Gravity DEX, a decentralized exchange for the Cosmos ecosystem, has announced that registration for a testnet trading competition with a $ 200,000 prize pool is now open until April 30.
This test net competition is a way for traders to familiarize themselves with the platform while stress testing gravity under market conditions prior to the mainnet launch.
Recently acquired by Tendermint, Gravity is an advanced interchain DEX. It uses the Inter-Blockchain Communication (IBC) protocol, enabling swaps and pools of digital assets between any two blockchains within the Cosmos ecosystem or beyond. Gravity also achieves superior efficiency compared to other AMMs thanks to the unique Equivalent Swap Price model.
The competition will run from May 4 to May 11 with prizes awarded on May 18 …
Each participant will receive testnet tokens totaling USD 10,000 in ATOMs and USD 10,000 each in 3 randomly selected assets from our Cosmos sponsors and other Ethereum tokens.
During the competition, participants can:
- Deposit tokens into pools to earn rewards.
- Trade tokens with the aim of maximizing their returns.
Participants are scored on both their activity and simulated earnings. A scoreboard will rank the participants during the competition and at the end the best 1/3 of the participants will receive prizes commensurate with their final rankings.
The $ 200,000 prize pool includes 4,000 ATOMs plus $ 10,000 USD each in 10 sponsored assets of the Cosmos ecosystem.
An additional 1,000 ATOMs are available for bug rewards and economic exploitation rewards. Prizes are awarded based on an assessment of each report.
To register, participants must provide their Cosmos test net address for trading activities and their Cosmos Hub main address to receive prizes.
Sponsored prizes will be distributed to each winner’s address on their own network, created by the same mnemonic (private key) used for the Cosmos Hub main address for ATOM prize-sharing.