We are thrilled to announce the newest Swap Competition,
"GOLD Last Call", the latest Swap Competition dedicated only to the WPAXG asset! that is going to be open to all participants in the DeFi space. This competition offers a fantastic opportunity for you to demonstrate your skills and win exciting prizes. The competition will involve every closed swap between the 13th of February, 2023 at 00:00 GMT and the 12 of March, 2023 at 23:59 GMT. During this period, every public address will have the chance to partecipate with an unlimited number of Swaps.
The Top 15 ranking will be calculated based on the sum of profits from all Swaps that are closed or expired during the competition period. This time, we are rewarding Swaps opened with the WPAXG Asset. Exclusions from the calculations include premiums, penalty fees, and liquidity rewards.
The rewards for the Swap Competition "Gold Last Call" will be distributed among the Top 15 in-profit participants as follows:
1st Place: "GoldenKing of the Swappers" will receive 700 USDT
2nd Place: "SilverKnight of the Swappers" will receive 350 USDT
3rd Place: "BronzeSpade of the Swappers" will receive 250 USDT
4th and 5th Place: 200 USDT
6th to 15th Place: 150 USDT
We’re going to give an EXTRA Reward of 200$ to the Best Single Swap of the Competition!
Please note that the rules for this competition will be the same as the previous one. The profit percentage will be cumulative from swap to swap and only Swaps made with the WPAXG Asset will be eligible for the competition prizes.
All Swap data and values can be found on the MetalSwap frontend, although there may be slight differences due to math approximation. For the most accurate info, we suggest consulting Etherscan.
We encourage all participants to strive to be the ultimate leader of MetalSwap's dApp, the "GoldenKing of the Swappers," by opening new Swaps and holding the top spot.
We are excited to see everyone's participation and success in hedging the price of GOLD!
⚡2 ways to obtain WPAXG token:
- Having PAXG: Wrapping it through MetalSwap’s official Syntethizer tool, explained in this previous Medium
- Not having PAXG: Swapping any token directly on UniswapV3 for WPAXG, the wrapped version of PAXG corresponding to the following Token Address: 0x787c68f6bCAb352Ec871C522d038bc7A30268020
This formula is calculated over real data (18 decimal numbers!) and the TOP15 is composed from those complete numbers running over ETH blockchain.
The formula used to calculate the percentage of the Swaps is:
R1/C1 + R2/C2 + R3/C3 + ….. = Gain%
R1, R2,… = Swap Result. It could be positive (Profit) or negative (Loss) depending on the success or unsuccess of the operation made.
C1, C2,… = Cover used for the Swap.
it’s a data point on the smart contracts, to normalise the value in
dollars, the direction of the swap must be considered:
● if the swap is Asset -> USDT
the Cover must be multiplied by the
“Expiry Price” of the asset involved in the swap (i.e. the price of the asset at the time of opening of the swap)
● if the swap is USDT -> Asset
the Cover is already expressed in dollars and the value is
therefore already normalised
All the Results are normalized in USDT, for example when the Profit value is recognised in Assets or when the Cover is returned to you.
TO THE FIRST THREE WINNERS:
We’ll ask to contact us via e-mail: firstname.lastname@example.org , we will send a doc to sign in order to be compliant with Swiss law where the DeFi Foundation resides: The identity of the prize recipient will have to be recognised, to comply with AML.
It’s time to Open new Hedging Swaps with WPAXG and take part of the Swap Competition — "GOLD Last Call" Edition, the last using only the WPAXG asset!
What a time to be in DeFi!
Be sure to follow our social media channels to stay up-to-date on the latest developments and future updates for our platform!
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To the MetalSwap!
… and beyond!
-The DeFi Foundation
✎ What is MetalSwap?
With MetalSwap we enable hedge swap transactions through the use of Smart Contracts, AMM style.