gTrade x Polygon Trading Contest #2
First place wins $30,000 and there are 300 spots available for prizes! Contest starts on March 21 and ends on April 21.
Hello Gains Network community! It’s time for another trading competition. Our friends at Polygon have given us a $250k grant that we have been using to grow gTrade through trading contests.
We love to see the excitement on our socials about our trading contests. This event will be a friendly competition among our community and a warm welcome to new traders discovering our platform.
When the last trading contest had concluded, it was a success in terms of hype and engagement. We’re now left with $125k to put towards growing gTrade.
Contest Details
Prize Pool Total: 80,000 $MATIC + $37,750 in $GNS
Dates & Times: March 21, 0:00 UTC to April 21, 23:59 UTC
Only trades opened and closed during the contest will count towards your score in the leaderboard.
Contest Improvements
There are some changes we have made to make this contest even better than the last one!
1. There will be 300 winners instead of 1000.
With 300 slots for winners and larger prizes, we expect fierce competition for the top spots.
2. Forex trade volume will be weighted 1/10 of crypto volume.
This is because fees generated from forex are 10 times smaller than crypto for the same volume. This weighting will rebalance the volume in the trading contest to align incentives with our fee system and equalize the risk between forex and crypto trades.
This means more value generated for our stakers and the platform.
3. The new formula is: Sum of [each trade: (PnL %) * sqrt(volume)]
This formula replaces sum(total PnL %) + sqrt(sum(total volume)).
This new formula incentivizes taking more risk because you need to have a high PnL percentage on large positions, which should make the contest very exciting!
We are constantly iterating on our trading contests and the gTrade platform, so we expect each contest to be a better experience than the last. Some new updates that have been pushed out since the last contest are our chat feature and backend optimizations. This will allow for friendly banter and an improved UX for traders respectively. Ultimately, we want both veteran gTraders and newcomers to feel excited to be trading here. Now let’s take a look at the rewards!
Rewards for Top 300
1: 6,400 $MATIC + $20k in $GNS (≈ $30,000)
2: 6,400 $MATIC + $10k in $GNS (≈ $20,000)
3: 6,400 $MATIC + $5k in $GNS (≈ $15,000)
4: 4,640 $MATIC + $2750 in $GNS (≈ $10,000)
5: 3,200 $MATIC (≈ $5,000)
6: 2,560 $MATIC (≈ $4,000)
7: 2,240 $MATIC (≈ $3,500)
8: 1,920 $MATIC (≈ $3,000)
9: 1,600 $MATIC (≈ $2,500)
10: 1,280 $MATIC (≈ $2,000)
11–20: 960 $MATIC (≈ $1,500)
21–30: 640 $MATIC (≈ $1,000)
31–40: 512 $MATIC (≈ $800)
41–50: 384 $MATIC (≈ $600)
51–75: 256 $MATIC (≈ $400)
76–100: 160 $MATIC (≈ $250)
101–150: 64 $MATIC (≈ $100)
151–200: 48 $MATIC (≈ $75)
201–250: 32 $MATIC (≈ $50)
251–300: 16 $MATIC (≈ $25)
The top 3 traders will win a combined total of $65,000! Placing between top 10 and 150 will net you a minimum of $100 and up to $2000. We are excited to see gTraders go head-to-head in this trading contest. May the best trader win!
