Trade Your Way into Mainnet. Final Testnet Trading Contest on Merkle Trade
This is your last chance to join a testnet trading contest on Merkle Trade before our Aptos mainnet journey begins. Join and compete for the $1,000 USDC prize pool or find bugs and receive up to $2,500 USDC in bounties.
This particular contest is very special to us for a number of reasons:
- This is the final test of the product before releasing it to the public and we’re very excited
- We’ve just gone through the audit without any major or critical bug.
- The features and parameters are as close to the real mainnet softlaunch ones as possible
This is also a very good opportunity to collect XP points and get OG Roles which will start receiving platform-wide benefits once Merkle goes live on mainnet.
What are the conditions this time?
‘Trade your way into mainnet’ is a special trading event that is different from all the previous ones we’ve hosted. How is it different though?
Well, this time around we decided to make it a bit more fun and change the main winning criteria. A key winning criteria is going to be the account ROI/account net value at the end of the contest.
Here’s how the ROI going to be calculated:
ROI(%) = { ( Wallet Balance + total PnL + LP PnL ) / Faucet Amount } -1
You might have noticed that this time are several things you can do to increase your overall ROI:
- Trading and earning positive PnL. Standard and easy way of increasing your overall ROI. This time around though it’s important to pay attention to the fees to be paid.
- Liquidity provision. You can provide tUSDC into the pool and earn APY from that. Slow but steady. Note, full withdrawal of your liquidity takes up to 5 days.
- Funding fee arbitrage. You can arbitrage the long-short positions imbalance for different pairs effectively earning the fees for returning the skew to equilibrium. Read more about the funding fee and how it works here.
Rules of the ‘Trade your way into mainnet’ contest
- Starts at 12pm UTC on Monday, July 17 and ends at 12pm UTC on Friday, July 21 (5 days)
- All the previous balances and history are to be reset before the contest starts.
- The goal is to get the highest ROI percentage by the end of the contest
- The prize pool is 1,000 USDC divided between top-15 traders.
- As always you can track the progress on the leaderboard in the app (updated every minute)
- Any bugs found during the contest are a subject for up to $2,500 bug bounty. Make sure to report them here and be rewarded
- The winners as well as all the participants will be rewarded with Merkle XP points and OG roles which can later be used for platform benefits and more.
To participate in ‘Trade your way into mainnet’ you need to do the following:
- Have one of the Aptos wallets set up (read more here)
- Register in app (twitter account required)
- Open at least one trade.
If you are new to Merkle Trade and/or perp trading you can find more information in our docs.
Join the contest now and keep an eye on the announcements, mainnet is coming!
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