It’s time: Thales’ first trading competition

Let the games begin!

As we announced in our , today we are giving the green light to our first trading competition and we couldn’t be more excited about it.

With a total prize pool equivalent to over 50,000 thousand dollars (scroll down for a prize pool breakdown) we are eager to see the strategies our participants will develop in their journey to the top!

Bring those strategies into the arena!

This trading competition will be held on Ethereum mainnet and will last from October 11th, 10:00AM UTC until November 1st, 10:00AM UTC, when all the qualifying markets expire.

If you still haven’t registered . You’ll need a Twitter account for the verification process (to avoid spam registrations) and can register at any time before the competition ends.

So… are you ready to know some of the ground rules?

No punches below the belt 👊

First things first. We are organizing this trading competition so more people can try out and get used to its order book based , while we continue to direct our efforts into Layer 2 expansion.

We are doing this to the best of our intentions and we hope everyone who joins does so with a sportsmanship spirit.

But… just in case we detect malicious behavior during this competition we reserve the right to disqualify entrants.

Cheaters, you have been warned!

Two ways to win

For this competition the total prize pool it’s going to be split into two categories, net profit and gain (%). The idea behind this is that people on a small bankroll but with interesting strategies will also have the chance to win on the gain (%) category and those willing to bring the guns can fight over in the net profit category.

Net profit and gain (%)

Qualifying markets

While this competition lasts Thales dapp will continue to have its regular markets but only 14 of those will count towards the competition score in both categories (net profit and gain).

The will have a distinctive icon on Thales dapp and will be:

Amount of ETH burned: 3 markets

ETH burned count >= 640,000 @ Nov 1, 2021:

ETH burned count >= 690,000 @ Nov 1, 2021:

ETH burned count >= 740,000 @ Nov 1, 2021:

Maturity date: Nov 1st, 10:00AM GMT

ETH/BTC market cap ratio: 3 markets

ETH/BTC market cap ratio >= 0.36 (36%) @ Nov 1, 2021:

ETH/BTC market cap ratio >= 0.41 (41%) @ Nov 1, 2021:

ETH/BTC market cap ratio >= 0.46 (46%) @ Nov 1, 2021:

Maturity date: Nov 1st, 10:00AM GMT

BTC weekly: 3 markets

BTC > $50,000.00 @ Oct 18, 2021:

BTC > $55,000.00 @ Oct 18, 2021:

BTC > $60,000.00 @ Oct 18, 2021:

Maturity date: October 18th, 10:00AM GMT. Then renew for October 25th and November 1st.

ETH weekly: 3 markets

ETH > $3,200.00 @ Oct 18, 2021:

ETH > $3,600.00 @ Oct 18, 2021:

ETH > $4,000.00 @ Oct 18, 2021:

Maturity date: October 18th, 10:00AM GMT. Then renew for October 25th and November 1st.

SNX weekly: 2 markets

SNX > $8.50 @ Oct 18, 2021:

SNX > $12.00 @ Oct 18, 2021:

Maturity date: October 18th, 10:00AM GMT. Then renew for October 25th and November 1st.

Prize pool

For this trading competition the total prize pool is composed of:

Prizes to be distributed:
- 25,000 THALES tokens
- 1,500 SNX tokens (courtesy of Synthetix treasury)
- 10,000 ZRX tokens (courtesy of 0xDAO)
- Thales NFTs:
, , , and .
(If you need a reminder of how those NFTs are going to be distributed please
)

All of this, at the time of writing, is equivalent to over 50,000 USD.

Do we need to say it? #Winning

And the exact distribution, rewarding the top 20 places of each category (net profit and gain) will be as follows:

Top 20 places for each category: Net profit and gain (%)

A reminder of how to use Thales dapp

You can find detailed guides in .

This is going to be especially useful if this is your first time using Thales dapp.

If you get stuck at any point or have any questions please and let us know how can we help you.

Now it's your time to shine on the arena.

Let the games begin! 💪

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Thales

Thales is an Ethereum protocol that allows the creation of novel on-chain, permissionless, and non-custodial Parimutuel Markets.