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Join Spin x Stader Spot Trading Tournament to Win a Stake of 600 NEAR

Aloha, Tradooors! We’re back with a new trading tournament teaser, and this time we invite you to join a NearX trading tournament on Spin that starts on October 18th, 15:00 UTC and will end on October 25th, 15:00 UTC (1 week). The teams of Spin and Stader have allocated 600 NEAR as a prize pool for this tournament, and to win a stake of it, you will need to trade much and actively! Traditionally, we will have some Boosters that increase your final trading score, so read on to learn all the details ;)

How to win a reward in the NearX trading tournament?

Nothing difficult, you just need to compete against other traders in generating the largest trading volume on Spin, for the NEARX/USDC trading pair. To do this, you can both use the Spin instant swaps feature or trade through our CEX-similar trading terminal. Your daily trading activity and Freaky Elves NFT ownership will also give you an advantage:

  • Activity booster — if you make at least 1 trade per day, your final trading score is increased by 0.05 each day. This way, you can increase your final trading score by 0.35 and thus reach a better position on the leaderboard!
    Note that a trade is not the same as an order; For it to be counted as a trade, the order must be filled (at least partially).
  • Freaky Elves booster — when the contest ends (on October 25, 15:00 UTC) we will take a snapshot of Freaky Elves NFT holders. They will also enjoy a better final score — it will be increased by 0.15.

During the event, the leaderboard and final trading score will be regularly updated based on volumes, trader activity, and NFT ownership. The leaderboard link will be publicly available when the event starts.

This way, the formula for calculating user’s final trading score is:

Final score = Total volume* (1+Activity booster+Freaky Elves booster)

Note that having an NFT or trading daily is not obligatory to join the event! Boosters simply help you reach a better position on the leaderboard and increase your chances to win larger prizes.

What are the rewards?

If you succeed to get into the Top-100 of the final trading score by October 25, 15:00 UTC, you will be able to win a stake of 600 NEAR allocated for this trading tournament! The rewards distribution will go as follows:

Eager to join? Let’s first sum it up!

Long story short, to be able to get the best prizes in the Stader x Spin trading tournament, you need to:

  • Trade NearX/USDC actively (better do that on a daily basis to increase your Activity booster);
  • Have at least one Freaky Elves NFT when the event ends if you want to increase your final trading score;
  • Check the trading leaderboard regularly to see your position on it.

Good luck, tradooors!

And a short FAQ as usual!

  1. Are there any restrictions in terms of markets? Can I swap to generate volumes?
    This time, only the NearX/USDC market participates in the tournament. You can also use our swap feature ofc to trade $NearX, so choose your strategy and LFG!
  2. Will I get a Freaky Elves booster if I buy an NFT after the event starts?
    Yes, you can buy or sell NFTs without any restrictions during the event. Ownership changes will be displayed on the leaderboard and updated every hour. However, the final score and result of the tournament will only depend on the fact of owning a Freaky Elves NFT on October 25, 15:00 UTC, when the event ends.
  3. When will you distribute the rewards after the tournament ends?
    The rewards for the event will be distributed before October 31, likely before that date. We will notify the community when the rewards are distributed!

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Spin is a 360° decentralized trading platform on NEAR Protocol that enables Spot, Perpetual contracts, and Options trading.