Position DEX 2.0: Incentivized Testnet

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Position Exchange

5 min readDec 6, 2022

To kick off the Incentivized Testnet program for DEX 2.0, which will be held at 12:00 UTC from December 7 to December 28, Position Exchange wants to spread the joy with a prize pool of up to $20,000 (in POSI).

The reward will be distributed at the end of the program, from December 30 to January 12.

List of activities

The Incentivized Testnet program consists of 4 activities regarding Trading competition, Bug hunting, Video creation, and Social media referral specified as follows:

Trading Competition

The total prize pool is $4,000 for the trading competition. To join this program, participants have to trade Position Exchange Spot Trading/Swap. Each participant will be granted 10k BUSDT on the Testnet to start trading/swap.

How to claim the BUSDT Test?

Navigate to Beta Position Exchange
Click “Connect your wallet” -> Choose the BNB Smart Chain Testnet

3. Choose your Wallet

4. Scroll a bit, you should see the BUSDT claimable, just click “Claim”

Note: Please make sure that your wallet has enough BNB Test before you attempt to claim the BUSDT.

Then now you can use BUSDT to Trade, Swap or Add Liquidity in order to get ranked on the leaderboards.

There are two leaderboards for the trading competition:

Trading Leaderboard

Rules:

Base on profit and loss ratio (PnL)
During the competition, the leaderboard will be continuously updated in real-time, based on the player’s PnL in BUSDT.
At the end of the competition, the participant’s rank will depend on the PnL converted to in BUSDT. This means that before the end of the competition, players must convert all assets on the testnet into BUSDT, as BUSDT is the only asset recognized on the leaderboard. After the competition, the player’s rank will be converted into points.
The Profit & Loss (PnL) for each user is calculated by taking their latest BUSDT balance + fees earned from liquidity + total liquidity (calculated in BUSDT) — their initial balance (10k BUSDT)
PnL will be calculated every 10 minutes.

Point calculation:

1st place: 50 points
2nd place: 35 points
3rd place: 30 points
4–50: 15 points
50–150: 10 points
100–300: 5 points
300+: 2 points

Reward:

The winners are the ones ranking in the top 300 of the leaderboard, and get a share of $2000.

The reward will be divided based on winners’ rankings as follows:

1st place: $300
2nd place: $150
3rd place: $100
4–300: $5 each

Liquidity Leaderboard

Rules:

Participants will be ranked on this leaderboard based on the most recent liquidity volumes. The higher your liquidity volume, the higher you’ll rank on the leaderboard. Your total liquidity volume will be calculated across all BUSDT (BUSD Test) pairs. User’s liquidity will be synced every ~10 minutes.

Point calculation:

1st place: 50 points
2nd place: 35 points
3rd place: 30 points
4–50: 15 points
50–150: 10 points
100–300: 5 points
300+: 2 points

Bonus

Participants will receive 2 points for the first time creating a new liquidity pair.

Reward:

The winners are the ones ranking in the top 300 of the leaderboard, and get a share of $2000.

The reward will be divided based on winners’ rankings as follows:

1st place: $300
2nd place: $150
3rd place: $100
4–300: $5 each

Bug hunting

The total prize pool is $12,000.

Bug reporting process

Find bugs on Position DEX 2.0 Testnet and report them by filling in google form with their portraying image/video as evidence.
Our Quality Control team checks and confirms if they are valid bugs.
If the bug is valid, the reporter will receive the reward based on the criteria specified below.

Bug classification criteria

Note

In cases of late reporting or if the bug was fixed before reporting: the bug will be considered invalid.
In cases where users report a bug that has been found, no reward will be given.
The list of errors will be published on the Position Exchange Testnet and on other official channels.
Follow Position Exchange’s official channels to get updated.
Position Exchange reserves the right to change these terms and conditions at any time without prior notice.

Video creation

The total prize pool is $3,000.
Create a video reviewing/sharing about Position DEX and post it on your social media channels with hashtag #PositionDEX #TheTrueDEX (Video length: from a minimum of 1 minute to a maximum of 4 minutes)
Fill out the Google form with the video link from your social media channels.

Winners are those who have videos in the top 200 with the most likes, shares, and comments. They will be rewarded based on their ranking as follows:

1st place: $500
2nd place: $300
3rd place: $200
4th-200th: $10 each

Note:

A video is valid when:

Publicly uploaded on social networks along with hashtag #PositionDEX #TheTrueDEX
Have a minimum of 20 views and a minimum of 20 interactions (interactions = likes + shares + comments).

Social Media Referral

The total prize pool is $1,000 for the social media referral. In this activity, participants have to refer their friends to join the campaign on social media channels.

200 participants with the most referees joining the Incentivized campaign will be rewarded based on their ranking as follows:

1st place: $50
2nd place: $30
3rd place: $20
4–200: $5 each