of external liquidity providers in vAMMs can result in unrewarded trades and impact the overall trading experience. Secondly, vAMMs calculate trade prices internally, deviating from traders’ preferences for spot prices based on the underlying asset. Lastly, the reliance on individual smart contract deposits in vAMMs, as opposed to the shared liquidity pool in Nibbl’s AMM, leads to lower liquidity, higher slippage, and potential trading inefficiencies.
Nibbl is the first perpetual DEX for NFTs and on-chain assets with low slippage, high leverage, a robust oracle for precise pricing and a Unified Liquidity AMM where liquidity pool operates independently from the underlying asset that facilitates instant bootstrapping of new collections, efficient liquidity management and a more streamlined trading experience. In addition to this, users can earn yield by providing liquidity to the WETH vault for NFT pairs as well.
Nibbl’s Testnet Trading Competition 1
🎉 Are you ready for Nibbl’s Testnet Trading Competition 1 kicking off on Jan 20th? Climb up the leaderboard and win exciting rewards, including NFTs like Lil Pudgy, Y00ts, and Beanz and earn Nibbl points which will be converted to Nibbl’s token in the future!
📅 Competition Duration: January 20th to February 20th
Nibbl is running a 30-day-long trading competition where all participants stand a chance to win exciting rewards!
🏆 Who is whitelisted to participate?
We wanted to reward early NFT adopters, NFTfi users, perpetual traders and select NFT communities. We have whitelisted wallets associated with these platforms and collections for early access to Nibbl’s platform. Here’s who is eligible:
- All NFT holders of pairs listed on Nibbl.
- BAYC
- Cryptopunks
- MAYC
- Azuki
- Moonbirds
- Pudgy Penguins
- Milady
- Captainz
- Opepen Edition
- Wassies
- Sproto Gremlins
- DeGods
- Yoots
- Kaiju Kings
- Yoga Petz
- GMX Blueberry
2. All wallets that have interacted with below mentioned DeFi perpetual and NFTfi platforms in the past 3 months.
- GMX
- Gains Network
- Vertex
- Nftperp — (Mafia nut holders)
- Wasabi
- Bend DAO
- Blend
- NFTfi
- Arcade.xyz
3. Advanced Derivative user wallets from Polygon, Arbitrum and Optimism will also be whitelisted.
If you are eligible and fall under any of the above-mentioned categories, visit the registration link, complete the mentioned tasks, claim a Soul Bound Token, and hang tight for the trading competition to go live.
For users not falling into any of the above-mentioned categories, sit tight. We will be giving away whitelist spots through giveaways and collabs within the NFT community! Keep your eyes on our socials for the same
📒 How do whitelisted wallets register for Nibbl’s Testnet Trading Competition 1?
- To register, whitelisted wallet users will have to complete a few tasks given below:
- Visit the registration link
- Check if you qualify for Nibbl’s testnet trading competition 1
- Complete the tasks mentioned in the quest
- Claim your Soul Bound Token
- Say GM in Discord and wait for the trading competition to go live
Whitelisted wallets can register until the last day of Nibbls trading competition 1 (20th of February). Those who register before 20th January will get 50 extra points.
Once all the above steps are completed you can start trading once the trade competition goes live.
To start trading on Nibbl:
- Request Base Sepolia ETH and mock WETH from faucet on Nibbl’s trading page
- Enter the competition with your first trade!
🌟 Points System:
Here is the point system for Nibbl’s testnet trading competition 1.
- Early-Bird Points:
Be among the first to trade post-competition launch:
- First 50 unique wallet trades after the competition goes live: 10 Points per wallet
- Those who register before 20th January will get 50 extra points.
2. Trade Opening Points:
Open trades daily and earn points:
- Open 1 position daily: 10 points per day for opening one position (long or short)
3. Consistency Bonus:
Maintain a consistent trading routine:
- Daily Trading Streak (Opening at least one trade daily): 10 Points per Day
- Weekly Trading Streak (Opening at least one trade daily for a week): 100 Points
- Instead of 70 points, users will get 100 points; i.e. 30 extra points. - Monthly Trading Streak (Opening at least one trade daily for a month): 500 Points
- Instead of 300 points, users will get 500 points; i.e. 200 extra points.
4. Community Engagement:
Engage with the Nibbl on our socials and earn points:
- Participate in Nibbls Discord campaigns: 5 Points
- Discord campaigns will include tasks like making memes, creating content and other fun tasks.
- More social tasks will be revealed as the campaign progresses.
5. Top Performer rewards:
Stand out and receive bonus points:
- Weekly Top Performers (Based on P&L): 750 points
- Top 5 (1st — 250, 2nd — 200, 3rd — 150, 4th — 100, 5th — 50) - Overall Competition Winner: 5200 total Bonus Points
- Top 10 (1st — 1800, 2nd — 1200, 3rd — 800, 4th — 10th — 200) - Top percentile of traders
- Top 10% — 100 points, Top 25% — 50 points, Top 50% — 25 points
6. Leaderboard Standing (PnL):
Secure your spot on the leaderboard and earn bonus points:
- Daily Leader: 20 Points ( GMT + 0 ) ( trades taken and closed on that day)
- Weekly Leader: 250 Points ( Monday GMT + 0 ) (trades taken and closed in that week)
- Nibbl Trading competition leaders: NFTs to the top 3
- Participating NFT badges for the top 100 in Leaderboard
7. Multiplier reward
All users participating in testnet trading competition 1 will get a 2x multiplier on the points they accumulate during the competition. Multipliers will be lowered for trading competitions hosted in the future.
🎁 Rewards:
In addition to all this, the top 3 overall winners of Trade Comp 1 will get NFTs as rewards too.
1st Place: Lil Pudgy https://opensea.io/assets/ethereum/0x524cab2ec69124574082676e6f654a18df49a048/20350
2nd Place: Y00t https://opensea.io/assets/ethereum/0xfd1b0b0dfa524e1fd42e7d51155a663c581bbd50/2730
3rd Place: Beanz https://opensea.io/assets/ethereum/0x306b1ea3ecdf94ab739f1910bbda052ed4a9f949/9530
Gear up for exciting rewards! Minimum points awarded to the top winners will be as follows:
- 🥇 1st Place: 1000 Points
- 🥈 2nd Place: 600 Points
- 🥉 3rd Place: 400 Points
- 4th-10th Places: 200 Points
- 11th-100th Places: 100 Points
Weekly leaders: 750 points divided in the top 5
- 🥇 1st Place: 250 Points
- 🥈 2nd Place: 200 Points
- 🥉 3rd Place: 150 Points
- 🏅4th: 100 Points
- 🏅5th: 50 Points
Daily Leader: 20 points
Your feedback is extremely valuable to us for continuously improving our platform. We encourage users to share feedback and report any bugs they might come across during the trading competition. You can report these bugs by raising a support ticket in our discord.
🚨 Competition Rules:
- The competition runs from January 20th to February 20th.
- Only users with whitelisted wallets will be eligible to participate in the testnet trading competition 1.
- Whitelisted wallets must register before they start trading on Nibbl.
- The trading competition will take place on the Base Sepolia testnet.
Check out our announcement tweet here!
Don’t miss out on this opportunity! Your points accumulate with each trade. Share your wins, have fun and watch your rank soar on the trading competition’s leaderboard. Let the trading games begin! 🚀
