Commit USDC and Hubble Space Cats (HSC) as reward for a testnet Trading Competition.
The Trading Competition facilitates testing the protocol before mainnet launch. For successful testing, it is integral for sufficient rewards to be provided to attract traders and trading that assimilates mainnet usage.
If this proposal passes, the following prizes will be approved as rewards for the winners:
First - $10k + 4 HSC
Second - $5k + 3 HSC
Third - $2.5k + 2 HSC
4-10th - $500 + 1 HSC
11-100th - $100 + 1 HSC
Prize Pool for Traders: $30,000
There will be another prize pool for Makers.
First - $7,500 + 4 HSC
Second - $5,000 + 3 HSC
Third - $2,000 + 2 HSC
Fourth - $1000 + 1 HSC
Fifth - $1000 + 1 HSC
6th-10th - $700 each + 1 HSC
Prize Pool for Makers: $20,000
What are Makers? Similar to liquidity provision by LPs in Curve V2 pools, Makers provide virtual liquidity in the Hubble vAMM pool but on leverage i.e. they can add more virtual liquidity than their margin and earn fees on leveraged liquidity. For every position opened by a trader, there is a counter position opened for all makers and they share it in the ratio of their liquidity.
Makers will have a pnl just like traders. They can be traders too. If a participant is taking on the role of a Trader and a Maker, they’ll be considered in both pools.
Total Prize Pool: $50,000
The cash prizes can be claimed in USDC or as Hubble tokens at the equivalent USD value at the market price after TGE (sometime in 2022).
Before I vote can I get more information on how the total value of the prizes was thought out? Just for my information what factors were considered when coming up with that amount? Is it part of a marketing budget? Just for some clarity? I guess this segways into another question about a breakdown of what the DAO treasury will be. How much is allocated and the line items for each? Let me know! Also what is the projected runway of the project? Thanks