In Brief:
- gTrade launches the “Trick or Trade” competition, running from October 22 to November 19, exclusively on the Arbitrum network.
- The competition, fueled by a $400,000 prize pool, is divided into two categories: a P&L Competition with a $200,000 prize pool and a Volume Competition also with $200,000 up for grabs.
- This initiative follows gTrade receiving 4.5 million ARB tokens through the STIP incentive program, aiming to consolidate liquidity on Arbitrum.
Gains Network Focuses on Arbitrum with New Trading Competition
gTrade, developed by Gains Network, has unveiled a new Halloween-themed trading competition titled “Trick or Trade,” scheduled exclusively on the Arbitrum network from October 22 to November 19. This event marks a significant effort by gTrade to enhance liquidity and engagement on its preferred and most active blockchain platform.
Strategic Focus on Arbitrum
Despite gTrade’s functionality across multiple blockchains, the choice to host this competition solely on Arbitrum was strategic. Arbitrum is noted for having the deepest liquidity and the majority of gTrade’s trading volume. By channeling the contest exclusively through this network, gTrade aims to consolidate its liquidity further while maintaining its multi-chain capabilities for diverse user needs.
Details of the Competition and Funding
The “Trick or Trade” competition boasts a total prize pool of $400,000, funded through gTrade’s own protocol resources along with tokens received from incentive programs. Specifically, the competition comprises two main segments:
- P&L Competition: Traders will compete over a $200,000 prize pool, ranked by realized or withdrawn profits and losses (P&L) across all trading pairs. Eligibility is limited to positions opened and closed on Arbitrum using USDC as collateral.
- Volume Competition: This segment also offers a $200,000 prize pool and rewards traders based on their cumulative trading volume, with a focus on longer-held positions through a time-weighted multiplier.
Commitment to the Trading Community
“We designed this competition to celebrate our Arbitrum traders and continue building on the network where our liquidity is strongest,” explained Nathan, Project Lead at Gains Network. He emphasized the dual benefit of enhancing trading efficiency on Arbitrum while also rewarding the community that has supported gTrade’s growth.
Long-term Strategy for Arbitrum Presence
The “Trick or Trade” competition is not just a periodic event but a reflection of gTrade’s long-term commitment to strengthen its influence and operational presence on the Arbitrum network. This is aimed at providing traders globally with robust decentralized trading tools and a reliable platform for engaging with digital markets.