Perpetual Protocol 1st Mainnet Trading Competition

Perpetual Protocol

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Dec 24, 2020 · 2 min read

📣 Back by popular demand, we are holding our first Mainnet Trading Competition!

📅 Competition Period

Dec 24 14:00 UTC — Dec 31 14:00 UTC

📝 Where to register

Go to comp.perp.exchange to register.

• Accounts (ie wallet addresses) will appear on our public leaderboard — create a new account before trading.
• Trades settle in USDC, so please prepare USDC for trading.
• Position size caps: 20 ETH; 0.5 BTC

⚠️ Note that hardware wallets (e.g. Ledger, Trezor, etc.) are currently not supported by Perpetual Protocol due to our use of xDai and meta transactions.

We at working to implement solutions to this. Do not attempt to deposit funds if your Metamask account is connected to a hardware wallet.

🥅 How to win

There are three ways to win.

1. PnL Rank (net profit)
   a. The top 30 traders ranked by PnL during the competition period will win prizes.
   b. The trader with the worst PnL will win the Consolation prize.
2. Volume Pool
   The 10 traders with the highest trading volume (USDC) will share a prize pool according to their weighted trading volume.
   Reward Calculation: Reward for top 10 traders by vol. = (Individual trading volume / total trading volume of top 10 traders) * 10000 PERP.
3. Win Ratio
   Traders who make 10 or more trades during the trading competition are eligible to win the Win Ratio Prize.
   - The trader who closes the most positive-PnL trades vs their total trades will win.
   - Ties will be settled by no. of trades (higher no. of trades wins).
   - Prize will be split if there is still a tie.
   Win ratio calculation per trader: (Trades with positive realized PnL) / (Total trades)

🏅 Prizes

+------------------------------+-------------+-----------+
|           PnL Rank           | Volume Pool | Win Ratio |
+------------------------------+-------------+-----------+
| 1st prize: 6000 PERP         | 10000 PERP  | 1000 PERP |
| 2nd prize: 3000 PERP         |             |           |
| 3rd prize: 2000 PERP         |             |           |
| 4-10th prize: 500 PERP each  |             |           |
| 11-20th prize: 300 PERP each |             |           |
| 21-30th prize: 100 PERP each |             |           |
| Consolation prize: 500 PERP  |             |           |
+------------------------------+-------------+-----------+*Prizes over 1000 PERP will be vested linearly for 6 months

🛃 Rules

• You must use a new account that has not traded on our platform before.
• You must adhere to our general Terms of Service if you are using our interface at perp.exchange.
• Please refer to the list of restricted countries — do not attempt to trade via our web interface if you are located in or are a national of a restricted country.
• Perpetual Protocol reserves the right to change the competition period if technical reasons require.