SMILEE TRADING COMPETITION—$80,000 in Rewards
Smilee is kicking things off with a private testnet trading competition. It doesn’t require real funds to compete, and you’ll get the first exclusive ability to use our products!
TL;DR
- Total rewards pool: $80,000
- Win up to: $18,200
- Round 1 WL spots: 420
- Total duration: 6 weeks
- Wen: March 1st
- Doesn’t require real funds to participate
About
Your objective is simple… generate the highest PnL ($) using Smilee.
Compete as a solo chad, or form/join a team to further strategize. A team needs to have a minimum of 10 people, and a maximum of 25.
Each week, you/your team need to decide how to best leverage our first two DVPs:
Real Yield
Strategy: Short Gamma (volatility), Long Delta (profit if token goes up).
Earn yield for providing DEX-like liquidity. This is the ideal strategy for low volatility market conditions.
Impermanent Gain
Strategy: Long gamma (volatility), Delta Neutral (doesn’t matter if token goes up or down as long is it moves a lot).
Turn Impermanent Loss into Impermanent Gain with up to 500x leverage.
You can think of Real Yield like standard LP for a given pair, and Impermanent Gain as the vehicle to profit on a given pair’s volatility.
Since Impermanent Gain functions on 1-week maturity, you/your team will have to decide how to best manage your capital every week.
You can learn more about our DVPs here.
We partnered with some of your favorite protocols in the Arbitrum ecosystem to include their tokens in our trading pairs and enter their official trading Teams:
- $🟦🟦🟦🟦/$USDC
- $🟦🟦🟦/$USDC
- $🟦🟦🟦/$USDC
- $🟦🟦🟦🟦/$USDC
- $🟦🟦🟦/$USDC
Be on the lookout in their communities for WL spots. 👀
Competition Structure
There will be two rounds in the competition, and participants in Round 1 will have a major advantage for Round 2:
- Round 1 (4 weeks): 420 WL spots
- Round 2 (2 weeks): 🟦🟦🟦 WL spots
You’ll be given an equal amount of testnet tokens at the start of Round 1, and your ending balance carries over to Round 2 giving you an advantage over the newcomers.
Winners are crowned at the end of Round 2.
Rewards
There’s two reward brackets:
1. Individual Performance.
2. Team Performance.
Forming/joining a team doesn’t give up your eligibility for the “Individual Rewards” bracket.
Winners will be judged by:
- Individual: Overall PnL ($)
- Team: Average PnL ($) of top 3 traders.
The majority of the rewards are given in our forthcoming token ($SMILEE) valued at TGE. 🤌
🚨 How to Participate?
You’ll need to secure one of the limited 420 WL spots indicated by the “SmileeList” role in our Discord.
- If you have the “OG” role in our Discord: you’ve already made it.
- If you’re already in our Discord: you’re early.
- If you’re not in our Discord yet: keep an eye on Twitter (turn on tweet notifications to avoid being a missooor).
😃 50 random people who RT the pinned announcement on Twitter get Discord access 😃
