Flamingo is hosting an upcoming Testnet Trading Competitors, designed to facilitate making an are attempting out of its original block-basically based entirely, on-chain OrderBook+ on Neo N3. The competition runs from Jan. 13 at 2:00 p.m. (UTC) to Jan. 27 at 2:00 p.m. (UTC), offering participants the prospect to assemble a portion of a 200 GAS reward pool, valued at over US $1,000 on the time of writing.
Competitors Overview
The match is aimed at stress-making an are attempting out the OrderBook+ protocol by encouraging increased trading volumes and identifying doable bugs ahead of its MainNet open. The aim for participants is to amass the most competition TestNet USDT by the discontinue of the match, which is in a position to determine their portion of the GAS prize pool.
OrderBook+ combines AMM performance with limit orders, creating a decentralized trading protocol with CEX-love capabilities, in conjunction with tighter spreads and market and limit orders—all whereas final entirely on-chain. After the MainNet open, all Flamingo swaps will route thru the OrderBook+, consolidating liquidity and optimizing GAS costs.
Take half
People must manufacture a pre-filled competition wallet, on hand by potential of Flamingo’s Discord server. There will doubtless be 100 pre-generated wallets, every containing 50 GAS and 10,000 USDT TestNet funds. Early glean entry to wallets are being distributed to long-term Flamingo group contributors, with final wallets on hand to the public starting up Jan. 13 at 2:00 p.m. (UTC).
People will compete the utilization of these wallets, trading with testnet tokens equivalent to WBTC, USDT, FLM, WETH, BNB, XRP, DOGE, SHIB, and PEPE. A designate bot will hold parity with costs on centralized exchanges.
Key principles consist of:
- People must seek recordsdata from a wallet in Flamingo’s Discord #testnet-funds channel.
- All trades must be conducted with the competition wallet’s TestNet funds.
- Bugs must be reported by potential of tickets in Flamingo’s Discord server.
- Pockets balances must be withdrawn from the orderbook contract on the discontinue of the competition.
- Users who glean a wallet nonetheless fail to design trades is now now not going to be eligible for rewards.
Bounties and rewards
People can list bugs at some stage within the competition, with bounties awarded in response to severity:
- Severe contract bugs (e.g., loss of user funds): 10,000 bonus USDT
- Medium contract bugs (e.g., parts now now not working): 2,000 bonus USDT
- Frontend bugs: 10–500 bonus USDT in response to impression.
Replica malicious program reports is now now not going to qualify for bounties. People can even glean a multiplier on their final USDT stability in response to their alternate quantity, with the absolute top-quantity trader receiving a 2x multiplier, cutting down for others.
At the competition’s discontinue, GAS rewards will doubtless be distributed proportionally in response to every participant’s portion of the entire competition TestNet USDT provide. For instance, a user preserving 50% of the entire USDT would glean 100 GAS, whereas a user preserving 1% would glean 2 GAS.
The RC6 TestNet version of OrderBook+ introduces original pools and tokens, making sure a new environment for making an are attempting out. The Flamingo group will expend suggestions from the competition to refine the machine earlier than its MainNet debut.
The elephantine announcement might per chance well be realized on the below hyperlink:
https://medium.com/flamingo-finance/assemble-over-1-000-in-gasoline-in-flamingos-orderbook-testnet-trading-competition-49a124ecea25
