Qilin Protocol
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Qilin Protocol

An Overview of V2 Testnet Trading Competition

Qilin Protocol is proud to announce that we’ve successfully closed Trading Competition on Rinkeby Testnet. As the most important part of Qilin V2’s Public Testnet, the competition has lasted for 3 weeks, and it makes Qilin platform thrive with activity. We are grateful for the community’s incredible support during the whole period.

What’s the final result?

As of the end of the competition, the final result is as follows:

Amount of Transactions: 5500+

Amount of Unique Addressed: 840+

For more details, you can refer to the V2 contract scanner: https://rinkeby.etherscan.io/address/0x2122dbA279615524CcC5E33bD655e11bd99aF070

As we have emphasized before, we count overall ROI as the only criterion for the ranking of this trading competition, so the list of winners is as follows:

Congrats to all top 20 overall ROI winners 🎉 Rewards will bedistributed shortly. Please keep an eye on our Twitter @QilinProtocol.

How about Bug Bounty?

We appreciate the efforts and thoroughness of every tester in helping us out with their valuable feedback. We received over 80 feedback forms, covering bug reports and some great suggestions. We are accordingly working on improving the testnet for an enhanced user experience and better product performance. By now, we have fixed most of the issues reported, such as page not fitting to screen, unclear funding rate description, top menu not working, etc. The remaining issues will be resolved before the V2 mainnet launch. Join our TG or Discord to get the latest updates.

We believe that suggestions and feedback from community play a vital role in product improvement, so we will not close Bug Bounty now, it will last throughout the v2 cycle. Your suggestions and feedback are always welcomed ❤️

Join Bug Bounty: https://forms.gle/zepaL8L2Dddebbsa6

What V2 is packing:

Qilin V2 offers several “first-of-its-kind” features in the market period. Each one is designed to realize the goal of buiding a scalable decentralized derivative market for all crypto assets. Our primary focus over the past few months has been on building the peer-to-pool structure to enable single-asset liquidity and on LP risk mitigation. Here’s what we have come up with

  • Permissionless perpetual market creation:

Before Qilin, permissionless perpetual market launches were not possible in DeFi. Qilin V2 offers single-margin perpetual pool launches for any asset with oracle access (Uniswap V2, V3 & Sushiswap for now). Whatever asset you have in your wallet, you can create a perpetual market for it.

This disrupts the conventional reliance on market makers and protocol team to launch new markets and empowers communities to create market just like in a spot AMM.

  • Risk-adjusted Funding Rate for Liquidity provider protection

In addition to receiving trading fees as rewards, LPs on Qilin receive funding rate payments on a per-block basis. As Qilin has done away with market makers and uses oracles for index, we have achieved funding rate for LP protection and no longer just a mechanism to keep the mark price consistent with the index.

This provides superior LP protection in volatile market conditions in which longs or shorts outweigh the other.

What to expect:

  • A re-branding campaign is coming up soon for our V2 mainnet launch, followed by an NFT airdrop! (Rules to be released soon)
  • V2.1 launch in the next few months for a tranche-structured liquidity pool with stable and high yield tranches
  • Community front end: different ecosystems and communities can build their own front end based on Qilin’s open-source front end base.

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Decentralized risk-optimizing protocol for derivatives trading

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Qilin

Qilin

Decentralized risk-optimizing protocol for derivatives trading.

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