Nash is offering up to US $1 million in prizes for its first trading competition, Nash League. Participants can either compete individually or as part of a group. The trading competition begins at 12:00:01 am (UTC) on December 15th, 2020, and concludes at 11:59:59 pm on January 15th, 2021.
The Nash League competition is designed to increase trading volume on the non-custodial exchange, which recently surpassed a milestone of $100 million in historical volume. Teams will compete against each other to generate the highest levels of trading volume, with increasing prize pools as trading activity across the exchange grows.
A squad is required to have least 10 members to qualify as a team. Once on a squad, users are ineligible for solo rewards. Team registration begins on December 3rd and ends on December 22nd. If a squad has less than 10 members after registration ends, it will be disbanded and members are registered as solo participants.
The competition will also feature “special” and “profit/loss” categories.
Under the special category, users who created a new Nash account after December 1st, 2020, will eligible for random “Rookie” reward of $250 if they trade a minimum equivalent of $1,000. More surprise prizes will be revealed for special achievements as each new prize pool is unlocked.
Prizes are also on offer for users who post the best gains, regardless of trading volume. This category will be rewarded at the end of the trading competition, with both squad and individual players eligible for this reward pool.
The pool of $1,000,000 in prizes will be distributed via USDC accordingly:
- 50% to Squads
- 30% to Solo participants
- 10% for the Profit/Loss category
- 10% for the Specials category
Eligible trading pairs for the Nash League competition include BTC/USDC, ETH/USDC, ETH/BTC, LINK/USDC, NOIA/USDC, NOIA/BTC, NEO/USDC, NEO/ETH, BAT/USDC, GUNTHY/USDC, and GUNTHY/BTC.
Nash notes users must generate more than $20,000 of volume during the competition to be eligible for prizes, with the exception of the Rookie prizes.
Nash has also increased its trading limits by 5x for Tier 0 users and 10x for KYC’ed customers. Now, Tier 0 users can trade up to $5,000, Tier 1 users up to $500,000, and Tier 2 users up to $2.5 million per day. A Tier 0 is an unverified account, and customers who provide their KYC are eligible to trade up to Tier 2, depending on how much personal identifying information they provide to Nash.
Lastly, Nash’s beta liquidity mining program has entered its final week with a prize pool of 20,000 NEX and the equivalent of $8,000 in NOIA tokens available. NOIA joined the liquidity mining program after listing on the Nash exchange. NOIA is the utility token of the NOIA Network, which aims to increase internet connection speeds through smart routing.
The full Nash League announcement can be found at the link below: