Shield, the leading decentralized derivatives protocol, now features a new homepage, upgraded features, and interesting behind-the-scenes information to provide useful insight into the world of DeFi. Now, with perpetual options, Shield is also offering the first long-term on-chain options that do not require rolling positions and are free from the effort, risk, or expense of doing so.
With their tremendous value, these perpetual options can be utilized as a unique and optimal trading instrument across a wide range of market trends that bring forward a new era for on-chain derivatives traders. As the perpetual options are all set to be launched, Shield is now calling all traders to give them a try, with a whopping 100,000 SLD up for grabs through the Shield Genesis competition.
Are you excited to get some great rewards through the competition? Here’s everything you need to know.
Shield Genesis Competition
- Competition period
The competition stage will be held from 18 August 2021 to 31 August 2021, while the token distribution stage will be held on September 13.
- Earning entries in the Shield Genesis Competition
The rules for earning points in the Shield Genesis competition are as follows:
- Every time a user invites another user to participate in the trading competition, they can earn ten entries. However, note that each wallet address can invite not more than ten addresses to participate during the competition period.
- For every position opened or closed during the competition period, traders will get one entry. Each wallet address can get a maximum of 20 entries per day.
- To earn entries for balance ranking, the rules are as follows:
- No 1: 1000 entries
- No 2 – No 10: 800 entries
- No 11 – No 30: 500 entries
- No 3 – No 100: 280 entries
- Prizes
During the contest, Shield perpetual options traders will be ranked based on their referral entries, trade frequency, and realized profit between eligible BTC-USDC trading pairs. As part of the competition, the Top 100 traders will also be eligible for a prize pool of 100,000 SLD tokens.
The reward structure for the competition is as follows:
- No 1: 10,000 SLD
- No 2 – No 5: 5,000 SLD each
- No 6 – No 10: 2,000 SLD each
- No 11 – No 50: 1,000 SLD each
- No 51 – No 100: 400 SLD each
How to participate and where to trade?
To participate in the Shield Genesis Competition, first, go to the Shield official website. On visiting the website, users can claim 50,000 testnet – USDC as the original balance to trade BTC-USDC trading pair.
Net profit will be calculated as follows:
Net profit calculation = Realized Profit (USDC)
All orders must be closed before the competition ends (13:00 August 31 UTC). If orders are left open after this time, they will be automatically calculated based on the Chainlink price feed at 13:00 UTC snapshot, which may affect the final rank.
Terms and Conditions
The Shield Genesis competition is subject to the following terms and conditions.
- Each participant’s P&L, referrals, transaction, and rank will be displayed on the landing page and updated every 10 minutes.
- Account assets deposited from other wallets will not be valid at the end of the competition.
- Each account should complete at least one trade (open position & close position) during the competition period to be eligible for the final rank.
- Prize distribution will take place within 15 days after the competition ends, and all prizes will be distributed in SLD tokens on Binance Smart Chain.
- No other trading pair except for the BTC-USDC trading pair will be counted in the competition.
- The following actions will result in immediate disqualification
– Batch account registration
– Profits from market manipulation
– Using API for the trading competition - Shield Protocol reserves the right to change or amend any Competition Activity or Competition Activity Rules at our sole discretion.
- To get rewards you must follow Shield on Twitter and join our Telegram and Discord channels. Our team will verify these randomly while selecting the winners and rewards will be distributed.
Happy Trading!
To learn more about Shield and the Genesis trading competition, visit the official website as part of the competition or follow Shield on Twitter, Telegram, Discord, or Medium.
