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 tradersOver $1m in prizes (500k USDC and 680k SNX)50 winners30 markets2 weeks of buying and selling
We offer the margin – you make the trades!
Season 1 restricted entries to 100 of the largest and greatest merchants in crypto for an all-out conflict over a $1,000,000 prime prize, however we obtained a whole bunch, if not hundreds, of feedback, requests, and DMs asking for an entry as soon as the competitors started.
Now it’s your flip. We’re opening up Synthetix Trade 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 prime prize, Season 2 will characteristic a extra evenly distributed prize pool amongst the highest 50 merchants.
Occasion Particulars
200 Prime Merchants: Invite-only spots reserved for influential voices within the crypto area. These specialists will convey their buying and selling prowess, or lack thereof, and distinctive views. They are going to assist amplify the occasion’s attain and affect.
800 Open Spots: 80% of entries into spherical 2 are open to the neighborhood! Merchants might be chosen based mostly 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 preserve their deposit steadiness within the vault.
Goal: End with the best margin steadiness on the finish of the competitors.
Identification: Earlier than a person can commerce, they have to hyperlink their X account to their deposit tackle on Synthetix Trade. Synthetix reserves the best to reject any accounts that look like botted or inorganic.
Dealer Protection: Whereas user-level commerce knowledge on the Synthetix Trade will stay personal, Synthetix reserves the best to share all buying and selling exercise and publish public content material about merchants and their participation in the course of the competitors.
Guidelines of Engagement: We’ll be monitoring all through the competitors for sybils and can disqualify any accounts that behave exterior of the spirit of the competitors (correlated buying and selling throughout accounts, exploit abuse, and many others).
The Prizes
First – 200,000 USDCSecond – 100,000 USDCThird – 100,000 USDC4th – 50,000 USDC5th – 50,000 USDC6th – 50,000 SNX seventh – 40,000 SNX Eighth-Tenth – 30,000 SNX each11th-Twentieth – 20,000 SNX each21st-Thirtieth – 15,000 SNX each31st-Fortieth – 10,000 SNX each41st-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 find edge circumstances and hardening infra to the acute.
At Synthetix, we’re critical about constructing the very best monetary infrastructure and stress-testing it in real-world situations to make sure it is battle-ready. We’re launching the primary perp DEX on Ethereum in This autumn this 12 months, and we need to assure an ideal buying and selling expertise on Day One in every of public launch.
Season 2 will assist simulate a extra real looking buying and selling setting with a bigger pool of merchants, extra alternate options, and extra conservative and real looking 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 alternate. Nevertheless, earlier than our full Mainnet rollout, we need to iron out each potential kink in our methods. Season 2 will assist us additional scale our infrastructure, making certain it might probably deal with the calls for of a world person base with out compromising on pace or reliability.
Market Maker Integrations: Season 2 will support us in fine-tuning our companion 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 Neighborhood Market Making Vault Testing: A notable spotlight for merchants collaborating in Seasons 1 & 2 is the mixing with our SLP (Synthetix Liquidity Supplier) neighborhood market-making vault. Members will work together with this vault, serving to us validate its efficiency in dwell buying and selling environments and fostering community-driven liquidity.
Crush the competitors and assist make Synthetix perps the gold customary for buying and selling in DeFi.
Learn how to Get Concerned
In the event you’re a prime dealer or outstanding neighborhood chief, you’ll be able to request to enter the Synthetix buying and selling competitors by sharing your curiosity on X with the next sharecard (beneath).
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 how one can qualify. Deposits are actually open. Safe your spot!
This buying and selling competitors marks a pivotal chapter for Synthetix as we totally 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 convey a perp to Ethereum Mainnet.
Comply with Synthetix as we speedrun to mainnet.
Be a part of the dialog: discord.gg/synthetix
Subscribe to Telegram: t.me/+v80TVt0BJN80Y2Yx
Comply with on X: x.com/synthetix
