Altcoin Option Trading Competition & Liquidity Incentives - 30,000 USDC in prizes
We’re excited to launch a new altcoin option trading competition & liquidity incentive on Arbitrum with over 30,000 USDC in prizes.
Liquidity providers who provide USDC to the options protocol will share in 15,000 USDC. Traders will compete for 15,000 USDC ranked in two tiers; relative P&L and absolute P&L.
All of the option markets listed on Arbitrum are eligible for the trading competition including: Ethereum, Bitcoin, Matic, Solana, Avalanche, Doge, Cardano, Aave, Polkadot, Sushi, BNB, Chainlink, Uniswap and Ripple!
Vault Deposit Window Opens: 12am UTC May 08, 2023
Vault Deposit Window Closes: 12am UTC May 15, 2023
Trading Window Opens : 12am UTC May 15, 2023
Trading Window Closes: 12am UTC June 12, 2023
Total prize pool
Competitors will receive:
Vault liquidity providers: 15,000 USDC
Trading absolute P&L: 7,500 USDC
Trading relative P&L: 7,500 USDC
Vault liquidity: Provide liquidity to the vault on Arbitrum while the vault deposit window is open*. Note the vault will only be open for liquidity to be deposited for 7 days.
Trading prizes: Trade 100 USDC in premiums** on Arbitrum to be eligible. Positions need to be opened & closed during the competition period to count to your trade
*Only funds that remain in the vault when the trading window opens will be counted.
**The premium calculation will exclude the intrinsic fee.
Vault Liquidity - 15,000 USDC
15,000 USDC will be distributed proportionally to the liquidity providers of the vault.
Trading Relative P/L - 7,500 USDC
Relative P/L will be calculated based on percentage return on positions opened after the start date, less any options transferred to an account during the competition period.
1: 1,000 USDC
2: 500 USDC
3: 250 USDC
4-10: 125 USDC
11-25: 75 USDC
26-100: 50 USDC
Trading Absolute P/L - 7,500 USDC
Absolute P/L rankings will be calculated from a trader's returns in dollar value from positions opened after the start date during the competition.
1: 2,500 USDC
2: 1,500 USDC
3: 1,000 USDC
4: 750 USDC
5: 500 USDC
6-10: 250 USDC
How do I enter?
Liquidity provider: To be eligible to receive the liquidity provider incentives you need to provide liquidity to the vault during the deposit window.
Trading: To enter, simply make a trade on Optix after the official competition start time. After trading more than 100 USDC in premiums you will appear on the competition leaderboard where you can track your performance in relation to other traders.
Can I transfer positions during the competition?
Accounts that transfer option positions will be disqualified. Options that are transferred to an account will be excluded from the rankings.
How will winners receive their prizes?
Winners will have their USDC prizes distributed to their competition wallet within 1 week of the end of the competition period.
Optix is a decentralized option protocol where you can buy options on top crypto assets with up to 50x leverage and earn sustainable yield selling options, directly from your wallet.
It is multi-chain and provides fully collateralized on chain options across a range of alt coins.