Update to the testnet trading competition on TribeOne V3

TribeOne
4 min readJan 9, 2024

[updated winners list of phase one and rules for phase two below]

Due to circumstances outside of our control, we need to deploy TribeOne V3 protocol on a different network (Arbitrum Sepolia). This will allow us to test all the scenarios needed for later deployment on mainnet. Without collecting the necessary data during testnet phase, we won’t be able to assess if the protocol is working optimally and, most importantly, if users’ funds are protected from bad debt accrual.

Since the deployment may take some time, we decided that we shouldn’t be pausing the competition without a definite timeframe. Instead, to keep it fair for all the participants, we will split it in two parts, with separate rewards for each.

The rewards for participants, similarly, will be split equally between each phase. Details for each competition phase are listed below:

Trading competition phase one: Arbitrum Goerli

  • The current competition that is ongoing since December 13th will end on January 10th 16:00 UTC
  • Results will be tallied at that point and the final leaderboard results announced in due time on our official social channels
  • Eligibility criteria remain the same as before:
  • Leaderboard is created by checking the ROI of the participating wallets
  • PNL of open positions is calculated at the time of the final snapshot (Jan 10th 16:00 UTC)
  • Min. 30k hUSD trading volume is required to be eligible for prizes
  • Min. 50 positions created (50 x open position and 50 x close position events)
  • Positive ROI is required to be eligible for prizes

Phase one rewards

  • 1st Place: 2,250 USD equivalent of HAKA* and 888 USD equivalent of ARB*
  • 2nd place: 1,500 USD equivalent in HAKA
  • 3rd place: 1,000 USD equivalent in HAKA
  • 4th — 10th place: 150 USD of HAKA each
  • 11th — 30th place: 50 USD equivalent in HAKA each

Phase one bonus rewards

  • Bottom 3 of lowest final ROI (bottom of the list, min 30k volume and 50 trades still applies, positive ROI — not): 50 USD of HAKA each
  • Fastest liquidation of a position: 50 USD of HAKA

Trading competition phase two: Arbitrum Sepolia

  • The start of the second phase of the trading competition will be announced on our social channels as soon as the deployment is in its final stages
  • Eligibility criteria remain the same as before:
  • Leaderboard is created by checking the ROI of the participating wallets
  • PNL of open positions is calculated at the time of the final snapshot
  • Min. 30k hUSD trading volume is required to be eligible for prizes
  • Min. 50 positions created (50 x open position and 50 x close position events)
  • Positive ROI is required to be eligible for prizes

Phase two rewards

  • 1st Place: 2,250 USD equivalent of HAKA* and 888 USD equivalent of ARB*
  • 2nd place: 1,500 USD equivalent in HAKA
  • 3rd place: 1,000 USD equivalent in HAKA
  • 4th — 10th place: 150 USD of HAKA each
  • 11th — 30th place: 50 USD equivalent in HAKA each

Phase two bonus rewards

  • Bottom 3 of lowest final ROI (bottom of the list, min 30k volume and 50 trades still applies, positive ROI — not): 50 USD of HAKA each
  • Fastest liquidation of a position: 50 USD of HAKA

Phase one winners announcement

Our requirements for leaderboard ended up being too steep and none of the participants managed to reach the minimum required for a position on the leaderboard. But we still want to award our community’s engagement!

We decided to lower the eligibility criteria to 4 trades and award 12 participants on the leaderboard:

Top 8 performers will receive 500 USDT worth of $HAKA

Winning wallets:

  • 0x0f20…f788
  • 0x0c1f…cacd
  • 0x4dcd…8f68
  • 0x18ec…e8cb
  • 0xca67…45ae
  • 0x552a…ba01
  • 0x8d58…c721
  • 0x4d9f…fa7b

Bottom 4 performers will receive 50 USDT worth of $HAKA

  • 0xc4fe…c5df
  • 0x6a6f…ef81
  • 0x5057…fb44
  • 0x2fe8…6f60

The unallocated part of the prize pool will be added to the pool of the second phase.

Phase two: updated eligibility criteria

  • Leaderboard is created by checking the ROI of the participating wallets
  • PNL of open positions is calculated at the time of the final snapshot
  • Min. 30k hUSD trading volume is required to be eligible for prizes
  • Min. 10 positions created
  • Positive ROI is required to be eligible for top prizes

Phase two: updated prizes

  • 1st Place: 3,000 USDT equivalent in HAKA and 888 USDT equivalent in ARB
  • 2nd place: 1,750 USDT equivalent in HAKA
  • 3rd place: 1,250 USDT equivalent in HAKA
  • 4th — 10th place: 200 USDT equivalent in HAKA each
  • 11th — 30th place: 100 USDT equivalent in HAKA each

Phase two: updated bonus rewards

  • Bottom 3 of lowest final ROI (positive ROI not required):
    100 USDT equivalent in HAKA
  • Fastest liquidation of a position: 100 USDT equivalent in HAKA

--

--

TribeOne

TribeOne is an AI Powered NFT and DeFi funding Platform