The first Lambo campaign, launched last year, showed great results, and the Waves.Exchange community liked the contest a lot. As Lambo Investments passed the test of time and users still invest in Lambo to get up to 60% APY, we’ve decided to run one more round of Lambo Giveaway! Rules are the same: you invest in Lambo, and we’ll give away a prize. But this time, you should hold your investment for only 3 months.
Anyone who invests even a small amount of USDT or USDC in the Lambo Investments product, will have a chance to win. The product allows you to earn about 60% per annum in USDT or USDC by investing in an algorithmic trading strategy with a moderate risk.
What is Lambo Investments?
Lambo Investments is an algo-trading investment product launched by Waves.Exchange. A user sends USDT or USDC to a smart contract in exchange for USDTLAMBO or USDCLAMBO tokens, whose amount corresponds to their share in the algorithmic trading pool. These funds are used by trading bots on several cryptocurrency exchanges. Trading bots regularly record the results of a trading day. In the case of fixing profits, the value of the USDTLAMBO or USDCLAMBO token increases. There is also a risk of a token drawdown, but, according to strategy settings, it cannot exceed 10% of the high-water mark. At the same time the profitability of this trading strategy can be up to 63.7% per annum.
More information on how to invest in Lambo can be found on our blog or in the FAQ on our website.
Rules for participation
To participate in the giveaway, you do not need to go through any extra registration process or KYC. Everyone who invests USDT or USDC in the Lambo Investments product and follows the official Waves.Exchange Twitter automatically participates in the contest.
The contest starts on May 30, 2022, at the block height of 3,140,172 and will last for 129,600 blocks, which roughly corresponds to 90 days.
In order to participate in the contest, the average user balance at the block height of 3,269,772 must be at least 1 USDTLAMBO or 1 USDCLAMBO.
1 USDTLAMBO or 1 USDCLAMBO received and retained in a user’s account by the end of the contest is a conditional ticket. The larger a user’s average balance and the earlier USDTLAMBO or USDCLAMBO tokens are received, the higher the chance of winning.
The contest’s new period begins on September 1, 2022, at a block height of 3,275,700 and will last for 129,600 blocks, which roughly corresponds to 90 days.
A user’s average balance after a 90 day period has to be at least 1 USDTLAMBO or 1 USDCLAMBO.
1 USDTLAMBO or 1 USDCLAMBO received and held by a user is basically a ticket for participation in the contest. The higher the average balance and the earlier their USDTLAMBO or USDCLAMBO tokens were purchased, the higher chances of winning.
A user’s average balance in a new period is added to their average balance in the previous period in cases when the same address was used for both investments.
How the average balance is calculated
A minimum balance of USDTLAMBO and USDCLAMBO held by a user will be taken into account starting from May 30, 2022. After 90 days, the minimum average user balance for this period will be calculated. The minimum average balance is the sum of the minimum user balances for each day of the contest from 00:00 UTC to 23:59 UTC, divided by the number of contest days.
Average balance calculation formula: (minDayBalance1 + minDayBalance2 + minDayBalance3 + …) / 90 (daysCount).
An important factor influencing users’ chances of winning is not only the amount of their investments, but also the time when they were made. Consider this example: Alice, Bob, and Carl invested in Lambo the equivalent of 100 USDTLAMBO each but did so at different times. Alice obtained USDTLAMBO tokens on May 30, Bob on June 15, and Carl on August 29. Under the average balance calculation formula, after a 90 day period, Alice’s average balance will be 100 USDTLAMBO; Bob’s average balance will be 50 USDTLAMBO, and Carl’s 1 USDTLAMBO.
Thus, Alice who entered the contest earlier, will have twice the chance of winning a Lambo as Bob. Carl’s chance will be very small.
The minimum balance of USDCLAMBO or USDTLAMBO token holders in the new period will be calculated as of September 1, 2022. After 90 days, the user’s minimum average balance for that period will be calculated. The minimum average balance is the sum of the user’s minimum balances for each of the contest’s days, from 00:00 UTC to 23:59 UTC, divided by the number of the contest’s days. The calculation formula for the average balance: (minDayBalance1 + minDayBalance2 + minDayBalance3 + …) / 90 (daysCount).
Step-by-step guide for participation
- Log in to your Waves.Exchange account or create a new one if you don’t have it yet. It takes just a few minutes.
- Go to the Lambo investments page > USDT or USDC in the Investments section.
- Deposit USDT or USDC to your wallet. Push the “Deposit” button in a small window displaying the USDT or USDC balance. You can deposit USDT from BSC, Ethereum, Polygon or Waves networks.
- Push the “Invest” button and specify the amount. The minimum amount for investing is 10 USDT or USDC. Read the rules and risks and push the “Invest” button once again. Confirm the transaction. Please mind a transaction fee of 0.005 WAVES. The transaction fee can be paid in USDT, USDC or ETH as well.
- After investing, a corresponding amount of USDTLAMBO or USDCLAMBO tokens will be allocated for you. Tokens are locked in the smart contract address every day from 11 am UTC to 12 pm UTC.
- Push the “Get USDTLAMBO” or “Get USDCLAMBO” button to get tokens from the smart contract to your wallet. Note: If you do not get LAMBO tokens from the contract, your address will not participate in the contest.
- Follow the official Waves.Exchange Twitter.
- To participate in the contest, the average balance of your USDTLAMBO tokens must be at least 1 USDTLAMBO or USDCLAMBO in 90 days.
Please note that only new investments take part in the contest!
If you withdraw your tokens from Lambo Investments, send them to another wallet and make an investment one more time, such investment won’t be taken into account.
If you withdraw your tokens from Lambo Investments and invest one more time, only positive difference between the withdrawal and deposit amounts will be taken into account.
How the winner will be determined
A list of participants will be determined on the day following the recording of the trading day results for August 30. The number of the participant’s mentions on the list corresponds to their average balance throughout the entire period of the contest. The winners will be chosen using the Waves Randomizer dApp — a random number generator. The application will randomly determine the winner’s address. All computational data is recorded on the blockchain, which guarantees the transparency of the count.
The winner’s address will be published on the official Twitter and other Waves.Exchange channels no later than September 5. The owners of the winning addresses must be subscribed to the official Waves.Exchange Twitter. If this requirement is not met, a new address will be generated by the Randomizer application.
The winner will be offered 240,000 USDN. The winner will need to contact the Waves.Exchange team via Twitter. The winner will need to be identified by making a test transaction from the winning address to the address proposed by the Waves.Exchange team. If the owner of the winning address does not get in touch within two weeks of the moment of the winner announcement, the Randomizer dApp will generate a new winner.
Good luck in getting your Lambo!
The contest’s participant list will be formed on the next day after the calculation of trading day results for November 30, 2022. A user’s number of mentions on the list corresponds to their average balance for the contest’s two periods.
The winner will be determined only if the total amount of investment for the two periods reaches 20 mln USD. If that amount is not reached, Waves.Exchange reserves the right to reconsider the contest’s period.