Extra Merchants, Extra Prizes
Season 1 of the Synthetix buying and selling competitors has been pure adrenaline. 100 merchants battling it out, swinging for the fences with 100x leverage, and a leaderboard that stored us glued to our screens. It’s been a lot enjoyable that we couldn’t end it right here…
Season 2 launches on December 1st, with the next upgrades:
1,000 tradersOver $1m in prizes (500k USDC and 680k SNX)50 winners30 markets2 weeks of buying and selling
We offer the margin – you make the trades!
Season 1 restricted entries to 100 of the most important and greatest merchants in crypto for an all-out battle over a $1,000,000 high prize, however we obtained lots of, if not 1000’s, of feedback, requests, and DMs asking for an entry as soon as the competitors started.
Now it’s your flip. We’re opening up Synthetix Trade to 1,000 merchants for Season 2.
Whereas Season 1 of the Synthetix Mainnet Buying and selling Competitors skewed very closely to the first place with a $1,000,000 high prize, Season 2 will function a extra evenly distributed prize pool amongst the highest 50 merchants.
Occasion Particulars
200 Prime Merchants: Invite-only spots reserved for influential voices within the crypto area. These specialists will deliver their buying and selling prowess, or lack thereof, and distinctive views. They’ll assist amplify the occasion’s attain and affect.
800 Open Spots: 80% of entries into spherical 2 are open to the group! Merchants shall be chosen based mostly on the highest 800 sUSD pre-depositors with a minimal deposit of 10,000 sUSD. To stay eligible for prizes all through the competitors, depositors should preserve their deposit stability within the vault.
Goal: End with the best margin stability on the finish of the competitors.
Identification: Earlier than a consumer can commerce, they have to hyperlink their X account to their deposit deal with on Synthetix Trade. Synthetix reserves the proper to reject any accounts that look like botted or inorganic.
Dealer Protection: Whereas user-level commerce information on the Synthetix Trade will stay non-public, Synthetix reserves the proper to share all buying and selling exercise and submit public content material about merchants and their participation throughout the competitors.
Guidelines of Engagement: We’ll be monitoring all through the competitors for sybils and can disqualify any accounts that behave exterior of the spirit of the competitors (correlated buying and selling throughout accounts, exploit abuse, and many others).
The Prizes
First – 200,000 USDCSecond – 100,000 USDCThird – 100,000 USDC4th – 50,000 USDC5th – 50,000 USDC6th – 50,000 SNX seventh – 40,000 SNX Eighth-Tenth – 30,000 SNX each11th-Twentieth – 20,000 SNX each21st-Thirtieth – 15,000 SNX each31st-Fortieth – 10,000 SNX each41st-Fiftieth – 5,000 SNX every
Why Season 2 Issues
Season 1 was all-out degeneracy. 100 merchants, 100x leverage on all markets, all combating all the way down to the road for 1st place. This has been invaluable to find edge instances and hardening infra to the intense.
At Synthetix, we’re critical about constructing the most effective monetary infrastructure and stress-testing it in real-world situations to make sure it is battle-ready. We’re launching the primary perp DEX on Ethereum in This autumn this 12 months, and we need to assure an ideal buying and selling expertise on Day Considered one of public launch.
Season 2 will assist simulate a extra practical buying and selling setting with a bigger pool of merchants, extra change options, and extra conservative and practical leverage limits, so we will laser-in our product forward of public launch in December.
Infrastructure Hardening: With practically $3 billion in buying and selling quantity generated within the first 3 weeks of Season 1, merchants have helped us shake out our change. Nonetheless, earlier than our full Mainnet rollout, we need to iron out each doable kink in our techniques. Season 2 will assist us additional scale our infrastructure, guaranteeing it could deal with the calls for of a worldwide consumer base with out compromising on pace or reliability.
Market Maker Integrations: Season 2 will support us in fine-tuning our associate and market maker integrations even additional, giving them extra alternative to refine their integrations, optimize liquidity provisions, and order routing for the smoothest doable operations post-launch.
SLP Group Market Making Vault Testing: A notable spotlight for merchants collaborating in Seasons 1 & 2 is the combination with our SLP (Synthetix Liquidity Supplier) group market-making vault. Contributors will work together with this vault, serving to us validate its efficiency in stay buying and selling environments and fostering community-driven liquidity.
Crush the competitors and assist make Synthetix perps the gold customary for buying and selling in DeFi.
How one can Get Concerned
When you’re a high dealer or outstanding group chief, you may request to enter the Synthetix buying and selling competitors by sharing your curiosity on X with the next sharecard (beneath).
Add the Season 2 sharecard, tag @synthetix on X, and ask to be let in to the competitors.
For the pre-deposit slots, head over to the Synthetix Deposit App to enter, or take a look at our Discord for step-by-step directions on easy methods to qualify. Deposits at the moment are open. Safe your spot!
This buying and selling competitors marks a pivotal chapter for Synthetix as we absolutely embrace Ethereum Mainnet’s potential. Whether or not you are a seasoned dealer, a market maker, or a DeFi newcomer, that is your likelihood to be a part of historical past and assist deliver a perp to Ethereum Mainnet.
Comply with Synthetix as we speedrun to mainnet.
Be a part of the dialog: discord.gg/synthetix
Subscribe to Telegram: t.me/+v80TVt0BJN80Y2Yx
Comply with on X: x.com/synthetix
