⚔️Battle Royale Competition
Last updated
Last updated
Crypto’s #1 social trading app is hosting the biggest competition of 2024, with a whopping 25,000,000 STFX prize pool available for participants to compete over.
The Battle Royale prize pool is made up of 3.5% of the total $STFX total token supply: 2.5% reserved for Managers, 1% reserved for Investors.
Participants were prompted to share their reflinks, and rewarded each time a new user registered to STFX under their unique code. Participants also received points by broadcasting information related to the Battle Royale competition via their social channels.
Points accumulated from Phase 1 will carry over into Phase 2, as discussed below.
The STFX Battle Royale uses a points leaderboard system to determine a user’s placement within the competition. There are two divisions- Managers and Investors- each with their own unique leaderboards and scoring methodology. Both systems are outlined below.
The managerial scoring algorithm is comprised from the following variables:
P represents the lifetime PnL of the manager throughout the Battle Royale competition. P is 1:1 correlated to the manager’s recorded profits.
Example: If a manager has $10,000 of PnL at the conclusion of the competition, then P = 10,000
P establishes the foundation of the manager's score. However, managers have the ability to boost their P value up to an additional 50%. They can achieve this by executing on the 4 following variables: Subscriptions (S), ROI (R), Tradecount (T), and Phase 1 Accumulation (Pw)
⦁ S represents subscriptions. We apply a quota of 50 subscribers, and a minimum subscription of $50 in order for the subscription to count towards S. Note that this $50 placeholder is a placeholder value that could be subject to change.
Using the above, we can quantify T as:
S = P * (a / 50) * 25%
where a = number of manager’s subscribers who qualify above the $50 minimum threshold
⦁ T represents the number of trades deployed by the manager. We rank the list of managers by number of trades deployed. We then categorize them into the following buckets
Using the above, we can quantify T as:
T = P * T-Multiplier * 35%
⦁ R represents the trader’s ROI. We compute it by calculating the ROI for each individual vault that the manager deploys, and then taking the average of all those values
Avg ROI = AVG(ROI STV #1 , ROI STV #2, ROI STV #3....ROI STV #N)
Next, similar to T, we rank these traders by Avg ROI, and bucket them into the following categories.
Using the above, we can quantify R as:
R = P * R-Multiplier* 35%
⦁ Pw represents the PWA score. Similar to the above, we rank users by PWA score, and bucket them into different brackets. The difference here is that we are ranking all users (Investors and Managers) who have accumulated PWA score, not just the Managers exclusively.
What this means is that there is no guarantee that any Managers end up in the top 10%, 10-20% etc. as these could be dominated exclusively by Investors.
Using the above, we can quantify Pw as:
Pw = P * Pw-Multiplier * 5%
Next, we summate the 5 above variables to compute the Total Score
Lastly, if the user is staking $STFX, we will add another boost to Total Score to compute Final Score.
Applying the staking boost yields us the Manager’s Final Score, which can be quantified as:
The Investor scoring algorithm is composed of 2 primary variables, PnL and Time.
P represents the lifetime PnL that the investor has made from the manager’s performance throughout the Battle Royale competition. P is 1:1 correlated to the recorded profits.
Example: If a manager has made the investor $1,000 of PnL at the conclusion of the competition, then P = 1,000
P establishes the foundation of the manager's score. However, Investors have the ability to boost their P value up to an additional 33% via the time boost.
T is the amount of time that the Investor was subscribed.
T = P * (A / B) * 33%
Where:
A = The number of days the Investor was subscribed to the manager
B = The number of days that the manager was in the active window. We define the active window as the moment the Manager deploys their first vault.
We summate the 2 variables above to compute the Investor’s Total Score:
Total Score = Sum of points (T, P)
Lastly, if the Investor is staking $STFX, we will add another boost to Total Score to compute Final Score
Applying the staking boost yields us the Investor’s Final Score, which can be quantified as:
Final Score = Total Score * (1 + Multiplier Effect)
Top 25 Managers with the highest Battle Royale score will be in the money for the 25,000,000 $STFX prize pool.
1
2,833,333.33
2
2,666,666.67
3
2,333,333.33
4
2,000,000.00
5
1,833,333.33
6
916,666.67
7
916,666.67
8
916,666.67
9
916,666.67
10
916,666.67
11
750,000.00
12
750,000.00
13
750,000.00
14
750,000.00
15
750,000.00
16
583,333.33
17
583,333.33
18
583,333.33
19
583,333.33
20
583,333.33
21
416,666.67
22
416,666.67
23
416,666.67
24
416,666.67
25
416,666.67
For a Manager to receive the full prize associated with their leaderboard position, the Manager will be subject to a PnL quota. Since a Manager’s PnL on the exchange is quoted in USD terms, while rewards for the leaderboard are quoted in $STFX, a volatile asset, this poses a bit of a challenge when assigning a performance quota.
Ultimately, we want the rewards payout to have some functional relationship to the PnL generated, not just be some arbitrarily derived value. In many ways, the rewards payouts can be viewed as a variant of CAC (customer acquisition cost), where each $STFX token paid out to users corresponds to some amount of value brought in to the protocol (in this case, profits paid out to platform users through the Manager’s trading activities).
Operating off this mindset, we coined the concept of PAC (profit acquisition cost). How much should the platform aim to pay in token rewards for each $1 of profit brought into the system? Ultimately, we felt a $0.50/$1 PAC ratio seemed appropriate and structured around that approach. But the volatility issue still remained: the numerator of the PAC formula is quoted in volatile $STFX , while the denominator in non-volatile USD, making the overall value dynamic. If the token price were to massively appreciate, the PAC could go to $10/$1 for example. Conversely, if the token price were to massively depreciate, the PAC could go to $0.1/$1 ratio.
At the end of the competition, Managers will be ranked according to their Battle Royale competition score.
If a Manager secures a top 25 leaderboard slot, and successfully achieves the quota PnL associated with that position, then they will receive the full $STFX reward for that slot.
If a Manager secures a top 25 leaderboard slot, but is unsuccessful in achieving the quota PnL associated with that position, then they will receive a pro-rated $STFX reward for that slot.
The pro-rated reward can be expressed as:
[(Manager PnL / Quota PnL) * Max Slot Reward]
Example 1:
⦁ Alice places 11th on the leaderboard
⦁ 11th place reward = 750,000 $STFX tokens
⦁ Alice’s realized PnL at end of Battle Royale = $65,000
⦁ 11th place Quota PnL = $60,000
⦁ Because Alice’s realized PnL > Quota PnL, Alice receives the full 750,000 $STFX reward
Example 2:
⦁ Bob places 19th on the leaderboard
⦁ 19th place reward = 583,333.33 $STFX tokens
⦁ Bob’s realized PnL at end of Battle Royale = $25,000
⦁ 19th place Quota PnL = $ 46,666.67
⦁ Because Bob’s realized PnL < Quota PnL, Bob gets a pro-rated reward, not the full amount
⦁ Reward = [ ($25,000 / $46,666.67) * 583,333.33 ] = 312,500 $STFX
Investors that are subscribed to the top 25 managers at the conclusion of the Battle Royale competition will stand to win their share of a 10,000,000 $STFX prize pool.
1
666,666.67
2
644,444.44
3
622,222.22
4
600,000.00
5
577,777.78
6
555,555.56
7
533,333.33
8
511,111.11
9
488,888.89
10
466,666.67
11
444,444.44
12
422,222.22
13
400,000.00
14
377,777.78
15
355,555.56
16
333,333.33
17
311,111.11
18
288,888.89
19
266,666.67
20
244,444.44
21
222,222.22
22
200,000.00
23
177,777.78
24
155,555.56
25
133,333.33
An Investor’s allocation can be expressed as:
[ (Investor score / Summed score of all the manager’s subscribers) * $STFX reward for that slot]
Example:
⦁ Alice is subscribed to Manager Satoshi, who finishes 1st in the Manager rankings
⦁ Alice’s Final Score on her subscription to Manager Satoshi totals out to 1,000 points at the conclusion of Battle Royale
⦁ The summed points of all of Satoshi’s collective subscribers, (Investor 1, Investor 2 …Investor N) = 10,000 points.
⦁ Alice’s reward claims = 1,000/ 10,000 = 10% of the pool
⦁ 1st place reward pool = 666,666.67 $STFX
⦁ Alice’s reward = 10% * 666,666.67 = 66,666.67 $STFX
The Battle Royale is a 12 month competition, with competitors competing up until June 2025.
There will be mini-competitions and prizes sprinkled in throughout the Battle Royale, such as luxury watches, blue-chip NFTs, etc. – all in addition to the grand prize pool.
