Synthetix and Kwenta are extremely excited to launch the Kwenta Testnet Futures Trading Competition. This competition will act as a demonstration of how perpetual futures trading on Kwenta will feel as we continue to refine the experience and prepare for the mainnet launch.

Futures on Kwenta are unique in that they are built entirely using decentralized technology with the Synthetix protocol. Traders will benefit from the deepest liquidity available on the market for all assets, zero downtime during points of volatility, a completely permissionless product, and, eventually, futures for a wide variety of assets outside of the cryptocurrency ecosystem.

Participants will be eligible to win part of a 50,000 sUSD prize pool and rare Kwenta NFTs in prizes. The competition will be hosted on Optimistic Kovan, which is a testnet on Optimism's Layer 2 solution. Traders will need to use only perpetual futures positions for sETH, sBTC, and sLINK to generate profit and reach the top of the leaderboard.

Competition rules

How to win:

Generate the most amount of profit with Kwenta’s future’s product, working your way as high up the leader as possible.

Prizes:

  • 1st place: 15,000 sUSD worth paid in SNX + Rare Kwenta NFT
  • 2nd place: 7,000 sUSD worth paid in SNX + Rare Kwenta NFT
  • 3rd place: 3500 sUSD worth paid in SNX + Rare Kwenta NFT
  • 4th-20th place: 500 sUSD worth paid in SNX
  • 21st-100th place: 200 sUSD worth paid in SNX

NFT winners will be able to use their NFT to gain access to private groups and hidden features in Kwenta. All competition participants will also be able to acquire a POAP. The prizes listed above are guaranteed; however, there may be additional prizes…

End Time:

The competition will run for 1 week.

Edit: The competition duration has been shortened to 1 week due to a mandatory regenesis of the Optimism Kovan Testnet. The new end time is provided in the widget below.

Time converter at worldtimebuddy.com

Bounties:

The awarding of competition prizes will be at the discretion of the Kwenta Core Contributors, specifically to exclude any traders who exploit a bug to increase their wallet balance. Anyone who discovers a bug relating to the Synthetix contracts during the competition will be eligible for a bug bounty if they report it responsibly. To submit a bug bounty, visit the Kwenta Discord and post in the #Bug-Bounty channel under the Testnet Competition category.

Get Started:

Before you begin the registration process, please make sure your web3 wallet is setup. With your web3 wallet setup, you can start registering by heading to the Futures Competition Portal. First-time users will have to go through our competition onboarding process, aka registration; completing this will grant traders the $10,000 Testnet sUSD and ETH they need to begin competing. With these steps accomplished, traders will be dropped into the Kwenta Futures Platform and can start trading; we wish you the best of luck!

Tutorials:

For those who seek additional support getting up and running, or would like a greater understanding of the basic concepts of Futures Trading, and navigating/understanding the platform, Kwenta Core Contributors have made detailed walkthroughs for everything Kwenta Futures; these guides can be found below:

  1. Installing MetaMask & setting up MetaMask
  2. Testnet Futures Onboarding Process
  3. Trading on Kwenta Futures
  4. In-depth Futures Dashboard Analysis
  5. Basic Futures Concepts

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To trade synthetic assets and soon futures, visit Kwenta.