Blast testnet trading contest ends with 2,892 active users and $76m trading volume

Marginly
3 min readMar 14, 2024

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Marginly’s latest testnet trading contest was a precursor for the upcoming mainnet deployment on Blast network. Let’s see how it panned out.

The format remained consistent and involved a PnL leaderboard competition across 2 weeks. There were 5 pools available to traders with a mix of blue chips and meme coins. Maximum allowed leverage was 20x for blue chips and 5x for LINK and meme coins.

Let’s take a look at the trading volume distribution by pool:

The lion’s share of trading volume went to ETH and BTC pools (91.47%) with LINK, DOGE, and PEPE contributing just 8.53%. Some of the factors in play here are available leverage, liquidity depth and selected assets’ price action during the competition.

The users per pool data is shows significantly less ETHand BTC dominance (66.43% compared to 91.47%)

While 33.57% of users traded in non-blue chip pools, they generated just 8.53% of the total trading volume. This means that while many traders tried and tested these pools, the vast majority of the trading and gains were made in ETH and BTC pools.

Marginly joins the Blast ecosystem

Conducting a Blast testnet trading contest proved to be a pivotal step for Marginly in preparing for the mainnet launch on the Blast blockchain. This initiative allowed Marginly to simulate real trading conditions in a controlled environment, enabling the team to identify and rectify any potential issues or bottlenecks before the official launch. The testnet contest provided invaluable insights into the platform’s performance, scalability, and overall user experience, helping Marginly fine-tune its strategies and optimize its systems for a seamless transition to the Blast mainnet. By leveraging the learnings from the testnet competition, Marginly was able to enhance its readiness for the mainnet launch, ensuring a robust and efficient trading ecosystem for its users on the Blast blockchain.

The team is working tirelessly to ensure a smooth launch and secure key ecosystem partnerships. This means more opportunities for users to earn points and rewards with Marginly on Blast.

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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