Overview

Welcome to the Cork Protocol Testnet Trading Competition! This event is designed to achieve three main goals: find bugs, gather feedback, and win prizes.

Participants will compete on the Sepolia testnet, trading on Cork Protocol’s Depeg Swaps while aiming to maximize their profits and provide valuable insights. Participants will need to react to random depeg events will occur over the course of the 12 day competition where participants need to react. This competition is a perfect opportunity to engage with our platform and contribute to its improvement.

Competition Details

• Start Date: Tuesday, September 17, 2024, 9:30AM EST.
  ◦ The competition runs for 12 days to simulate a 365-day year. Every 24 hour cycle simulates 1 month.
  ◦ Every day of the competition, there will be at least one random de-pegging events.
  ◦ The competition kicks off with the NYSE, but we are running 24/7.
• End Date: Sunday, September 29, 2024, 9:30AM EST.
  
• Platform: Sepolia Testnet
  
• Assets:
  ◦ Competition ETH - (cETH) - all participants given equal amount at start
  ◦ Merrill Lynch Staked ETH (mlETH)
  ◦ Bear Sterns restaked ETH (bsETH)
  ◦ Lehman Brothers restaked ETH (lbETH)
  ◦ Washington Mutual restaked ETH (wmETH)
  ◦ Sepolia ETH - used for gas
  
• Objective: Accumulate the most cETH by the end of the competition and contribute to the protocol by reporting bugs, making suggestions, and engaging actively.
  

How to Participate

Step 1: Setup

1. Connect to Discord:
   • Discord Link — there will be lots of information and updates shared only in discord. While not a requirement to participate, you will have an edge and have more fun.
2. Fill the Form:
   • Link
3. Connect to the Testnet:
   • Ensure you have a supported wallet (e.g., MetaMask).
   • Add the Sepolia testnet to your wallet (e.g., by using a custom RPC endpoint).
   
4. Verify that you received Test Tokens:
   • You will receive 200 cETH from the Cork team and some Sepollia ETH for gas.
   • If you haven’t received them, #trading-competition.
   

Step 2: Trading on Depeg Swaps

1. Access the Cork Protocol DApp:
   • Visit [Testnet DApp Link].
   • Connect your wallet to the DApp.
2. Start Trading:
   • Explore and engage with Depeg Swaps as detailed in our Litepaper.
   • Use both manual trades and/or automated bots.
   • Aim to accumulate the highest profit &have fun.

Step 3: Monitor the Leaderboard

• Track Discord for Depegs:
  ◦ Every day over the course of the 12 days, random depeg events will occur.
  ◦ These will be announced in the #tradingcomp-announcements.
• Leaderboard: Track your progress on the [Competition Leaderboard Link]. The leaderboard will update in real-time, showing the top traders.

Step 4: Report Bugs & Provide Feedback

• Reporting Issues: If you find a bug, report it by posting in our Discord with the appropriate tag. The more detailed your report, the better.
• Documentation Suggestions: Submit any suggestions or improvements for the documentation to be eligible for rewards.
• Office Hours: Join our weekly office hours for direct support and to discuss your experiences with the Cork Protocol team.
• UI suggestions: Submit any recommendations for UI/UX changes.

Rules

1. Eligibility: The competition is open to anyone with a wallet on the testnet. No real funds are required.
2. Individual Participation: Only individual participants are allowed—no teams.
3. Fair Play: Any undisclosed form of manipulation or exploitation of the testnet environment or Cork Protocol’s smart contracts will result in disqualification. Disclosed exploitation will get extra points.
4. Final Results: The final results will be announced at the end of the competition. Winners will be contacted via the wallet address they used to participate.

Rewards

All participants will receive an NFT that may have future utility, and winners will receive an additional NFT that may have additional utility.

We have a variety of categories for participants to win prizes:

• Total P&L Winner: Highest overall profit during the competition.  0.5 ETH
• 2nd Place: Second-highest overall profit. 0.25 ETH
• 3rd Place: Third-highest overall profit. 0.15 ETH
• Most Profitable Liquidity Provider: Most profitable trader with 70% of assets deployed in LVs 0.25 ETH
• Most Profitable Hedger: Most profitable trader with 70% of assets as LRT + DS.  0.25 ETH
• Largest Single Trade Profit: The most profitable single trade. 0.1 ETH
• Most Profitable Bot: Best-performing automated trading bot. 0.1 ETH
• Most Number of UI Trades: The participant with the most executed trades via the UI. 0.1 ETH
• Most Valid Bug: Best bug report, determined by accuracy, detail, and relevance. 0.1 ETH
• Most Accepted Documentation Suggestion: Most valuable and accepted suggestion for improving documentation. 0.1 ETH
• Worst P&L: The participant with the worst overall profit/loss. 0.05 ETH
• Worst Single Trade: The participant with the least profitable single trade. 0.05 ETH

• Total P&L Winner: Highest overall profit during the competition.  0.5 ETH
• 2nd Place: Second-highest overall profit. 0.25 ETH
• 3rd Place: Third-highest overall profit. 0.15 ETH
• Most Profitable Liquidity Provider: Most profitable trader with 70% of assets deployed in LVs 0.25 ETH
• Most Profitable Hedger: Most profitable trader with 70% of assets as LRT + DS.  0.25 ETH
• Largest Single Trade Profit: The most profitable single trade. 0.1 ETH
• Most Profitable Bot: Best-performing automated trading bot. 0.1 ETH
• Most Valid Bug: Best bug report, determined by accuracy, detail, and relevance. 0.1 ETH
• Most Accepted Documentation Suggestion: Most valuable and accepted suggestion for improving documentation. 0.1 ETH
• Worst P&L: The participant with the worst overall profit/loss. 0.05 ETH
• Worst Single Trade: The participant with the least profitable single trade. 0.05 ETH
• Bonus: Engagement counts! Wallets that execute trades on 6 of the 12 days will be eligibile to win an NFT that may have future utility.

Prizes will be distributed shortly after the competition ends.