Short story about my participation in trading tournament on @perpltrade - new perp exchange in the @monad ecosystem - with a $50k prize pool ๐ค
I recently decided to join their 2-week trading competition.
Why do I even bother with these?
Because I think early/smaller exchanges often have asymmetric risk/reward: low competition, relatively low costs, and a real chance to win decent prizes if things go well.
Also, it is a good way to test different trading strategies.
My results:
๐ฅ 1st place by Volume
โข Around $10M volume in 10 days
โข Costs: about $6,000
โข Prize: $7,000
So, roughly $1,000 net profit + a lot of points
๐ 5th place by ROI
โข Another $1,500 prize
โข No costs for this one - pure skill
I could have done better in the ROI leaderboard, but made a few mistakes. So I guess I also got some experience for free ๐
After the tournament ended, Perpl has discreased comissions and announced a 16-week incentive campaign where they will distribute $500kโ$1M in $MON rewards
So now, if you trade on Perpl, you can farm two things at the same time:
โข Perpl points
โข mPoints for the $MON incentive campaign
Since the project is still very early, there is a chance that these points may become harder to earn and more valuable later
Perpl used to be invite-only, but they just opened access to everyone!
Using my referral link gives you:
โข +5% boost to regular Perpl points
โข +5% boost to mPoints for the $MON campaign
https://t.co/pD4wVIEDBm
I do not have crazy expectations here, but the opportunity looks +EV enough for me to keep trading there for now
Will continue looking for more asymmetric opportunities like this ๐
Polymarket Perps are now available via invite ๐ฅณ
For the past month, this section was in beta and only available to a very limited group of users.
Now you can activate it with an invite too:
https://t.co/iCXKeWTcI3
Could be useful for anyone trading and staying active on @Polymarket!
One of the reasons is that you organized a really nice contest. It is great growth strategy for your platform, especially because your competitors don't have anything like this. I think you'll earn more from fees than you allocated for the prize pool. I hope you'll have more contests like this in the future, including for other sports/tournaments, like the US Open tennis.