Overview

Welcome to the Cork Protocol Testnet Trading Competition! This is your chance to dive in and achieve three goals: experience the full range of Cork Protocol's trading tools, share your ideas to make it even better, and win amazing prizes!

3 categories of prizes will be awarded across different profitable trading types.

Participants will compete on the Sepolia testnet, testing Cork Protocol’s trading tools for depeg events, while aiming to maximize their profits and provide valuable insights. Participants will need to respond to random depeg events occurring throughout the 7-day competition.

Start Date: Monday, November 25, 2024, 09:30: EST.

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:
   • Cork Protocol: 2nd Trading Competition Registration
   

• 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 Testnet Tokens:
     • You will receive 100 cETH and 250,000 cUSD from the Cork team a day before the competition starts.
     • If you haven’t received them, go to #trading-competition on Discord.
  

Step 2: Use Cork

1. Learn About Cork
   ‍• Read Cork’s Litepaper
   
2. Access the Cork Protocol DApp:
   ‍• Visit Cork's Trading Competition DApp.
   • Connect your wallet to the DApp.
3. Start Interacting with Cork’s Toolset:
   ‍• Price, trade, hedge depeg events
   ‍• Deposit Liquidity
   ‍• Buy/Sell Depeg Swap tokens
   ‍• Buy/Sell Cover Tokens
   ‍• Use both manual trades and/or automated bots.
   ‍• Aim to accumulate the highest profit, have fun, and share your feedback!

Step 3: Monitor the Discord & the Leaderboard

• Track Discord for Depegs:
  ◦ Every day over the course of the 7 days, random depeg events will occur.
  ◦ These will be announced in the #tradingcomp-announcements Discord channel.
• Leaderboard: Track your progress on the Trading Competition Leaderboard. The leaderboard will update in real-time, showing the top traders.

Step 4: Report Bugs & Provide Feedback

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

Competition Details

• Start Date: Monday, November 25, 2024, 09:30: EST.
  ◦ The competition runs for 7 days.
  ◦ During the competition, random depeg events of varying sizes and severity will occur.
  ‍
  
• End Date: Monday, December 2nd, 2024, 09:30 EST.
  
• Platform: Sepolia Testnet
  
• Competition Assets:
  
  ‍This competition focuses on staked ETH assets and stablecoin pairs.
  
  ‍◦ Cork ETH - (cETH) - all participants given equal amount at the beginning of the competition
  ◦ Merrill Lynch staked ETH (mlETH)
  ◦ Bear Sterns restaked ETH (bsETH)
  ◦ Washington Mutual restaked ETH (wamuETH)
  ◦ Fed Up USD (fedUSD)
  ◦ Sillycoin Valley Bank USD (svbUSD)
  ◦ Own My Gold USD (omgUSD)
  ‍
  
• Objective: Trade and hedge different assets throughout the 7 days of the competition.
  

Rules

1. Eligibility: The competition is open to anyone with a wallet on Sepolia 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 contact details 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

• Most Profitable Corker
• Most Profitable Liquidity Provider
  ◦ Be the most profitable liquidity wizard - earn the highest returns while keeping your assets actively providing liquidity.
• Most Profitable Cover Token Trader
  ◦ Best performing trader in Cover Token markets - earn big by buying low and selling high!

Prizes will be distributed shortly after the competition ends.