Legends Competition: Survival of the Bear will be the first trading competition held on dYdX; winner is awarded $30,000 USDC and 1 Hedgie NFT
NEW YORK, July 6, 2022 /PRNewswire/ -- dYdX Trading Inc., developer of the leading decentralized derivatives exchange, dYdX, today announced the Legends Competition: Survival of the Bear ("Legends Competition"), the inaugural influencer trading competition that will be hosted on the dYdX protocol. The Legends Competition will pin notable crypto Twitter influencers and traders against one another for cash prizes and bragging rights.
The week-long competition began today at 14:00 UTC and will see traders battle to achieve the highest percentage P&L before Wednesday, July 13 at 14:00 UTC. Each contestant will start with $2,500 USDC in their account courtesy of dYdX. The top three contenders will win $30,000 USDC, $15,000 USDC, and $5,000 USDC, respectively. Each winner will also receive one Hedgie–an exclusive dYdX NFT, and all contestants can keep their initial $2,500 USDC and any profits generated. P&L rankings will be determined by formulas for Dollar PNL and Percent PNL.
dYdX CEO and Founder, Antonio Juliano, commented on today's news, "The competition is set to bring some of the brightest minds in trading into a competition with legitimate stakes. dYdX is the best place to trade on a decentralized exchange, and we are excited to not only see premier traders battling on our protocol, but also showcase their abilities and provide insights into their philosophies."
Throughout the competition, dYdX will host Twitter Spaces with various contestants to discuss their trading strategies and opinions on current market conditions. The Spaces are a great opportunity for the dYdX community to navigate markets together.
A leaderboard will be updated hourly at https://trade.dydx.exchange/rankings/legends.
For more information, please visit: https://dydx.exchange/blog/legends-competition
About dYdX
dYdX is the developer of a leading decentralized exchange on a mission to build open, secure, and powerful financial products. dYdX runs on audited smart contracts on Ethereum, which eliminates the need to trust a central exchange while trading. We combine the security and transparency of a decentralized exchange, with the speed and usability of a centralized exchange.
Media Contact
Dillon Arace
M Group Strategic Communications (for dYdX)
+1 315 512 6886
[email protected]
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