🗿 Mornin’ Moais — welcome to Carbon’s first ROI Trading Competition!
💰 Starting today, create a Carbon strategy and generate the best returns to win USDC!
Flex your strategy
Over the next 4 weeks, users are invited to create Carbon liquidity strategies and compete to generate the highest ROI among fellow Carbon community members. If your strategy ranks among the most profitable, you win USDC. Random prizes will also be awarded!
How the competition works
Create a strategy on Carbon between June 13 and July 11 (existing Carbon strategies created before June 13 are also eligible to enter the competition).
Claim your NFT on Galxe to enter your wallet into the competition (NFT claiming can take up to a few hours after strategy creation).
Manage your strategy or let it ride — whatever it takes to get the best returns.
Leaderboard updates on strategies earning the highest ROIs will be shared weekly.
At the conclusion of the competition on July 11th, strategies that have generated the highest ROI between June 13 and July 11 will be awarded USDC cash prizes.
Prizes:
1st place: $7,000
2nd place: $2,000
3rd place: $1,000
Random prize: $1,000 + Carbon Swag
Other requirements:
Minimum strategy value: $500 USD (at the time of strategy creation).
Strategy must be traded against at least one time to qualify.
Strategies must be created before July 11, 2023 16:00 UTC; ROI is calculated based on the strategy’s performance between June 13 16:00 UTC-July 11 16:00 UTC.
How Carbon works
Carbon lets users create automated liquidity strategies that buy or sell in distinct price ranges using custom onchain limit and range orders. Users generate returns (“ROI”) based on their ability to forecast price movements in a given token pair. Buy and sell orders can be placed at any price and adjusted without needing to close and recreate a position, giving users new capabilities to customize liquidity and greater flexibility to react to market movements.
Example strategies:
A wide range of liquidity strategies can be deployed on Carbon in just a couple clicks, including:
Native Onchain Limit and Range Orders: Execute one-time trades at specific prices (limit order) or within a specific range of prices (range order).
Scalping: Buy into a rising asset and gradually sell as the token continues to rise.
Automated Range Trading (“Grid Trading”): Buy in one price range and sell in a higher range, on repeat. Liquidity automatically shifts liquidity between the buy and sell ranges as orders are filled.
🗿 See the Carbon strategy creation guide
FAQs
If I already have a live strategy on Carbon, can I participate in the competition?
Yes, users who have existing Carbon strategies worth at least $500 in value can participate — all you need to do is claim the competition NFT on Galxe, and your strategy is entered into the competition. If your current strategy is below the $500 threshold, you will need to add liquidity in order to claim your Galxe NFT and be entered into the competition. An existing strategy’s ROI will be measured from the competition start date until the end date, or until the strategy is paused/closed.
How is ROI being calculated?
ROI is calculated by dividing the current portfolio value by the starting portfolio value, both computed in terms of the current exchange rate. For example:
ETH/BTC pair (in this case, BTC is the cash or “quote” asset, so ROI is calculated in terms of BTC)
Start: 50 ETH and 1.0 BTC, at an exchange rate of 0.02
End: 60 ETH and 1.1 BTC at an exchange rate of 0.025
Starting portfolio value: (50 ETH * 0.025) + 1.0 BTC = 2.25 BTC
Current portfolio value: (60 ETH * 0.025) + 1.1 BTC = 2.6 BTC
ROI = (2.6 BTC/2.25 BTC) - 1 or 15.55%
Important note: Manipulation of competition-entered strategies will result in the disqualification of the strategies at the sole discretion of competition organizers.
If I adjust my strategy (e.g., update ranges or add/withdraw liquidity) will it affect my strategy’s eligibility?
Your strategy will still qualify even if it is updated during the competition time period. Users are encouraged to manage their strategy in whatever way they see fit to get the best returns.
If I close or pause my strategy before the competition end date, will my strategy still be eligible to win?
Yes, you can close or pause your strategy at any time during the competition time period, and your ROI will be calculated based on the performance of your strategy from the competition start date until the closure/pausing of your position.
How does the random cash/swag prize work?
One Galxe competition NFT holder will be randomly selected to win a $1,000 USDC prize and Carbon swag.
