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 saved 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 finest merchants in crypto for an all-out warfare over a $1,000,000 prime prize, however we obtained tons of, if not hundreds, 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 Alternate 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 prime prize, Season 2 will function a extra evenly distributed prize pool amongst the highest 50 merchants.
Occasion Particulars
200 High 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 will likely 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 keep their deposit steadiness within the vault.
Goal: End with the very best margin steadiness on the finish of the competitors.
Identification: Earlier than a consumer can commerce, they need to hyperlink their X account to their deposit handle on Synthetix Alternate. Synthetix reserves the correct to reject any accounts that look like botted or inorganic.
Dealer Protection: Whereas user-level commerce knowledge on the Synthetix Alternate will stay personal, Synthetix reserves the correct to share all buying and selling exercise and publish public content material about merchants and their participation in the course of the competitors.
Guidelines of Engagement: We’ll be monitoring all through the competitors for sybils and can disqualify any accounts that behave outdoors of the spirit of the competitors (correlated buying and selling throughout accounts, exploit abuse, and so on).
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 circumstances and hardening infra to the acute.
At Synthetix, we’re severe about constructing one of the best monetary infrastructure and stress-testing it in real-world circumstances to make sure it is battle-ready. We’re launching the primary perp DEX on Ethereum in This fall this 12 months, and we need to assure an ideal buying and selling expertise on Day One in every of public launch.
Season 2 will assist simulate a extra sensible buying and selling atmosphere with a bigger pool of merchants, extra alternate options, and extra conservative and sensible 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 alternate. Nevertheless, 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, making certain it will possibly deal with the calls for of a world consumer base with out compromising on pace or reliability.
Market Maker Integrations: Season 2 will support us in fine-tuning our companion 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 mixing with our SLP (Synthetix Liquidity Supplier) group market-making vault. Members will work together with this vault, serving to us validate its efficiency in reside 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.
Get Concerned
If you happen to’re a prime dealer or outstanding group chief, you possibly can 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 find out how 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.
Observe Synthetix as we speedrun to mainnet.
Be part of the dialog: discord.gg/synthetix
Subscribe to Telegram: t.me/+v80TVt0BJN80Y2Yx
Observe on X: x.com/synthetix
