Introducing: The Perpfect Game — Perp v2 Testnet Trading Competition

Perpetual Protocol
Oct 25 · 4 min read

WEN V2 SERS?
V2 testnet is here!

The Perpfect Game, the trading competition for Perp v2 testnet, is a different kind of game. The addresses that can join the game are pre-selected and put into 10 different teams based on the value of the tokens each address holds on 10/22 (Sat.) at 21:00 (UTC+8). You can check the full trader list here.

To maximize your prize winnings, not only do you need to compete with other participants, but you should also recruit more competition participants. Curious about how it works? Check the rules below!

Prizes

The entire prize pool is 200,000 PERP, over $3M at the time of writing!

Yes, you read that right. $3M. However, there is a catch: the prize pool amount will be gradually unlocked as more people join the game. The unlock thresholds are shown below:

< 500 participants* = 50,000 PERP (~$750K, 25% unlocked)
> 1,000 participants = 100,000 PERP (~$1.5M ,50% unlocked)
> 2,500 participants = 150,000 PERP (~$2.25M 75% unlocked)
> 5,000 participants = 200,000 PERP (~$3M, 100% unlocked)

So, how do participants share the prize pool?

In The Perpfect Game, you get tickets when you achieve certain goals. And at the end of the competition, you’re entitled to a share of the prize pool proportional to the number of tickets you earned.

The following are the goals and the tickets per goal for The Perpfect Game:

  • Made at least one trade: 1 ticket per person
  • Become a maker and have collected at least 500 USDC tx fees: 2 tickets per person
  • Participants of the first team (ranked by adjusted total PnL***) : 3 tickets per person
  • Participants of the second team (ranked by adjusted total PnL): 2 tickets per person
  • Participants of the third team (ranked by adjusted total PnL): 1 ticket per person
  • Top 5 participants ranked by total PnL** within the top three teams respectively: 14 tickets per person
  • Top 5 participants within the no. 4~10 team: 6 tickets per person
  • Report previously unknown bugs: 1 ticket per new bug (FCFS)

You can check your tickets and potential rewards on your trader page.

Note: Please be aware that the numbers on the trader page are not finalized until the game is concluded. The prizes won’t be distributed until the launch of Perp v2 on Arbitrum mainnet. You need to generate $2,500 in trading volume per ticket on Perp v2 mainnet to claim your prizes.

Duration

The game will start on 10/26 (Tue.) at 2:00 pm (UTC) and end on 11/2 (Tue.) at 2:00 pm (UTC). Check the starting time in your timezone here.

It’s recommended that you claim your test tokens (step 2 in the following) before the start of the game.

How to join the competition

Step 1. Check which team you’re on

To start, go to the leaderboard to check which team you’re on by putting your address in the search bar. You can also search for your address on the full trader list.

You can see your team’s banner on your trader page and you can encourage more teammates to join the competition by sharing the banner on Twitter.

Step 2. Get test tokens

After finding out which team you’re on, go to testnet faucet to get 10,000 test USDC and 0.005 Arbitrum Rinkeby ETH to trade with.

During high traffic, it might take up to 30 seconds for your test tokens to arrive. Please be patient.

Step 3. Start trading

Once you’ve successfully received your test tokens, you’re all set! You can now go to https://testnet.perp.exchange/ to start trading!

One thing worth pointing out is that the testnet UI will block certain jurisdictions during the trading competition. This is because trading on Perp v2 mainnet in the future is a requirement to claim your prizes. Once the competition ends, you’ll be able to freely access the testnet UI.

Feel free to report any bugs you encounter or leave any feedback in the #feedback channel of our Discord.

If you’re still confused about the rules and don’t know where to start, we’ll be having a live workshop on 10/26 (Tue.) at 2:30 PM (UTC) to walk you through everything you need to know about The Perpfect Game! You can add this event to your calendar here.

Glossary

  1. A ‘participant’ is defined as someone who has made at least one trade in the game.
  2. The ‘total PnL’ is the combination of realized PnL (tx fees included), unrealized PnL, maker fees, and funding payments.
  3. The ‘adjusted total PnL’ is defined as the total PnL of a team divided by the ratio between the number of traders in that team and the number of traders in the largest team. The reason why we use this metric is because not all teams have the same number of traders.

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