Extra Merchants, Extra Prizes
Season 1 of the Synthetix buying and selling competitors has been pure adrenaline. 100 merchants battling it out, swinging for the fences with 100x leverage, and a leaderboard that stored us glued to our screens. It’s been a lot enjoyable that we couldn’t end it right here…
Season 2 launches on December 1st, with the next upgrades:
- 1,000 merchants
- Over $1m in prizes (500k USDC and 680k SNX)
- 50 winners
- 30 markets
- 2 weeks of buying and selling
We offer the margin – you make the trades!
Season 1 restricted entries to 100 of the largest and finest merchants in crypto for an all-out conflict over a $1,000,000 high prize, however we acquired a whole bunch, if not hundreds, of feedback, requests, and DMs asking for an entry as soon as the competitors started.Â
Now it’s your flip. We’re opening up Synthetix Change to 1,000 merchants for Season 2.
Whereas Season 1 of the Synthetix Mainnet Buying and selling Competitors skewed very closely to the first place with a $1,000,000 high prize, Season 2 will characteristic a extra evenly distributed prize pool amongst the highest 50 merchants.Â
Occasion Particulars
200 High Merchants: Invite-only spots reserved for influential voices within the crypto area. These consultants will carry their buying and selling prowess, or lack thereof, and distinctive views. They may assist amplify the occasion's attain and influence.
800 Open Spots: 80% of entries into spherical 2 are open to the group! Merchants might be chosen primarily based on the highest 800 sUSD pre-depositors with a minimal deposit of 10,000 sUSD. To stay eligible for prizes all through the competitors, depositors should keep their deposit steadiness within the vault.
Goal: End with the best margin steadiness on the finish of the competitors.Â
Identification: Earlier than a consumer can commerce, they need to hyperlink their X account to their deposit tackle on Synthetix Change. Synthetix reserves the best to reject any accounts that seem like botted or inorganic.
Dealer Protection: Whereas user-level commerce knowledge on the Synthetix Change will stay personal, Synthetix reserves the best to share all buying and selling exercise and put up public content material about merchants and their participation throughout the competitors.
Guidelines of Engagement: We'll be monitoring all through the competitors for sybils and can disqualify any accounts that behave outdoors of the spirit of the competitors (correlated buying and selling throughout accounts, exploit abuse, and so on).
The Prizes
- First – 200,000 USDC
- Second – 100,000 USDC
- Third – 100,000 USDC
- 4th – 50,000 USDC
- fifth – 50,000 USDC
- sixth – 50,000 SNXÂ
- seventh – 40,000 SNXÂ
- Eighth-Tenth – 30,000 SNX every
- Eleventh-Twentieth – 20,000 SNX every
- Twenty first-Thirtieth – 15,000 SNX every
- Thirty first-Fortieth – 10,000 SNX every
- Forty first-Fiftieth – 5,000 SNX every
Why Season 2 Issues
Season 1 was all-out degeneracy. 100 merchants, 100x leverage on all markets, all preventing right down to the road for 1st place. This has been invaluable to find edge instances and hardening infra to the intense.
At Synthetix, we're severe about constructing the most effective monetary infrastructure and stress-testing it in real-world circumstances to make sure it is battle-ready. We’re launching the primary perp DEX on Ethereum in This autumn this yr, and we wish to assure an ideal buying and selling expertise on Day Considered one of public launch.
Season 2 will assist simulate a extra life like buying and selling setting with a bigger pool of merchants, extra trade options, and extra conservative and life like leverage limits, so we are able to laser-in our product forward of public launch in December.
Infrastructure Hardening: With almost $3 billion in buying and selling quantity generated within the first 3 weeks of Season 1, merchants have helped us shake out our trade. Nevertheless, earlier than our full Mainnet rollout, we wish to iron out each potential kink in our programs. Season 2 will assist us additional scale our infrastructure, guaranteeing it may deal with the calls for of a world consumer base with out compromising on pace or reliability.
Market Maker Integrations: Season 2 will support us in fine-tuning our accomplice and market maker integrations even additional, giving them extra alternative to refine their integrations, optimize liquidity provisions, and order routing for the smoothest potential operations post-launch.
SLP Group Market Making Vault Testing: A notable spotlight for merchants collaborating in Seasons 1 & 2 is the combination with our SLP (Synthetix Liquidity Supplier) group market-making vault. Contributors will work together with this vault, serving to us validate its efficiency in stay buying and selling environments and fostering community-driven liquidity.
Crush the competitors and assist make Synthetix perps the gold normal for buying and selling in DeFi.
Tips on how to Get Concerned
For those who’re a high dealer or outstanding group chief, you may request to enter the Synthetix buying and selling competitors by sharing your curiosity on X with the next sharecard (under).
Add the Season 2 sharecard, tag @synthetix on X, and ask to be let in to the competitors.
For the pre-deposit slots, head over to the Synthetix Deposit App to enter, or try our Discord for step-by-step directions on qualify. Deposits at the moment are open. Safe your spot!
This buying and selling competitors marks a pivotal chapter for Synthetix as we absolutely embrace Ethereum Mainnet's potential. Whether or not you are a seasoned dealer, a market maker, or a DeFi newcomer, that is your likelihood to be a part of historical past and assist carry a perp to Ethereum Mainnet.
Comply with Synthetix as we speedrun to mainnet.
Be a part of the dialog: discord.gg/synthetixÂ
Subscribe to Telegram: t.me/+v80TVt0BJN80Y2YxÂ
Comply with on X: x.com/synthetix
