Trading Competition with Ramses: $50k Prize Pool and Rules Unveiled!

Marginly is set to host an adrenaline-charged joint trading competition via a Ramses subdomain page, promising a feast of excitement for traders of all calibers. With $50,000 worth of rewards at stake, this four-week challenge, commencing from January 4th to February 1st, is an opportunity like no other.

This collaborative effort sees Ramses and Marginly collectively contributing $5,000 and $45,000, respectively, to create a substantial prize pool. The competition is designed to embrace the thrill of leverage trading across two asset pairs.

Prize pool

Here’s how prizes are distributed:

Marginly’s part of rewards will be airdropped to the winners in Marginly native tokens after the TGE set for Q2 2024. All winners will receive tradeable NFTs making holders eligible for Marginly native token airdrop. RAM tokens will be distributed to winners shortly after the end of the contest.

The Rules

To ensure competitive integrity, specific rules have been established.

• Participants are required to engage in trades with a minimum trade size of $100.
• Trades must be opened and closed within the competition date range.

PnL calculation

Winners will be determined through a leaderboard tracking the cumulative percentage PnL (Profit and Loss) for each trader. The cumulative Percentage PnL is calculated as the total of trade percentage PnLs.

Notably, a trade is not defined as a single transaction but rather as a period between zero debt balances, thereby presenting a distinctive approach to assessing trading performance. For example, if you close your first trade with a Percentage PnL of 20% and close your second trade with a Percentage PnL of -5%, your Cumulative Percentage PnL would be 15%. This determination seeks to capture the comprehensive aspect of trading actions, presenting a more holistic perspective on participants’ performance throughout the competition.

Let’s consider a series of trader actions:

• Bring 1 ETH
• Buy 2 ETH on margin (2000 USDC debt)
• Deposit 1 ETH collateral
• Pay off 1000 USDC debt
• Withdraw 1 ETH collateral
• Buy 1 more ETH
• Pay off the entire debt (close position)

All of these will be considered as one action for the purposes of PnL calculation. The PnL in this case will be the sum of all percentages on every action.

This innovative competition promises an amalgamation of strategic trading, relentless competition, and a chance to claim a portion of the substantial $15,000 prize pool. With its distinctive set of rules and robust reward structure, the Ramses Joint Trading Competition on Marginly is poised to captivate and challenge traders, fostering an exhilarating environment for all.

Marginly’s achievement system

Marginly’s achievement system will be running in parallel with the trading contest allowing users to benefit from two separate rewards streams simultaneously.

This system rewards users for key actions:

• Providing liquidity
• Trading
• Referring friends
• Sharing trade results

Traders earn tickets for each achievement, which are then used to determine winners in weekly raffles. The prizes consist of a $1,000 jackpot and 30 $50 native token NFTs. These NFTs then qualify holders to receive a Marginly native token airdrop scheduled to happen after the TGE in Q2 2024.

Refer here and here for a deeper look at the achievement system and the ongoing liquidity bootstrap.

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