Synthetix.Exchange Trading Competition Round 2
A summary of Round 1, and the details for Round 2!
After the success of our first Synthetix.Exchange trading competition, it’s time for Round 2, which you can join by filling out this form here! We had a fierce group of traders pitting off against each other in Round 1, and it was fascinating to follow the action in Discord the whole way through. In the end, one winner topped both the dollar gain and the percentage gain streams despite only being eligible for one, making a fantastic 170.80% profit from just three well-timed trades. We’ll be paying out the 4000 sUSD in total rewards this week to the following wallets:
$ gain winners:
% gain winners:
Now it’s time for Round 2! This time, the total prize pool will be 15,000 SNX. (EDIT: we previously indicated it would be sUSD. Apologies for any inconvenience) The prizes will be divided up as follows: First Place (4000 SNX), Second Place (2250 SNX), and Third Place (1250 SNX).
Apart from this change, it will run in quite a similar way, and we’ll be adding a leaderboard on Codepen again once we’ve got all the entries in. You can enter by filling out this form here. Minimum entry is 20 sUSD value for both streams.
The competition will run from Wednesday, June 5th, 12 noon (AEST) to Wednesday, June 19th, 12 noon (AEST). We won’t be accepting any late entries this time: the entry form will close when the competition begins, and we’ll have introduced the new iBTC and iETH by the time the competition begins.
The other major difference to Round 1 is that entrants will need to choose which stream they are joining: the dollar gain stream or the percentage gain stream. This is to prevent the scenario of last round, in which an individual won both streams and we had to decide which stream to place him in, given that we’d communicated a user couldn’t place in both.
Once again, throughout the competition’s duration, entrants will be unable to transfer, burn, or mint any Synths with that wallet. For entrants who are currently staking SNX, who wish to manage their collateralisation-ratio or claim any rewards, they would need to leave a certain amount of Synths in that wallet and send however much they wish to use in the competition into a new wallet for the competition. Unlike round 1, we will not be allowing entrants to lock in their gains and leave the competition so they can manage their collateralisation ratio.
Thanks again to everyone who participated in Round 1, and good luck to all who fill out this form to join Round 2! If you've got any more questions about how it works, come join the community in Discord.