Introducing OolongSwap Trading Competition — Half a Million Worth of Rewards
Time flies and we will soon be entering the third phase of WAGMI incentive program — WAGMIv2! This time, Boba team provided the highest amount of WAGMI incentives since the beginning of WAGMI program and to spice things up even more, we are introducing a NEW KPI and a NEW WAY to earn WAGMI tokens!!
Volume and trading competition
In WAGMIv2, the KPI will be the total trading volume for OolongSwap in the month of April. Users will be able to redeem WAGMIv2 for BOBA at a at least 1:1 ratio — and when the total monthly trading volume is $25M or above, users will be able to redeem WAGMIv2 for BOBA at a 1:2 ratio!
There are two ways users can earn WAGMIv2 token this round:
- Through the good old LP farming (75% of the total WAGMIv2 rewards)
- Through Oolong trading competition
We will be allocating 25% of the total WAGMIv2 tokens (around 200K of WAGMIv2 tokens; that’s around $270K worth of value if redeem at a 1:1 ratio and around $540K if redeem at a 1:2 ratio!!!) to this trading competition!
How does it work?
The rules are simple and straightforward, trade any of the following pairs during the time of WAGMIv2 (from early April to April 30th; exact start time will be released soon) and top 100 participants that have the highest total trading volume at the end of the April will share the prize pool of ~200K WAGMIv2 tokens as rewards. There is no whitelist or sign-up required for anyone to participate in the trading competition.
*Only trades that occur in the same wallet address will be counted toward the final result, so if you’d like to participate, make sure you stick to 1 wallet address during the time of trading competition.
*The value of the tokens (hence affecting the volume) is based on the time when results are calculated.
How are users rewarded
1st — 10th place (account for a total of 70% of the 25% WAGMIv2 distributed to trading competition)
#1: 33750 WAGMIv2
#2: 26250 WAGMIv2
#3: 18750 WAGMIv2
#4: 13125 WAGMIv2
#5: 11250 WAGMIv2
#6: 9375 WAGMIv2
#7: 7500 WAGMIv2
#8: 5625 WAGMIv2
#9: 3750 WAGMIv2
#10: 1875 WAGMIv2
11th — 50th place (account for a total of 20% of the 25% WAGMIv2 distributed to trading competition)
#11–50: 937.5 WAGMIv2 per person
51st — 100th place:(account for a total of 10% of the 25% WAGMIv2 distributed to trading competition)
#51–100: 375 WAGMIv2 per person
WAGMIv2 incentives and trading competition will start early April, the date and time will be revealed soon, follow us closely on social media! ;)
Lastly, here’s a recap to Oolong AMA on Trading Competition
OolongSwap is the biggest DEX on Boba Network, a layer-2 Ethereum scaling solution. As Boba’s first native AMM, it is Oolong’s mission to create the best exchange, best user experience, and deepest liquidity on Boba as our motto is “more to earn, less to spend”. Aside from the regular DEX features, we have also introduced features such as dynamic pair fees to offer users lower trading slippage, multea farm for users to earn double the rewards with the same investment capital and PCV and bonding to offer a sustainable future for Oolong. Our vision is to become the gateway between Boba and the rest of DeFi world, expanding the Boba ecosystem and help new and experienced DeFi users alike find their crypto home.