DEG Merge Competition Rules
Last updated September 6, 2022
This DEG Merge Competition (the “Competition”) is subject to the Trading Competition Terms and Conditions (the “Trading Competition Terms and Conditions”) and the following rules (the “Rules”):
Schedule
This Competition will start on September 13, 2022, between 12:55 and 13:05 UTC (the “Start Time”), and end on September 20, 2022, between 12:55 and 13:05 UTC (the “End Time”).
The Start Time within the timeframe identified above and End Time within the timeframe identified above will be determined in the sole discretion of dYdX Trading Inc. (“dYdX”).
Eligibility
To be eligible for any prizes, you must:
Be selected by dYdX and notified by dYdX in writing of such selection;
Agree to these Rules and complete the information required on this Google Form prior to September 12, 2022 at 13:00 UTC; and
At the Start Time, have at least two thousand (2000) USD Coin (“USDC”) in your dYdX account.
A maximum of fifty (50) persons will be eligible to participate in this Competition.
Ranking
Your ranking will be based on the percentage change in profits and losses beginning at the Start Time and ending at the End Time in accordance with the formula set forth in Leaderboard Calculations (“Ranking”). Your Ranking will be displayed on the DEG Merge Competition leaderboard.
Prizes
You will receive the USDC prizes (“USDC Prizes”) and Hedgie (as defined in that certain Hedgies License Agreement, as amended from time to time (the “Hedgies License Agreement”)) (“Hedgie Prize”) set forth in the table below based on your Ranking as of the End Time:
Ranking | USDC Prizes | Hedgie Prize |
1 | 5,000 | 1 |
2 | 3,000 | 1 |
3 | 2,500 | - |
4 | 1,000 | - |
5 | 1,000 | - |
6 | 500 | - |
7 | 500 | - |
8 | 500 | - |
20 | 1,000 | - |
Hedgie Prize will be transferred to the Ethereum network address that is linked with your STARK public key on the dYdX protocol within approximately thirty (30) days following the End Time, or promptly thereafter. Upon receiving your Hedgie Prize, you agree that you are bound by, and are a party to, the Hedgies License Agreement.
USDC Prizes will be paid in USDC to your dYdX account on the dYdX protocol within approximately seven (7) days following the End Time, or promptly thereafter.
Receipt of any prizes is conditioned on your compliance with these Rules and the Trading Competition Terms and Conditions.
Taxes
ANY USDC PRIZE YOU RECEIVE IS NET OF TAXES PAYABLE ON SUCH PRIZES IN THE UNITED STATES. In accordance with the Trading Competition Terms and Conditions and applicable tax laws, dYdX will withhold thirty percent (30%) taxes from all USDC Prizes. We do not anticipate that any personal information will be submitted to a governmental agency in connection with such tax withholding.
Miscellaneous
dYdX may revise these Rules, including any prizes, and publish amended versions thereof from time to time. dYdX may, in its sole discretion, terminate this Competition at any time with or without notice.
Any inconsistencies between these Rules and the Trading Competition Terms and Conditions will be governed by these Rules.