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Introducing Trading Leagues

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Product
Trading Leagues (Updated)
Product
Product

dYdX is extremely excited to launch Trading Leagues on January 25, 2022 at 15:00 UTC.

Trading Leagues is a first of its kind product that enhances the trading experience and rewards traders with weekly prizes. While many traders are familiar with one-off trading competitions run on exchanges across the industry, Trading Leagues is a new type of competition structure that rewards elevated performance on a consistent basis.

Our ultimate vision for Trading Leagues is to bring together the world’s best traders to prove their ranks, and crown the top traders in crypto. Have you ever wondered whether a particular Twitter, Youtube, or Telegram trader you follow is actually as good as they claim? Have you ever wanted to compete with your friends competitively over P&L? Now, any trader can objectively prove how talented they truly are and share it with the world, and earn rewards for being the best.

We are thrilled to be the first crypto exchange to have ever launched a program like this, and are eager to work with the dYdX community to evolve and improve Trading Leagues over time.

League Structure

Traders compete with each other on a weekly basis, where each week is a new “season,” with the opportunity to be promoted or demoted each season depending on performance. In addition to bragging rights, each league will have specific prizes, with cash prizes that scale as you level up. Once all leagues are launched, total cash prizes will be $100,000 each week.

League entry requirements and weekly prizes are as follows:

Trading League Table

* dYdX Trading reserves the right to adjust prizes

** Traders must make at least one trade each season, or else they will be demoted

Specific cash prize breakdowns can be seen in detail here.

Seasons start and end on Tuesday 15:00 UTC each week (snapshot times are +/- 5 minutes). Traders will be automatically promoted or demoted based on the criteria above.

For further information and to review all rules, be sure to read the Terms and Conditions and Rules, and stay tuned for announcements of additional rewards in the near future!

FAQ

How do I enter dYdX Trading Leagues?

As long as you meet the eligibility requirements, your account will be automatically included in the corresponding league.

How do I claim my prize?

Prizes will be sent directly to your dYdX account within one week of the conclusion of each season.

How are traders ranked?

All traders will be ranked via their Percent PNL each week. The formula for calculating Percent PNL can be found here.

Where do I hold DYDX or stkDYDX ?

Simply hold DYDX or stkDYDX on Ethereum in the wallet associated with your dYdX account.

How long do I need to hold DYDX or stkDYDX ?

For Gold, Platinum, and Diamond leagues, entrants will need to hold at least 100 tokens when the snapshot is taken at the beginning of each season. If a trader is below the entry requirements when the snapshot is taken, the trader will be demoted.

Can I have open positions prior to the start of the competition?

Yes, as long as the total equity of your account is greater than or equal to the Minimum Starting Balance of your league. Your Percent PNL (strictly for the purposes of rank) will be reset at the beginning of the season.

How many leagues will exist on the launch date (January 25, 2022)?

Just one (Bronze). Traders will have to work their way up each week to get promoted. dYdX will launch a new league each week until the Diamond league has been launched.

What happens if I don’t meet the eligibility requirements at the start of a season?

Traders will be demoted to the league they meet the entry requirements for.

How do demotions work?

If a trader gets demoted, they will drop to the league they are eligible to be in, accounting for the eligibility requirements of each league.

As an example, a trader in Diamond can get demoted to Bronze if the trader does not have a high enough equity balance when the snapshot is taken to commence the next season. Similarly, a trader in Diamond can get demoted to Silver if their DYDX / stkDYDX balance is below the minimum threshold.


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.