Flamingo is hosting a trading competition using the NEP-17 SOMNIUMWAVE token, SOM. A total of 30 million SOM tokens are available in prizes for any participant that trades into or out of SOM. The competition will run for a month, from 10:00 a.m. (UTC) on Friday, June 24, 2022 through the same time on July 22.
To qualify, users must first join the FLM Hodler Club, a tiered plan that offers membership benefits and perks for FLM token holders. The five tiers include the following and their FLM requirements: Boathouse (1 FLM), Canoe Club (1,000 FLM), Boat Club (10,000 FLM), Yacht Club (100,000 FLM), and Captain’s Club (1,000,000 FLM).
Contest participants will compete for prizes among other members of their particular tier. For example, if the cumulative members of the Boathouse Club tier amasses a total of US $1,000 in trading fees, and an individual within the tier has accrues $100 in trading fees, they receive 10% of the total Boathouse Club prize allocation.
The total trading volume will be tallied by monitoring users’ N3 wallets. Eligible trades include any that use Flamingo’s Advanced Trade, Convert, or other platform feature that involves swapping SOM.
A leaderboard on the Flamingo Discord server will offer real-time tracking and ranking of participants. The leaderboard will be ordered according to the number of trading fees a wallet spends (calculated in USD when the trade executes) on SOM-FLM swaps.
Anyone can register to participate, and there is no limit to the number of participants. However, to qualify for a prize, users must trade enough to earn a minimum of 15,000 SOM tokens, equivalent to approximately $0.53 at the time of press. Winners will be announced shortly after the trading competition concludes, and the rewards will be promptly distributed.
Participants must bind their Discord handle and Neo N3 wallet address on Flamingo Finance to register. A user walkthrough can be found in the Flamingo Discord FLM Hodler Program #club-info channel.
SOMNIUMWAVE is an open-world 3D blockchain game designed to reward users for holding NFTs and competing in matchmaking. Players may buy and sell lands, vehicles, and weapons using the NEP-17 token SOM.
The full announcement can be found at the link below: