SCRT Trading League
21 December, 2023, 09:00AM UTC - 21 January, 2024, 09:00AM UTC
How To Play
Step 1: Register
Visit the SCRT Trading League page and click the “Register” button to participate in this event.
Step 2: Trade Big, Win Big!
Once you’ve registered for the event, it’s time to start trading perpetuals! As this is the SCRT Trading League, you can earn more points by trading on the SCRT-PERP market.
For every 1 USD of trading volume (factoring in leverage), you will earn:
| Markets | Points |
|---|---|
SCRT Perpetual Market | 3 |
Other Perpetual Markets | 1 |
Trade large volumes to accumulate more points!
Step 3: Rise Up The Leaderboard!
Keep an eye on the leaderboard to track your progress in terms of your ranking and points during the event. The top 20 participants on the leaderboard will take home prizes in SCRT.
FAQs
How do I bridge USDC from Secret network to Carbon network to begin trading on Demex?
For Secret Community members new to Demex, accessing perpetual trading requires a stablecoin as margin to begin trading. Carbon's stablecoin is USD, which consists of native USDC and axlUSDC.
Follow these steps to bridge and deposit your axlUSDC onto Demex:
1. Bridge over your USDC.axl from Secret Network to Osmosis using the Shade App’s bridge.
2. Once it is bridged to Osmosis, go to Demex's deposit page, connect your Keplr or Leap wallet, and you can deposit axlUSDC from Osmosis network.
3. Your USDC.axl will be auto-converted at a 1:1 ratio to USD(G), and you can also withdraw USD(G) to USDC.axl at any time.
4. Congratulations! You are now ready to trade on the SCRT-PERP market or provide liquidity to the SCRT Perp Pool.
How do I calculate my points?
Collect points based on your trading volume on all perpetual markets. Points are calculated based on the perpetual market you are trading on. SCRT-PERP market is awarded higher points specially for this SCRT Trading League event.
For every 100 USD (after leverage) on the following markets, a trader will earn:
| Markets | Points |
|---|---|
SCRT Perpetual Market | 3 |
Other Perpetual Markets | 1 |
What if I open a position before the event starts?
Your position will not be counted. Only positions opened and closed during the event duration will be counted for your points on the leaderboard, as long as you have successfully registered.
What if I trade before registering?
Your trades before registering will not be counted. Please complete your registration before trading to be counted in the Leaderboard.
What are the prizes and how is it distributed?
There is a prize pool of 12,000 $SCRT up for grabs! The next prize pool level will unlock when the cumulative trading volume of all the users registered for the event reaches the levels shown in the table.
| Cumulative Trading Volume | Total Prize Pool (SCRT) |
|---|---|
<2.5M | 4,000 $SCRT |
2.5M - 5M | 8,000 $SCRT |
> 5M | 12,000 $SCRT |
Prizes will be distributed across the top 20 on the leaderboard, based on the prize pool depending on the cumulative trading volume of all participants.
Cumulative volume is the ongoing sum of all trading activities conducted by participants on a day-by-day basis, starting from the beginning of the event and accumulating throughout its entire duration.
| Leaderboard Ranking | No of winners per rank | Prize | Prize Allocation in SCRT(Assume prize pool is 12,000 SCRT) | Prize per user in SCRT (Assume prize pool is 12,000 SCRT) |
|---|---|---|---|---|
1 | 1 | 30% | 3600 | 3600 |
2 | 1 | 20% | 2400 | 2400 |
3 | 1 | 12% | 1440 | 1440 |
4 | 1 | 8% | 960 | 960 |
5 | 1 | 7% | 840 | 840 |
6 | 1 | 6% | 720 | 720 |
7 | 1 | 5% | 600 | 600 |
8 | 1 | 4% | 480 | 480 |
9 | 1 | 2% | 240 | 240 |
10 | 1 | 1% | 120 | 120 |
11 to 15 | 5 | 3.33% | 400 | 80 |
16 to 20 | 5 | 1.67% | 200 | 40 |
Sum | 20 | 100% | 12,000 $SCRT | 12,000 $SCRT |
Prizes will be credited to the winners’ wallet addresses on Demex as $SCRT tokens.
Terms and Conditions
Demex reserves all rights to the final interpretation of this event. This includes but is not restricted to, the right to disqualify orders or users that are deemed fraudulent and to amend any event rule, guideline, or activity at our sole discretion.
The event will begin on 21st January 2023, 09:00 AM UTC, and end on 18th January 2024, 09:00 AM UTC.
All current and new users are eligible to join this event. However, users located in these regions are ineligible to participate in this event.
Only trades executed after you have successfully registered (within the event duration) will be counted.
Only positions that have been opened and closed on perpetual markets during the event duration are counted. For example, a position opened before the event’s start date will not be counted. Similarly, a position opened after the end date will not be counted either.
The prize pool is variable and will increase with the cumulative trading volume of all participants. The top 20 ranking participants on the leaderboard will take home prizes. Refer to the FAQs for more information.
Prizes will be airdropped to winners as $SCRT tokens to the Carbon wallet addresses used for participation, within 90 days from the end of the event.
Terms and conditions can be changed at any point, as deemed necessary, to ensure a fair event for all participants.
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