Cosmos Trading Competition: Unite, Trade, and Win Big!
The Cosmos Trading Competition is here, offering an exhilarating opportunity for traders to team up with their favorite projects and compete for a share of an incredible $100,000 prize pool! Inspired by the spirit of the Hunger Games, this unique event turns trading into a team sport where crews from different projects battle it out to showcase their trading prowess. The competition will see nine crews taking home the prizes. Here's everything you need to know to get started and why you should join this epic competition.
The Power of the Cosmos Ecosystem
The Cosmos Trading Competition highlights the strength and interconnectedness of the Cosmos and Inter-Blockchain Communication (IBC) ecosystems. Cosmos is designed to facilitate communication between different blockchains, allowing them to exchange value and data seamlessly. This competition features top projects within the Cosmos ecosystem, representing the most active and innovative communities. Participating lets you showcase your project's strength and bring glory to your crew.
Event Duration
- Start: 17th July, 10:00 AM UTC
- End: 17th August, 10:00 AM UTC
How to Participate
Step 1: Join Your Preferred Crew
To join the competition, connect to Demex using your favorite wallet, such as Leap. Navigate to the Cosmos Trading Competition section and join your preferred crew. Remember, you can only register with one crew per account for the entire competition. If you wish to join a different crew, you'll need to use another account. Hurry, as each crew is limited to the first 500 participants!
Shoutout to Leap! Leap is the super wallet app and the ultimate gateway to the Cosmos ecosystem, enabling seamless interaction with all Cosmos chains.
Step 2: Lend and Collateralize Your Crew's Asset
Show your allegiance by lending your crew's assets on Nitron, Demex's in-app money market. After depositing the asset into Demex (Carbon network), lend and collateralize it on Nitron to complete your registration.
Nitron Lending Requirements:
| Crew | Token Requirements (Value ~$100 each) | Quantity |
|---|---|---|
| Archway | ARCH or sARCH from Archway | 2000 |
| Celestia | TIA from Osmosis | 15 |
| Cosmos | ATOM from CosmosHub or stATOM from Stride | 15 |
| Demex | SWTH from Carbon | 22000 |
| Dymension | DYM or stDYM from Osmosis | 50 |
| dYdX | dYdX from dYdX Chain or stDYDX from Stride | 70 |
| Osmosis | OSMO from Osmosis or stOSMO from Stride | 180 |
| Injective | INJ from Injective or stINJ from Stride | 4 |
| Kujira | KUJI or ampKUJI from Kujira | 90 |
| Levana | LVN from Osmosis | 2200 |
| Milkyway | milkTIA from Osmosis | 15 |
| Secret | SCRT from Secret Network | 330 |
| Stargaze | stSTARS from Stride | 8500 |
Step 3: Trade and Earn Points
Trade on any perpetual market to accumulate points. Every 1 USD of trading volume (including leverage) earns you 1 point. Your registration is confirmed once your address appears on the leaderboard. Keep trading to accumulate points and help your crew climb the leaderboard to win from the $100,000 prize pool!
Leaderboard Structure
The competition features two leaderboards:
- Crew Leaderboard: Crews compete based on their total trading volume. The leaderboard sums up the points of all crew members in real-time.
- Individual Leaderboard: Participants within each crew compete against each other based on trading volume. Individual leaderboards show standings and points for each crew member.
Prize Pool Distribution
The prize pool depends on the total trading volume on Demex, with various milestones:
| Volume Milestone (Demex Total Volume) | Prize Pool ($USDC) |
|---|---|
| <300M | $5,000 |
| 300M-400M | $20,000 |
| 400M-500M | $50,000 |
| >500M | $100,000 |
Prizes can be in $USDC or your crew's token (based on TWAP market buy), and your crew can vote on this. The prize is distributed to your wallet balance on Demex.
Distribution Details
The prize pool distribution is based on both crew performance and individual rankings:
Crew Performance: Half of the prize pool is distributed to crews based on the fixed tier table below:
- 1st Place: 30%
- 2nd Place: 20%
- 3rd Place: 15%
- 4th Place: 10%
- 5th to 9th Place: 5% each
Pro-Rated Volume: The remaining half is distributed to crews based on their pro-rated volume.
Individual Rankings: Once the crew's prize is determined, it is allocated to individuals within the crew based on their individual leaderboard rankings.
Crew Eligibility Criteria: A minimum of $10,000,000 total volume for each crew is needed for the crew to be eligible for prizes.
Benefits for Participants
- Prizes: Win from the $100,000 prize pool in USDC or your crew's token.
- SWTH Incentives: Earn incentives for lending the asset on Nitron.
- External Incentives: Potential incentives provided by your crew's protocol for lending the asset on Nitron.
- Extra Rewards: As the event overlaps with Carbon Credits Season 6, you will earn 35% in $SWTH rebates for your trading fees paid, which can be used to offset trading fees, and other point booster events may take place during the competition as well.
Why Join the Cosmos Trading Competition?
Joining the Cosmos Trading Competition not only provides a chance to win fantastic prizes but also allows you to become part of a dynamic and innovative community. The competition showcases the future of commerce in the decentralized world, where collaboration and competition go hand in hand. By participating, you get to:
- Represent Your Community: Stand up for your favorite project and bring glory to your crew.
- Earn Exciting Rewards: Trade and lend to accumulate points and earn from the prize pool.
- Experience the Future of Trading: Engage in a cutting-edge trading environment within the Cosmos ecosystem.
Don't miss out on this exciting opportunity to be part of the Cosmos Trading Competition. Connect with your favorite wallet, join your crew, and start trading today!