Perp — the vAMM based perpetual contracts trading protocol on Flamingo, is an integral component of the platform and will be the next to launch. Due to the novelty and complexity of its concept and development, the team has been putting in careful efforts to test and optimize the system throughout.

Through the first Perp trading competition, the team has identified numerous issues while receiving valuable feedback from many participants. Since then, there have been significant improvements over various aspects of the Perp module.

To better prepare it for the upcoming official launch, the team is now inviting all community members to join us again for another round of comprehensive testing over the upgraded Perp module. We look forward to your support and feedback.

📅 Competition Timeline

Application:
Now — May 10th, 2021 08:00 UTC

Competition:
May 12th, 2021 08:00 UTC — May 26th, 2021 08:00 UTC

🙋How to Apply

1. Join Flamingo’s Discord group.

2. Application link will be published in the group announcement channel.

3. Application is open until May 10th, 2021 08:00 UTC.

All successful applicants will each be air-dropped with 10,000 TestUSD to their submitted NEO addresses. (NeoLine wallet extension will be used for this competition)

🏅️Prizes

All prizes for this competition will come as part of the independent team fund specified in FIP#3.

The multi-sig address of the independent project team fund:
https://neotube.io/address/AJY5eyRLy6ZsYoZA9rN4oUqVg9sy8ePm9e/page/1

👨‍🔬 Top Traders

All traders will be ranked by address balances after the competition ends, and top-ranking addresses will receive corresponding prizes:

· Rank 1: 10,000 FLM * 1

· Rank 2–3: 5,000 FLM *3

· Rank 4–8: 2,000 FLM * 5

· Rank 9–28: 1,000 FLM *20

💻 Bug Bounty

All participants are welcomed to summit bugs found during the process, and the team will verify if the submission qualifies for the bounty prize stated below:

Critical bugs: 1000 FLM per verified reporting

Any finding that leads to significant impacts to the product including failure of service, or unable to proceed with transactions including both open/close positions.

Significant bugs: 300 FLM per verified reporting

Any finding that allows the transfer of tokens without permissions or unintended use of tokens from other accounts, or any loophole that allows users to arbitrage from the system.

⚠️ Rules

• Transferring of TestUSD between addresses will invalidate both addresses for rankings and prizes.
• The final ranking will be generated based on wallet balances. All traders need to close all their positions and withdraw all TestUSD to their wallet addresses used during application before the competition ends.
• The team reserves the right to invalidate addresses with fraud or abnormal behaviors during the competition.

📰 INFO

https://medium.com/flamingo-finance/the-2nd-perp-trading-competition-27200167047b