After a successful launch of phase 1 of Dfyn’s trading competition, we are incredibly excited to announce the official launch of the second phase of our trading competition! Traders will again be able to put their market analysis skills to the test and compete for a slew of prizes! We learned a lot from our inaugural event and are implementing a few changes to enhance everyone’s experience and multiply our results! Continue reading for more information.
Overview
Pairs: ROUTE/USDC, ROUTE/ETH, DFYN/USDC, DFYN/ETH, FRM/USDC, FRM/ETH
Duration: The trading competition will start at 3:00 P.M. UTC on Friday, December 24, 2021, and end at 3:00 P.M. UTC on Sunday, January 2, 2022.
Link to register: https://form.jotform.com/213560557199060 (You won’t be considered a participant unless you will out this form)
Link to live leaderboard: https://exchange.dfyn.network/#/trading-leaderboard
Prize pool: $10,000 ($5,000 worth of DFYN tokens and $5,000 worth of FRM tokens)
Note: Don’t use gasless mode for trading competition, the graph API doesn’t index transactions carried out using gasless mode.
Background
We started these competitions to widen our community, strike new partnerships, and raise awareness about the Dfyn exchange. Trading competitions also help in generating quite a bit of trading volume on Dfyn, which of course, equates to a higher APR for the vDfyn stakers!
Throughout the first competition, we saw a 500% increase in trading volumes for registered participants compared to that same group’s volume prior to the event. Prior to the event’s announcement, the addresses of the participants were responsible for around $170,000 in volume over a ten-day period. During the course of the competition, that same group generated over $1.1M in volume, demonstrating a strong correlation between trading activity and the competition!
Competition Details
The following pairs will be eligible for the competition:
ROUTE/ETH
DFYN/ETH
FRM/ETH
ROUTE/USDC
DFYN/USDC
FRM/USDC
The contest will last for 10 days, beginning December 24th at 15:00 UTC and ending January 2nd at 15:00 UTC. Trading volume across the above pairs will be weighted equally. Prizes will be distributed as follows:
1st Place: $3,000 + 100% rebate on the trading fees incurred[upto $10k]
2nd Place: $2,000 + 75% rebate on the trading fees incurred [upto $7.5k]
3rd Place: $1,000 + 50% rebate on the trading fees incurred [upto $5k]
4th-10th Place: $3,000, weighted by volume
10 lucky winners will also receive $100 (must have at least $1000 trading volume to qualify).
Note: The aforementioned rewards will be split equally between $DFYN and $FRM tokens.
Rules of Entry
In order to enter the contest, users must register their Polygon address using this form — https://form.jotform.com/213560557199060.
Valid entries must also follow the Dfyn Twitter page and tweet this medium post with the #DFYN hashtag.
Entries must have a minimum trading volume of $1,000 between competition dates to qualify for a prize. Addresses that do not register will not be eligible for a prize. Please note that this competition is on the Polygon chain only and that you have to do transactions while keeping the gasless mode turned off.
Introducing a Live Leaderboard
We have heard the community’s feedback and have decided to incorporate a live leaderboard for this competition. This will allow users to track their real-time rankings, resulting in even more fierce competition.
Note: The trading competition leaderboard is updated every 5–10 minutes. As a result, we would like to urge the participants not to be alarmed if their trades do not appear immediately.
Partnership with Ferrum Network
As previously mentioned, these contests are a great opportunity to partner with other projects in the ecosystem and cross-promote! For our second contest, we are partnering with Ferrum Network who will be adding $5000 in $FRM to our prize pool!
Ferrum Network is an ecosystem of crypto services powered by the $FRM token. These services include an incubator, a token bridge, blockchain-as-a-service, staking, governance, among others. For more info, check out their website at https://ferrum.network/.
As usual, stay tuned for updates! We plan to continue holding more competitions in the future. Good luck!
About Dfyn
Dfyn is a multi-chain AMM DEX currently functional on the Polygon network and Fantom. Dfyn nodes on various chains act as liquidity entry and exit points into the cross-chain liquidity super mesh that is being enabled by Router Protocol.
Website: https://www.dfyn.network/
Telegram: https://t.me/Dfyn_HQ
Discord : https://discord.gg/yjM2fUUHvN
Twitter: https://twitter.com/_DFyn
Telegram Announcements: https://t.me/dfynofficial