SolStreet’s Money Never Sleeps series of trading competitions continues

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SolStreet is a non-custodial marketplace for investment funds on the Solana blockchain. The protocol, in its alpha stage of development, is currently running a 12-week series of paper trading competitions, dubbed Money Never Sleeps. These competitions are designed to grow SolStreet’s community from the ground up while also allowing us to receive valuable feedback from users during the relatively early stages of development. This helps ensure the product we’re building is optimized to our userbase’s needs. 

We’ve been awed over the past few weeks by the involvement from our fast-growing community who have been participating in our inaugural trading competition — the Wolf of SolStreet. The competition helped vindicate our decision to develop SolStreet on the Solana blockchain. We saw over 50,000 valid registrations, 13,130 funds created and 35,451 swap transactions performed during the two-week period. If the competition had instead been hosted on the Solana mainnet, the sum of all transaction costs would have been in the region of only $30. In comparison, the network fees that would have been incurred running the competition on the Binance Smart Chain would have been in the region of $35,000 or a staggering $2.5 million on the Ethereum blockchain.

Traders were competing in bullish conditions in crypto markets, with the best performing funds relying heavily on incredible two-week performances from Solana (+92%) and Serum (+98%). Both of these crypto assets are integral to SolStreet’s value proposition and the price action is no coincidence as development in the ecosystem starts to accelerate.

Congratulations to all of the 1,503 prize winners who got their share of the 200,000 SolStreet (STRT) token rewards (worth an estimated $120,000). Aside from the planned prizes, we also chose to award some of our most active participants with an additional prize — 500 STRT tokens and a Wolf of SolStreet Wolfie nonfungible token. This means that there will be a total of seven of these exclusive NFTs minted.

While the Wolf of SolStreet has drawn to an end, the Money Never Sleeps series is still ongoing, with the second competition Good Fill Hunting set to begin on Aug. 30 (ends on Sept. 13). Registrations are open until the competition begins (register here — even those who competed in the Wolf of SolStreet are required to register again). This time, 300,000 STRT (worth an estimated $180,000) are available across a total of four competition categories.

With our dev team hard at work, participants will find a host of improvements made to the platform when they return to compete. These include broadening the assets available for investment, introducing leverage and shorting, basic charting and more.

Prizes will be awarded to the top 500 participants in three separate fund categories as well as prizes for the top 1,000 investors. For fund managers, there will be prizes for the best return on investment, most fees generated, as well as the best STRT score — with the latter determined via a proprietary scoring algorithm. Performance in the investor competition will incorporate total returns across your account, including investments in other participants’ funds, as well as investments into funds managed by yourself. 

For those vying for the investor prize, you have the option of investing into your own or other users’ funds (or a combination) in order to grow your initial USD Coin (USDC) allocation. This means you can compete on fair terms even if you don’t have time to actively trade your own fund during the day. Do watch out for funds with exorbitant fees though.

Over and above the first prizes, those who place first in any of the categories will receive an exclusive Good Fill Hunting NFT. As with the Wolf of SolStreet, prizes will be allocated only following SolStreet’s launch on the Solana mainnet, expected in late 2021.

Good Fill Hunting competition details

Entries close: Aug. 30 (11:59 am UTC)

Competition starts: Aug. 30 (12:00 pm UTC)

End date: Sept. 13 (12:00 pm UTC)

Total token prize pool: 300,000 STRT

Number of individual prizes: 2,000

How to enter

Ensure that you have completed the following tasks before the competition begins on Aug. 30 (12:00 pm UTC).

1. Complete the entry form.

a. Fill in a valid email address.

b. Fill in a valid Sollet address.

c. Fill in a valid Twitter handle.

2. Only enter the competition once.

3. Follow SolStreet on Twitter here.

4. Retweet this tweet here.

5. Join our Discord here.

6. Make sure to compete on SolStreet.finance between Aug. 30 and Sept. 13, 2021, to win.

Grounds for disqualification

  1. Multiple entries into the competition.

  2. Additional airdropping of tokens to one’s competition wallet.

  3. Price or smart contract manipulation of any kind (exceptions may be made for reported bugs).

  4. Idle funds — unless following a well-defined strategy.

  5. SolStreet retains sole discretion regarding the determination of eligibility for rewards.

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