Flamingo has announced the winners of the Perp Trading Competition following its Jan. 22 conclusion. The competition attracted approximately 500 users. With more than a thousand average daily trades, the volume over the two-week competition surpassed US $4 billion.

Flamingo thanked its community members for offering valuable feedback about the underlying trading mechanism and user experience with the module. Flamingo noted:

The team is already working on fixes and improvements in multiple areas of the Perp protocol to prepare for the official launch. Please stay tuned for more events and updates on Perp.

Winners were identified by the nicknames participants submitted at the time of registration. Flamingo expects to distribute the FLM rewards within 48 hours of the announcement. The FLM rewards are to be distributed accordingly:

  • Rank 1: 20,000 FLM
  • Rank 2 – 4: 10,000 FLM each
  • Rank 5 – 9: 4,000 FLM each
  • Rank 10 – 39: 1,000 FLM each

The Perp Trading Competition took place on the Neo MainNet using a Virtual AMM contract. vAMMs support leveraged trading on derivatives markets and don’t carry risks of impermanent loss or face pool liquidity limitations. It was designed to allow traders to test the protocol that powers the Perp module with mock assets. Participants were able to trade virtual Bitcoin using TestUSD test coins at up to 5x leverage.

The full announcement can be found at the link below: