gTrade Launches $400K “Trick or Trade” Halloween Contest on Arbitrum

• The event will be held only on the Arbitrum network, bringing attention to the continuous emphasis that gTrade has on increasing the level of activity and liquidity within its most active deployment.
• The challenge helps to strengthen gTrade’s long-term strategy, which aims to concentrate liquidity around its Arbitrum deployment while also retaining multi-chain access for traders.

Today, Gains Network’s decentralized perpetual trading platform, gTrade, made the announcement that it would be holding its “Trick or Trade” Halloween Trading Contest, which will take place from October 22nd to November 19th. The event will be held only on the Arbitrum network, bringing attention to the continuous emphasis that gTrade has on increasing the level of activity and liquidity within its most active deployment.

Although gTrade works across many blockchains, the “Trick or Trade” competition will only take place on Arbitrum. This is due to the fact that Arbitrum has the most robust liquidity pools and a substantial portion of the trading volume that has occurred in the past. Additionally, the challenge helps to strengthen gTrade’s long-term strategy, which aims to concentrate liquidity around its Arbitrum deployment while also retaining multi-chain access for traders.

Following the receipt of 4.5 million ARB via the STIP incentivization program and a further 2.25 million ARB via STIP.B in 2024, gTrade is spending its own protocol funds to power this competition that is worth $400,000 in total. Arbitrum will be the sole on which both contest categories will be conducted, and all transactions will be completed using USDC collateral.

When it comes to the “Trick or Trade” competition, there are two concurrent categories:

The prize pool for the P&L Competition – $200,000

• Out of all the pairings (including RWA and DEGEN markets), the top 100 traders are rated according to their realized or withdrew profit and loss. There is a requirement that all positions be started and closed on Arbitrum with USDC serving as collateral.

Volume Competition – $200,000 Prize Pool

The best traders on Arbitrum are rewarded based on their cumulative trading volume using a time-weighted multiplier that gives preference to positions that have been held for longer periods of time.

“We designed this competition to celebrate our Arbitrum traders and continue building on the network where our liquidity is strongest,” said Nathan, Project Lead at Gains Network. “By focusing our efforts on Arbitrum, we’re creating a more efficient environment for traders and rewarding the community that has supported our growth.”

As gTrade continues to work toward its overarching goal of streamlining liquidity while providing traders all around the globe with constant, cross-chain accessibility, the competition represents yet another significant milestone.

Gains Network is responsible for the development of gTrade, a decentralized leveraged trading protocol that offers non-custodial access to several markets, including cryptocurrency, foreign exchange, indices, commodities, and stock markets. Through its cross-chain architecture, one-click trading, and no Know Your Customer (KYC) requirement, gTrade gives users the ability to trade with high leverage and low friction.

Visit the website gains.trade or read the documentation that may be found at docs.gains.trade for further information.