- 1.Alpha Mainnet Competition timeline, rules and prizes
- 2.Final results and statistics
1. Alpha Mainnet Competition timeline, rules and prizes
The Trading Competition will be hosted by STFX from October 17th to November 17th, 2022, and will offer a prize pool that can reach 100,000 USDC. Prizes will be distributed to the 10 best Managers and 10 best Investors according to their PnL collected during the period. The rules are simple:
- 1.Vault Managers and Investors are both competing for maximum profitability (PnL);
- 2.The Top 10 vault managers and Top 10 investors both win prizes (20 prizes in total);
- 3.Each Vault Manager is allowed to have only one vault consisting of one trade open at a time (e.g. 4x ETH Long);
- 4.Maximum capacity (total investment per vault) is $100. An individual cannot win both Investor and Manager prizes;
- 5.There are no restrictions for total number of investments. Vault managers are allowed to invest in their own vault.
- 6.All open vaults will be automatically closed at the end of the competition, on November, 17th and their results will be included in the participants' performance.
30,000 USDC is the guaranteed minimum Prize Pool. Additionally, STFX will match the amount invested into vaults by each participant and add it to the prize pool, capped at $100 per unique user, for a maximum Prize Pool of 100,000 USDC.
There are prizes for the 10 best Managers and 10 best Investors (20 prizes in total) in the following order: 1st $15,000, 2nd $7,500, 3rd $5,000, 4th $2,500, 5th $1,500, 6th $1,000, 7th $750, 8th $500, 9th $500, and 10th $250.
2. Final results and statistics
The Trading Competition ended on November 17th, 2022. Winners and prizes were disclosed in the following week. STFX also distributed a surprise prize of $5,000 divided between 50 random users of the dApp during the competition.
The Trading Competition was an overwhelming success with over 3000 competitors and over $1.2m in volume, while STVs were limited to only a maximum investment of $200.