Perpetual Protocol

The Clash of L1s, the trading competition for Perp v2 mainnet, will pit five teams representing five popular Layer 1 blockchains against each other in a two-week long battle. Each team will compete for a chance to win prizes from a pool of up to 15,000 PERP!Check out <a href="https://blog.perp.fi/recap-of-the-perpfect-game-perp-v2-testnet-trading-competition-ae0ff36b19ef" rel="noopener noreferrer nofollow">our recap</a> of the Perpfect game v2 testnet trading competition, which attracted over 2,800 participants.To make the most of the Clash of L1s competition, you should recruit more participants to increase the prize pool. Want to learn more? Check out the rules below! <h2 id="header-0">Prizes</h2>The entire prize pool is 15,000 PERP!As more people join the competition, the prize pool gradually increases, with every additional 100 participants unlocking 10% of the prize pool (1,500 PERP). The total prize pool for the Clash of L1s competition can potentially reach 15,000 PERP!The unlock thresholds are summarized below:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3942b9fdf5d84d3a9cb2c8f3b06a3c60.png" />How are the prizes shared between participants?There will be three winning categories for the Clash of L1s, with an initial prize pool of 500 PERP for each:<ol><li>Highest profits,</li><li>Highest trading volume,</li><li>Highest losses.</li></ol>Selecting a team will be an important decision, since the PnL and volume of each trader and their team are boosted by 10% for their ‘home markets’. For example, if you’re on Team ETH, then all of your trades for ETH-USD will be boosted by 10% in terms of PnL and volume.If you’re a member of the winning team for any of these three categories, you’ll share the pool with your teammates and we’ll distribute prizes based on each member’s weighted metric.For example, suppose that Team ETH wins the prize for the highest volume traded. If you’ve contributed the most to the team’s volume, then you’ll get a higher payout. Let’s say your trading volume was $1M and the team’s total volume was $10M, then you’d receive 10% of the highest trading volume prize pool.If your team wins the highest profit category at the end of the Clash of L1s, the rewards you receive depends on how much of the profit you generated relative to the rest of your team. Let’s say your team generated a total profit of $500K and your contribution was $50K, then you’d get 10% of the prize pool. Total profit refers to the combination of realized PnL (tx fees included), unrealized PnL, maker fees and funding payments.It’s in everyone’s best interests to invite more people to join Clash of L1s, as the value of each prize pool increases in line with the number of participants (up to a maximum of 5,000 PERP for each category!).Once the competition starts, you can check your potential rewards on the leaderboard page <a href="https://leaderboard.perp.com/" rel="noopener noreferrer nofollow">here</a>.Note: Please be aware that the numbers on the trader page are not finalized until the Clash of L1s has concluded. You need to generate $10,000 in cumulative trading volume during the competition to claim any prizes. The prizes will be distributed to winners via the Optimism network around one week after the end of the competition.<h2 id="header-1">Duration</h2>The game will start on Jan 25th (Tue.) at 2:00 PM (UTC) and ends on Feb 8th (Tue.) at 2:00 PM (UTC). Check the starting time in your timezone <a href="https://www.timeanddate.com/worldclock/converter.html?iso&#61;20211026T140000&amp;p1&#61;236" rel="noopener noreferrer nofollow">here</a>.Make sure you close any active positions when selecting your team. It’s recommended that you deposit your assets (ETH and USDC) to Optimism before the start of the game.<h2 id="header-2">How to Join the Clash of L1s</h2><h3 id="step-1-pick-a-team">Step 1. Pick a team</h3>Once the Clash of L1s commences, the first step is to go to <a href="https://leaderboard.perp.com/onboarding" rel="noopener noreferrer nofollow">leaderboard.perp.com/onboarding</a> and enter your Ethereum address.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2cc2dcf5198f48e3840e47676ad4a10f.png" />Pick one of five teams representing different Layer 1 blockchains, selecting from BTC, ETH, SOL, AVAX or LUNA. Consider carefully which team you pick, since trading your ‘home market’ will boost your PnL and volume traded by 10%.For example, if you join Team BTC, then the PnL and volume for each of your Bitcoin trades will be boosted by 10%. Also, if Team BTC trades a total of $1M across all markets, but $500K of that volume was generated for BTC-USD, then the team’s overall volume will be counted as $1.05M (&#61;$500K &#43; $500K*110%).Note: you must not be actively providing liquidity or have any open positions before you register with a team.<h3 id="step-2-send-a-tweet-to-join-a-team">Step 2. Send a tweet to join a team</h3>Tweet to join the Clash of L1s and declare loyalty to your team.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/69c2cadd13c24e7382f2c1dea4596dd0.gif" />To increase your potential earnings, you can invite others to join the competition (since more participants increases the prize pool). Once you’ve registered, you’ll be able to start trading and share your team banner to recruit more teammates.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/5109dae55ad7421a980d9119b4c784f1.png" /><h3 id=""></h3><h3 id="step-3-deposit-usdc-via-optimism">Step 3. Deposit USDC via Optimism</h3>Since Perp v2 is built on <a href="https://www.optimism.io/" rel="noopener noreferrer nofollow">Optimism</a>, you’ll need to transfer a small amount of ETH (for the L2 fees) and USDC (for collateral to trade with) using a bridge such as <a href="https://gateway.optimism.io/" rel="noopener noreferrer nofollow">Optimism Gateway</a>. Alternatively, you can use any of the bridges suggested <a href="https://www.optimism.io/apps/bridges" rel="noopener noreferrer nofollow">here</a>.Once you have some ETH and USDC on Optimism, you can then deposit the USDC into the Clearing House on <a href="https://app.perp.com/" rel="noopener noreferrer nofollow">app.perp.com</a>.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6c3da8cfd4344e0faf9c9b9d921c901f.png" /><h3 id=""></h3><h3 id="step-4-start-trading">Step 4. Start trading</h3>After depositing USDC to Perp v2, you’re then ready to compete!Start trading BTC, ETH, SOL, AVAX &amp; LUNA on <a href="https://app.perp.com/" rel="noopener noreferrer nofollow">app.perp.com</a> from Jan 25th, 2:00 PM (UTC) for a chance to win prizes!You can check the leaderboard to see the current rankings, or view your trader page to see what team you’re on, your cumulative volume, realized PnL and potential rewards. Participants must make at least one trade to be eligible for any prizes.Check out our in-depth guides on <a href="https://blog.perp.fi/how-to-trade-on-perp-v2-f9eaaa32203d" rel="noopener noreferrer nofollow">how to trade</a> and <a href="https://blog.perp.fi/how-to-provide-liquidity-on-perp-v2-9064ed085d7f?source&#61;user_profile---------6-------------------------------" rel="noopener noreferrer nofollow">how to provide liquidity</a> on Perp v2.If you’re still confused about the rules and don’t know where to start, we’ll be hosting a <a href="https://www.youtube.com/watch?v&#61;rZ-mrT3_zAI" rel="noopener noreferrer nofollow">live workshop</a> on Jan 26th (Wed.) at 9:00 AM (UTC) to walk you through everything you need to know about the Clash of L1s! Add this event to your calendar <a href="https://calendar.google.com/event?action&#61;TEMPLATE&amp;tmeid&#61;MWVnZWdoMXRvOGxhOXRqcG9mMHBlN2ZsZmEgY19kbnE5aXN1MG5tN2xpNTI1cWJqZ2FxNDRka0Bn&amp;tmsrc&#61;c_dnq9isu0nm7li525qbjgaq44dk%40group.calendar.google.com" rel="noopener noreferrer nofollow">here</a>.To reward all participants that make at least one trade during the Clash of L1s, we’ll be giving away limited edition NFTs of each team’s character!<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/53a45d6275054555974c6b65f49854b7.gif" />If you have any feedback or questions, please reach out via the <a href="https://discord.gg/YQFRXgajHm" rel="noopener noreferrer nofollow">#feedback channel</a> of <a href="https://discord.perp.fi/" rel="noopener noreferrer nofollow">our Discord</a>.

Compete in the Clash of L1s: Perp’s v2 Mainnet Trading Competition

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Perpetual Protocol

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