Temperature Check - Trading Competition Rewards

This proposal seeks to:

  • 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).

  • For
  • Against
  • Neither

0 voters

42 Likes

Voted! Lets make this trading challenge huge and attract lots of new cats to here!

7 Likes

Agree. Exciting Competition for the Hubblers :grinning:

2 Likes

I voted. I want USDC, but I want more new HSC.

2 Likes

Voted! Looking forward to the results and see what community thinks

Wow I’m so excited about this, amazing challenge, thank you Hubble! Also, we can gain experience for real trading, this will be so helpful for us.

1 Like

This is really hard decision, maybe consider a poap for all traders.

1 Like

It’s must to be exciting

1 Like

I voted and I’m looking forward to the contest I hope I will do my best and this contest will help the hubble community and hubble get better :heart:

2 Likes

i voted and agreed :+1:

2 Likes

Art Guild can certainly work on an NFT for participants.

2 Likes

Good news. I vote and agree

1 Like

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

Voted, seems like good enough incentives to attract users.

i am for this. very good one

Everything is great :telescope::small_red_triangle:

why the same amount?

2 Likes

how long will this competition be?

2 Likes

I like this proposal. it will attract a lot of new people

Can anyone participate in this competition?

2 Likes