Introducing Options Trading Challenge: Rewards Worth 300,000 $ODDZ Up for Grabs
We are excited to announce the launch of the Oddz options trading challenge. This will be a 12-week contest beginning on October 4, 2022 and concluding on December 27, 2022. The competition will feature a total prize pool of 300,000 $ODDZ tokens. Traders can participate and earn up to 25,000 $ODDZ tokens every week by buying options.
Top seven traders will be chosen every week for rewards and will be allocated rewards from the reward pool. The rewards, however, will be distributed over a six-week (vesting) period. Below is the framework of the trading competition:
- The Trading Competition will start on October 4th, 2022 14:00 UTC and end on December 27th, 2022 at 13:59:59 UTC.
- Eligibility for the competition will be determined based on the eligibility requirements in effect that week.
- In addition to the eligibility criteria for each week, the league should have at least three users. If there are less than three eligible users in a given week, the prizes will not be issued and the prize pool will be returned to the Oddz Treasury.
- Total Prize Pool = 300,000 $ODDZ tokens
- Prize pool each week = 25,000 $ODDZ tokens * 12 weeks = 300,000 $ODDZ tokens
- Bonus Reward: Traders who buy 60+ options worth at least $4000 by the end of the leaderboard will be rewarded an extra 5000 $ODDZ tokens.
- Top 7 winners will be selected every week for rewards.
- The trader’s ranking will be based on the amount of option premium spent during the week.
Prize distribution every week is as follows:
- 1st place — 30% of the pool
- 2nd place — 20% of the pool
- 3rd to 7th places — 50% of the pool (10% each)
Note: In case only 6 users qualify for the rewards, each of the ranks 3 to 6 will all be rewarded 10% of the pool and the remaining funds will be sent to the Oddz Treasury.
Reward Distribution and Vesting
- The rewards will be distributed over a six-week period. The following is the distribution:
- Week 1–37.5%
- Week 2 to Week 6 — 12.5% each week
Note: The contest rules and regulations are subject to Oddz’s final interpretation, and we have the right to disqualify any user for non-eligibility during the contest.
Get set Go!
Traders! It’s time to put your option-buying skills to the test and take full advantage of this challenge. We have a slew of rewards in store for you, as well as some bonuses for the top traders. Let it begin!
Leaderboard — https://app.oddz.fi/options/leaderboard
Oddz is a trustless on-chain options trading platform that expedites the execution of call and put options contracts, conditional trades, and futures. It allows the creation, maintenance, execution, and settlement of trustless option contracts, conditional tokens agreements, and futures contracts in a fast, secure, and flexible manner.
It employs the synergies of Ethereum, Avalanche, Binance Smart Chain, Polkadot, and Polygon to unleash the potential of a decentralized options market. It focuses on building solutions that can propel the DeFi ecosystem by simplifying options trading and enhancing the user experience.