Announcing Strips $100,000 Trading Competition

Calling all Strips community members and traders! To celebrate the launch of our new public testnet, we are inviting everyone to come and compete in our $100,000 prize trading competition. Test your wits against others and win prizes! Trading is free, and 110 traders will receive prizes! Competition starts on January 14th 15:00 UTC and ends January 24th 15:00 UTC. Meanwhile, you can now try out the platform and practice trading at competition.strips.finance.

Competition details:

  • Start time: January 14th 3pm UTC
  • End time: January 24th 3pm UTC
  • Total prizes: $100,000 🤑🤑🤑

💡 Follow this guide to get testnet ETH on Arbitrum https://docs.strips.finance/introduction/strips-exchange/trading/get-started

Eligibility requirements:

  • You must hold 25 STRP tokens on Ethereum mainnet in the same wallet for a MINIMUM of 10 days during the period of January 14 — January 31 (check out how to buy STRP tokens here). Buy STRP tokens early as the price will rise! The earliest day to buy and sell STRP to be eligible for the competition is Jan 14 — Jan 24. The latest day to buy and sell STRP to be eligible for the competition is Jan 21 — Jan 31.
  • Only trading from January 14th 15:00 UTC to January 24th 15:00 UTC will be qualified. Trading outside of these times will not be counted.
  • No experience needed! Zero risk and easy to win.
  • Any participants found to be cheating will be disqualified.

Competition rules:

  1. Link to the competition: competition.strips.finance on Arbitrum testnet.
  2. 💡 check out this guide on how to use the Strips platform.
  3. Each wallet will be able to mint a maximum of 10,000 USDC tokens to trade, and 0.002 SLP tokens to stake.
  4. Two markets will be available for trading: Binance BTC perpetual funding rate, and FTX BTC perpetual funding rate.
  5. The top 10 traders by profit/loss will share in $70,000 of prizes. Winners will be ranked by their total trading profit/loss. Total trading profit/loss includes both realised profit/loss from closed positions and unrealised profit/loss from open positions.
  6. In addition, 100 lucky traders who make at least one trade will be rewarded $300 each.
  7. Rewards will be distributed on Arbitrum mainnet.

Tips and tricks:

  • Learn about perpetual interest rate swaps
  • Long = you believe fixed interest rates will go higher
  • Short = you believe fixed interest rates will go lower
  • Learn how profit/loss is calculated
  • You can participate with multiple wallets, but make sure to hold at least 25 STRP tokens in all the wallets to be qualified for prizes
  • There are no risks to the competition, so be early and try different strategies
  • Staking does not count towards the competition
  • The competition rewards the most profitable traders, so maximize your profits by using leverage. Using higher leverage allows you to put on larger trades and gain larger returns, but there is also a higher chance to be liquidated.

Monitor the progress!

We will be posting daily updates on our social media.

Twitter: https://twitter.com/StripsFinance

Telegram: https://t.me/stripsfi

Discord: https://discord.com/invite/AYsvNhgwGb

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To build the largest fixed income trading platform for DeFi

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