Trading competition

Grants
#1

Hey all,
Happy new year!

I hope many of you are familiar with Investin which is Solana’s first decentralized fund management protocol and is one of the earliest protocols that has been working closely on developing exciting products over Mango markets.

We are a team of 5 developers and do not have any significant war treasury to market the product that we have built. We are aiming to host a trading competition in January 2022 for 3 weeks with a tier-based prize reward distributed among the best performing funds each week.

Our ask from the DAO is for a grant of $20k in USDC or MNGO as a reward to host our trading competition and make it a grand success in onboarding more users unto Investin which in turn will contribute more volumes to Mango.

We are also removing the protocol fee and making the protocol free to use, to onboard more users. The fund managers would earn money only if they perform well in markets, there will be no management fee that we used to charge upfront on all deposits. More details abt it can be found here.

We will create a dashboard to show all the trading volume that is contributed by Investin funds on mango markets.

Now you can argue that some amount of volume will go to other protocols that we have integrated namely Raydium and Orca, hence we are reaching out to them as well. But tbh we all know leverage trading would be used more than just swapping assets.

Investin’s success will never be it’s own it will be a win-win for all the protocols it is built over.

5 Likes
#2

I like this idea, let me know how you would like to receive the grant, so I can bring up a governance vote

1 Like
#3

great!
the prize money address: BKpCru766o7ZjTG6hK8gXYrtCpirSYAVD92N32TDPvQZ

#4

Make sense! Lets do this! Could you elaborate on “perform well” - would this be relative or absolute? Since the platform has low tvl atm, how are managers supposed to make a name for themselves before the competition starts? How long would the competition last? How would you distribute the prize money? Would you enable some of the newer more trendy tickers?

#5

Ah maybe you need a mix of relative and absolute performance

#6
  1. The competition will be performance based and a minimum AUM of 1k would be set to compete in first week and gradually increased for 2nd and 3rd week by 100%.
  2. We will divide the competition over 3 weeks and increase the prize money for every week to increase our reach and allow more participants to take part in it
  3. We will be listing $SHDW and look forward at adding new tokens as soon as we see the liquidity is sufficient to be traded.
1 Like
#7

are guilds able to participate? or would each member of the guild would need to participate. Trading competition - #4 by microwavedcola

1 Like
#8

Yes, and as a fund manager you get to choose from which wallet you accept investment. Read more about it here

1 Like