NFTperp, is a project that works as a DEX or Decentralized Exchange of perpetual futures, but with the particularity that it is based only on NFTs. Currently, they have launched the third edition of their Private Beta Trading competition. In this article we will tell you what it is about and the NFT prizes at stake.
NFT’s latest commercial showdown, so promoted NFTperp the third edition of its Private Beta Trading competition, which is sponsored by dYdX Hedgies and Degenz.
The objective of this trading competition is to showcase trading skills and compete with other users for a chance to reach the top positions and get amazing prizes in NFT format depending on the final position in the table.
From NFTperp they have confirmed that they have been working steadily to make it the best competition so far. Also, they said that they stopped the competitions that were in the last week of February with the intention of preparing all this special and unique event.
The most important features you need to know
Below, I will review the most important dates and features that users need to be aware of when getting started in this third NFT trading competition.
It started on March 1 at 12:00 UTC and will end on March 31 at the same time it started.
The commercial pairs that will be available to compete are:
BAYC/ETH
MAYC/ETH
PUNK/ETH
MILADY/ETH
AZUKI/ETH
XXXXX/ETH
On the other hand, it is important to know that no special registrations are required to participate in the private beta trading competition, and all trades during the competition period will be considered for the calculations in the leaderboard.
What are the prizes to be awarded at the end of the competition?
As I mentioned before, there will be prizes in the form of NFTs, since this third edition of the competition is sponsored by other projects after the alliances generated with NFTperp.
Accordingly, the top finishers on both the PnL and ROI leaderboards will each receive a dYdX Hedgie.
In addition, they announced that the last Degen with the top settled wallet, in ETH value, will receive a Degenz Gold Pass. You can see all the benefits of this exclusive Degenz membership here.
However, they also confirmed that the user who finishes second on the PnL & ROI leaderboard will each receive a Degenz common access pass.
Another novelty of this third edition of the NFTperp competition, is that the same project has purchased a Milady Maker NFT and fractionated it through Nibbl. You can see the NFT hosted on OpenSea here.
The NFT was split into 10 parts and will reward the top 5 finishers on both leaderboards (both PnL and ROI).
However, it doesn’t end there, as NFTperp also presented another special prize in NFT format, as it acquired a non-fungible token from Lil Pudgybut has reserved it for a hidden category TBA, which has not yet been confirmed what it will be.
What other awards will there be beyond the NFTs?
NFTperp will not only give prizes in non-fungible tokens, but also $vNFTP tokens, the project’s governance token. Learn all about $vNFTP here.
A total of 600,000 $vNFTP tokens will be distributed as prizes at the end of the third edition of this new competition.
The 600,000 tokens will be distributed to the top 50 wallets according to the realized PnL and ROI%. Also, degens will be rewarded with the top 4 wallets settled in ETH value, as happened last time in the second edition of the competition.
The official description of the $vNFTP tokens to be delivered – source: NFTperp
Lastly, NFTperp made it clear that all eligible trading volume during the competition is accumulated, with the aim of rewarding for volume and convergence. Also, it is done in this way as part of the NFTperp project’s own ‘Odeshi Airdrop’ campaign. Below, you can find out all about this new NFTperp Airdrop here.
What are the competition rules
First and foremost, as I mentioned earlier, the competition will be divided into two league tables, which are: based on realized PnL and % (percentage) ROI.
Next, all participants must have a minimum of 5 ETH in trading volume over the course of the competition to be eligible for prize distribution. Also, to be eligible for the ROI % prizes, traders must execute at least 10 trades during the entire competition.
In addition, a single wallet will be eligible for rewards from both leaderboards, depending on the best ranking after the end of the tournament.
Another very important rule is the prohibition of multiple wallets to manipulate prizes or the use of bots, both of which can lead directly to disqualification from the competition.
Tournament sponsors
The sponsors accompanying NFTperp in this third edition of the trading championship are dYdX and Degenz.
On the other hand, dYdX is a decentralized exchange for trading perpetual contracts for digital assets. These perpetual trading contracts provide the opportunity for traders to benefit from price movements without actually owning the asset and without the constraints of contract maturity.
Finally, Degenz is a platform for traders of non-fungible tokens. This project provides comprehensive analytics and trading tools to help different investors to be able to make the best decisions in the industry.
NFTexpress wishes to make it clear that all opinions and financial information contained in this website are for informational and educational purposes only and should not be construed as investment recommendations. It is important for readers to understand that all investments involve certain risks and should conduct their own research before making any financial decisions. NFTexpress is committed to providing accurate and up-to-date information, but is not responsible for the financial decisions made by users.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.