PLOT Head Alpha Challenge — Week 2

PlotX
PlotX
Sep 8 · 3 min read
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We’re thrilled to see the overwhelming participation by the community in the PLOT Head Alpha Challenge Week 1. To keep the party going, we are announcing the PLOT Head Alpha Challenge — Week 2!

It’s now time to start levelling up your prediction game, ’cause the second week is here with even more exciting rewards.

This time it’s going to be more fun and rewarding as we will have daily winners along with weekly winners!

Eligibility Criteria

You need to have filled the PHAB registration form to qualify for the challenge: https://forms.gle/BhcmiJN7YK3aSqra7

Duration

Start Time: 12 pm UTC, 8 Sep ‘20

End Time: 12 pm UTC, 15 Sep ‘20

Rewards

The top 3 most profitable accounts every day will win from a reward pool of $250. The individual rewards distribution is as follows:

Daily Rewards:

Rank 1 — $20

Rank 2 — $10

Rank 3 — $5

And the top 10 most profitable accounts over the week will win from a reward pool of $300. The individual rewards distribution is as follows:

Weekly Rewards:

Rank 1 — $100

Rank 2 — $80

Rank 3 — $50

Rank 4–10 — $10

Hustle Reward — There will also be a bonus $50 reward for the ETH address which has the most no. of transactions during the week

Net Profits Computation

Most profitable accounts refer to the accounts with the highest net profits.

To compute the net profits, we will use the following formula:

Net Profit = Total Return — Total Staked

Note: Total Return is the sum of all the ETH you can claim once the market settles for all your winning positions during the week. This includes the ETH you have staked (played with) and the rewards you have earned for all your winning positions. Total Staked is the sum of all the ETH you have staked (played with) for all the predictions during the week.

Example: You make two predictions this week on PlotX Alpha, and let’s say that one of your predictions wins and the other one loses. The winning prediction where you play with (stake) 1 ETH, gives you a reward of 0.5 ETH from the reward pool, and thus your return amount will be 1.5 ETH. For the other prediction, you play with 1 ETH with a 1x leverage, and you lose 0.2 ETH, thus your total return amount will be 0.8 ETH.

Now, your net profits will be = (1.5 ETH + 0.8 ETH) — (1 ETH + 1 ETH) = 0.3 ETH.

Transparency

To ensure utmost transparency, we’ll update a publicly accessible Google Sheet every day throughout the week.

The sheet link: https://docs.google.com/spreadsheets/d/1-nOURvm_QugCJ54RgXm1RV-6k___lTHrJKVDAYV8l8s/edit?usp=sharing

The sheet will contain all transactions that have taken place since the start of the challenge along with a section dedicated to transactions on any particular day. Participants can see their performance and the current leaders on the sheet itself.

Reward Distribution

Both the daily and weekly rewards will be distributed to the winning ETH addresses on 16th of September, 2020 in USDC.

And that’s it!

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Written by

PlotX

Gamified DeFi Prediction Markets | Join the tribe https://discord.gg/gN5dvCh | Telegram community: t.me/plotx_official

PlotX

PlotX

Non-Custodial Prediction Markets for Crypto Traders | Join the tribe https://discord.gg/gN5dvCh | Telegram community: t.me/plotx_official

PlotX

Written by

PlotX

Gamified DeFi Prediction Markets | Join the tribe https://discord.gg/gN5dvCh | Telegram community: t.me/plotx_official

PlotX

PlotX

Non-Custodial Prediction Markets for Crypto Traders | Join the tribe https://discord.gg/gN5dvCh | Telegram community: t.me/plotx_official

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