July Option Trading Competition - SOL, MATIC, ADA & XRP - $5,000 in prizes
Trade options on these assets for your chance to win some prize money.
Traders will compete for 5,000 USDC ranked in two tiers; relative P&L and absolute P&L.
Only these specific option markets on Arbitrum are eligible for the trading competition including: Solana, Matic, Ada & XRP
Trading Period Opens : 12am UTC July 1, 2023
Trading Period Closes: 12am UTC August 1, 2023
Total prize pool
Competitors will receive:
Trading absolute P&L: 2,300 USDC
Trading relative P&L: 2,700 USDC
Pay at least 10 USDC in premiums on the specific assets on Arbitrum to be eligible.
Trades included will be those that were created after the competition start time and are either exercised or expire before the competition period ends.
Trading Absolute P/L - 2,300 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: 750 USDC
2: 500 USDC
3-9: 150 USDC
Trading Relative P/L - 2,700 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: 750 USDC
2: 500 USDC
3-9: 100 USDC
10-24: 50 USDC
How do I enter?
To enter, simply make a trade on Optix after the official competition start time and it must either be exercised or expire before the competition period ends. After 1 or more trades reaching more than 10 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.