Marginly Launches Its Final Trading Contest On Polygon & Arbitrum Testnets
We’re at it again — bigger and better than ever before! We’ve allocated $40,000 in prizes for this new contest and will launch it on two networks simultaneously. This time it’s Polygon (a completely new network for us, but the home for numerous prominent DeFi apps) and our beloved Arbitrum. After the latest round of refining, the tech is ready for the battle test again, and this is how Marginly is steaming ahead toward the long-awaited mainnet launch (soon™).
If you missed it, our previous contests were hugely successful, setting a high bar in terms of trades, active users, and total registrations. Check out our recap for a handy infographic. We strive to go bigger still with this newest contest.
Let’s dive right into how you can win a share of $40,000 and everything you need to know about the contest.
Contest overview
Networks: Arbitrum and Polygon
Timeline:
- Registration starts October 12th, 12PM UTC
- Contest duration October 23rd 3pm UTC — November 13th 3 pm UTC
Available pools:
Arbitrum — ETH/USDC, BTC/USDC, ARB/USDC, GMX/USDC, PEN/ETH, RDNT/ETH
Polygon — ETH/USDC, BTC/USDC, MATIC/USDC, LINK/USDC, GNS/MATIC, MATIC/VOXEL
How to register
- Go to the Marginly website
- Click the “Join” button on the Trading Contest section of the main screen
- Connect your wallet to the Arbitrum or Polygon testnet
- Provide your email (mandatory), Twitter (optional), and Discord (optional)
- Sign the registration message with your wallet to complete your registration
OG traders who participated in previous contests are pre-registered for their convenience. No additional info is needed, just sign the participation message, and you are good to go! Make sure to use the same address as for the previous contest(s) you participated in.
For new users, a referral link will be generated upon registration. Make sure to save it. We will explain the referral program below. Marginly veterans know the drill and can use their referral links from the previous contest.
Users are free to register anytime during the contest. In this case, they will need to use a faucet on our Discord to obtain funds.
How the contest works
Before the contest starts, every registered participant will get the same amount of assets: 10,000.00 USDC and some gas tokens to pay for transaction fees.
The main contest objective is to maximize the final dollar value of your portfolio of assets. To get WBTC, ETH, or other assets you need, please use the Marginly swap functionality located inside every pool. 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 as margin (the other asset paired with the one you are shorting). For example, to short GNS in the GNS/MATIC pool, you need MATIC as a margin.
Throughout the contest duration, real-time rankings will be available on the Marginly leaderboard page. Since two networks are running simultaneously this time, the highest portfolio value of the 2 counts towards the leaderboard.
To better simulate real-world market conditions, we introduced a swap fee and lowered max leverage for some of the more volatile assets, so there won’t be quite as much free liquidity and more reasonable trading volumes compared to the zkSync contest. Please refer to this table to see exactly how much degen is allowed this time around:
Be in the top 150 traders and get rewards
Explore the Marginly app and trade your way to the top. Plenty of trading strategies are available with the tools at traders’ disposal.
Take long or short positions with up to 20x leverage, or simply swap all of your assets into one that you think will perform best and HODL. All trading strategies are viable as long as they increase the value of your portfolio.
The 150 traders who prove most successful at the end of the contest will find themselves eligible for rewards.
Here’s the full reward breakdown of a whopping $40,000 in total prizes:
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).
Who is eligible
All Marginly Paper Plane NFT OR Marginly Paper Plane OAT holders are eligible for participation. You can get any of the two on the Marginly space on Galxe. If you already have an NFT or OAT from previous contests, you’re good to go!
The NFT contract is deployed on Arbitrum, so users will need some tokens for gas to mint it. On the other hand, the OAT mint is fully subsidized by Marginly and is free for all users.
Refer friends and earn
The idea is simple: register for the contest, copy your personalized referral link, invite fellow traders to partake, and get rewards!
Referrers with the most people invited to stand will win the following prizes:
The great news is that your friends also get rewards: they enjoy a 10% bonus for all winnings in the upcoming Arbitrum and Polygon trading contest.
We’re not done yet — 30 Marginly Rocket NFTs will be given to referrers who invite the most people. These limited non-transferable NFTs entitle holders to Marginly native token airdrop.
There are two crucial rules to keep in mind:
Only EVM addresses that did not participate in the Arbitrum contest are eligible to be referred
Every referred address needs to trade at least once during the contest and have either a Marginly Paper Plane NFT or OAT. These can be obtained via the Marginly Galxe campaign.
Join us for yet another epic adventure and discover the magic of decentralized leveraged trading with Marginly!
Important note: Marginly Beta Contest is a simulated trading environment; no real funds are involved. All trading activities are conducted using virtual assets.
