Calling all Defi traders and crypto aficionados!
We are delighted to introduce the Marginly Testnet Trading Contest. It is an exciting opportunity for us to showcase the technology and the product that culminated in the Marginly dapp. Explore the power of decentralized leveraged trading, and compete for a chance to win a share of the astounding $150,000 prize pool in Marginly native tokens!
Marginly protocol, with its groundbreaking combination of leveraged trading capabilities, passive yield accrual, portfolio hedging and option strategies sets the stage for a margin trading revolution. Now, we invite you to join our public beta and get a taste of the Marginly experience.
Contest structure and duration
The beta trading contest will be held consecutively on three networks: Arbitrum, Polygon, and zkSync. Here is a breakdown of the first contest:
Network: Arbitrum Goerli Testnet
Dates: 1–22 Aug 2023
Pools: WETH/USDC, ARB/USDC, GMX/USDC
Registration is already open so jump right in! Missed the start or just discovered Marginly? You can still hop in and participate: late registration is available throughout the entire contest!
Participation requirement
To protect our community from bots, we have made the decision that only Paper Plane NFT holders will be eligible to participate in the trading contest.
If you have already registered for the contest, please make sure to get the Paper Plane NFT by August 1 as only NFT holders will receive testnet tokens for the contest. Obtaining a paper plane NFT is simple and takes you less than 2 min — just complete a few quick tasks on our Galxe: https://galxe.com/marginly/campaign/GCTReUWTzD
The Marginly Beta Trading Contest contest features both team and individual leaderboards, allowing participants to compete in two formats simultaneously. Sign up as a captain, gather your own dream team, and work together to climb the ranks. Alternatively, join existing teams or opt to be automatically assigned to a team if you prefer to avoid the hassle of captaincy but still want to participate.
Prize distribution
The prize pool is split between Arbitrum, Polygon and zkSync with $40,000 allocated to each network. $30,000 is reserved for Marginly Galxe community campaign. All prizes are to be given out in Marginly native tokens.
Top-50 individual traders by portfolio net worth at the end of the contest receive the following prizes:
Individual leaderboard prize distribution
Individual winners will receive non-transferable NFTs. NFT holders will be airdropped the amount of native Marginly tokens equal to the value of the leaderboard prize after Marginly’s TGE (Token Generation Event).
Team leaderboard
Top-5 teams from team leaderboard will receive juicy prizes too.
Within each team prizes will be distributed between top-10 traders. They are the ones who contribute to the overall team score.
Here’s how prizes are distributed for rank 1–5 teams:
Rank 1 team prize distribution:
Rank 2 team prize distribution:
Rank 3 team prize distribution:
Rank 4–5 team prize distribution:
Stress test bounty
That’s not all! We also have a stress test bounty of $500 to the trader who generates the highest number of trades over the course of the contest.
Team captain prizes
Top-100 team captains who assembled teams of 10+traders will receive the Marginly Rocket NFT which entitles holders to an airdrop allocation as part of Galxe campaign budget. So gather your friends and start planning your way to the top!
Rules and regulations
- One EVM address = One participant
- You must complete the registration form to participate.
- All Galxe community campaign participants are registered automatically.
- All users will be split into teams. Find the one you like to join on discord or form your own as a captain.
- Users who don’t find/join a team will be assigned one automatically when the contest starts.
- All users are eligible for participation in both individual and team contests.
- Users who enter the contest after the start date compete only for individual prizes.
- Individual account balance (cumulative $USD value of all tokens) at the end of the trading contest is used to determine individual winners.
- A team of 10 users minimum is considered eligible for team contest.
- Maximum number of team members is 35 users.
- Top-10 users by individual account balance from each team contribute towards the final team score. Team with the highest cumulative balance of its top-10 traders at the end wins.
- Team captain is eligible for Marginly Rocket NFT competition if his team consists of a minimum of 10 traders who registered with the same link/code.
- Top 100 team captains of eligible teams from the team leaderboard will be awarded the Marginly Rocket NFT.
- Token transfers between accounts are prohibited. All tokens transferred between accounts will be burned.
Marginly team reserves the right to judge all situations not explicitly covered by the above rules at their discretion.
Get started today!
You don’t have to wait for the trading contest to get your hands on Marginly beta: Galxe community campaign is already live! By participating in this campaign, you can explore Marginly DAPP , earn cool NFTs, and become part of an engaged and supportive community that shares your passion for DeFi. Visit the Galxe platform, complete simple tasks, and unlock exciting rewards today!
Stay tuned for further announcements and information that will guide you through the contest journey. Whether you’re a seasoned trader or a curious novice, there’s a place for you in the Marginly community.
Join us in this epic trading adventure and let’s pave the way for the future of leveraged trading, powered by Marginly!
Important note: Marginly Beta Contest is a simulated trading environment, no real funds are involved. All trading activities are conducted using virtual assets.
