Announcing Marginly Trading Contest on Blast Testnet with Over $6,000 in Rewards!

Marginly
4 min readFeb 12, 2024

Prepare to be amazed, as Marginly, the boss of decentralized leverage trading, is making its grand entrance into the vibrant Blast ecosystem! We are eager to pioneer a new wave of trading excellence in this native yield environment. This isn’t mere participation; it’s about setting the standard for innovation in the realm of decentralized finance within the Blast ecosystem. We intend to share a generous portion of Blast Developer airdrop with our community, fostering growth, creativity, and pushing the boundaries of what’s achievable together.

Immerse yourself in the world of Blast Margin Trading and take part in this competition where over $6,000 in rewards await.

Here’s a quick rundown of what’s happening:

  • Marginly is coming to the Blast L2 with native yield for Lenders.
  • Register for the testnet contest and compete to win REAL prizes in Blast tokens.
  • Refer friends and earn more Blast tokens from the Blast Airdrop.

General Information

Network: Blast Sepolia

Registration dates: February 12th 3pm UTC — February 19th 3pm UTC

Contest dates: February 19th 3pm UTC — March 4th 3pm UTC

Trade with leverage on Blast in these pools: (there might be more, it’s a testnet after all)

How to register

It only takes two quick and easy steps to take part:

  1. Complete this Galxe campaign.
  2. Marginly Paper Plane OAT is required to participate. Get it here.

Note: Current Paper Plane OAT holders need to mint it again to be eligible. They will be able to complete the Galxe campaign however the results will not count towards the contest leaderboard unless the OAT is minted on February 12th or later.

The OAT mint is subsidized by Marginly and does not require users to pay any gas fees.

Contest Mechanics

All registered participants will be sent testnet tokens automatically. Those who join late will need to use a dedicated faucet on Marginly Discord. Everyone will get 10K USDC at the start and then can use Marginly’s swap functionality to get other tokens.

The main objective is to have the highest $ portfolio value at the end of the contest using Marginly Blast testnet app for making leveraged trades. Additionally there is swap functionality available for traders’ convenience.

To go long with leverage, use the corresponding token as margin (e.g., long x10 BTC with BTC margin). To short any asset, use the quote asset (USDC) as margin.

A real time leaderboard will be available throughout the contest.

Rewards

There are two types of rewards for traders. First reward is BLAST tokens. $5k worth of them will be distributed among top-10 traders as follows:

Additionally top-50 traders will get 50% of Marginly’s BLAST DEVELOPER AIRDROP rewards (if we win the BIG BANG competition). Here’s how these will be distributed:

Referral Program Rewards

The idea is simple: register for the contest, copy your personalized referral link, invite fellow traders to partake, and get rewards!

Referrers with most people invited stand to split the $1k prize in BLAST tokens:

Great news is that your friends also get rewards: they enjoy a 10% bonus to all winnings in the upcoming trading contest.

There is an important rule to keep in mind: only traders who are in the top 10% of the leaderboard count towards the referral competition!

Margin trading on Blast via Marginly offers a lucrative opportunity for traders to showcase their skills and compete for over $6,000 in rewards, making it an exciting and rewarding event in the world of decentralized finance. Join now and test your trading abilities for a chance to win big!

All Blast token rewards will be distributed in May after the airdrop happens. Fixed $ rewards will be distributed once the contest ends provided Blast mainnet is live and operational at that point.

Refer here to learn how Marginly empowers AMM DEXs on Blast.

Important note: Marginly Blast Testnet Contest is a simulated trading environment, no real funds are involved. All Leveraged Trading on Blast is conducted using virtual assets.

Make sure to follow our community channels on Twitter, Telegram and Discord to stay tuned for more updates.

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Marginly

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