Trading competition - AE tokens promoted by the first DEX on Aeternity

I. Title - Trading competition - AE tokens promoted by the first DEX on Aeternity

II. Summary - A trading competition to be organized on weiDex - the first DEX working on Aeternity. The competition will be focused only on the pair AE-ETH. It will last for 2 weeks. The first three traders with the highest trading volume will receive rewards. Two weeks before the competition a social media campaign will be performed with the aim to spread the word (Medium, Discord, Telegram, Twitter, Facebook)

III. Goals

  1. to promote AE token
  2. to bring more volume to the AE-ETH trading pair

IV. Roles - weiDex team - Tito Titov - CEO; Krasimir Raykov - CTO, Yordan Titov and Petko Pavlovski - Frontend Developers; Polina Keremidchieva and Georgi Doychev - marketing strategists. weiDex received funding during Star Fleet 1

V. MVPs - weiDex trading platform with AE-ETH pair https://app.weidex.market/trade/ae-eth

VI. Timeline - 2 weeks of preparations - social media campaign + 2 weeks duration of the competition = total of 4 weeks

VII. Milestones

  • social media campaign - articles, posts and announcements in Medium, Discord, Telegram, Twitter, Facebook
  • start of the competition
  • rewards announcement

VIII. Budget

  • $5k for rewards - 1st place $2500; 2nd place $1500; 3rd place $1000
  • (plus 50k in tokens for liquidity provided by Aeternity - not an investment- will be returned after the end of the competition)

IX. Assessment/Metrics of Success

  • Ideal goals:

       * half a million trading volume daily
       * 500 participants
    
  • minimal goals for the rewards to be paid

       * 100 participants
       * 5k trading volume per each trader
    

Monitored and measure - Tracked by the Smart Contract

6 Likes

It would have been perfect if this was organized on the Sophia WeiDex implementation :slight_smile:

yeah, it would have… :slight_smile:

OMG, that DEX is so sexy. Good job WeiDex team! Can’t wait when they will port it to Sophia. It would be a game changer. Have you guys thought about creating wrapped BTC, ETH and other coins like Binance is doing while going towards decentralized exchange? So there would be let’s say BTCw, ETHw, DAIw, etc. just for the sake of trading them on your platform.

4 Likes

Hey, thanks for the positive feedback.

We will soon introduce WBTC and DAI as a base currency. The AE version of the DEX will also be released with the same UI (hopefully soon).

4 Likes

I have two questions:

  1. Could the rewards be lower? Why are these numbers selected? They look a bit high to me, but I am not familiar with how these competitions usually go.
  2. When will the WeiDex decentralized exchange be available on Sophia? I would suggest to focus on this primarily and do a smaller (in terms of prizes) competition now.

Best,
Vlad

Evaluation board result:

image

Hey,

  1. If the rewards are to be lowered, there will be no stimulus for the traders to participate. These are already the smallest possible amounts having in mind the competitions held by other exchanges e.g. https://medium.com/binanceexchange/binance-trading-strategy-competition-ea73e4ccfb28 https://www.kucoin.com/activity/70

  2. About the Sophia implementation. Our developers had some bad experience with the last hardfork and the tooling around it, which delayed some of the other plans we had. We will most probably wait for the next hard fork and then renew the development on AE - which I guess is mid-september.

Regards,
Polly

Re 2. I am glad to see the honest comment. That is why I insist on the “developers first” instead of “mobile first” approach which can wait as it focuses on the end-user.

Hello. Let me know when you are able to refine your proposal based on our comments in the call. I will then schedule you for the next campaign review as soon as you’re ready–either on Mon 10AM or Thurs 3PM.

Hey,

We decided that there will be no point in decreasing the rewards and will hold back our proposal until the Sofia weiDex Implementation is ready. So, we withdraw our proposal for now.

1 Like

I’m not a team member, just a community member. But I think you’re greedy and greedy. You’ve got starship funding, but you don’t want to fix an SDK problem. Now apply for CBC again?

anger

LiuShao

Where’s your weidex-ae?

1 Like

What gave you the courage to mention binance? Do you have binance 1% users?

We wanted to fix the SDK problem.
And our developers have spent lots of time and resources to help the SDK team.
You are not familiar with that, but it is how to say - unfair to blame us when you are not well informed.

Why to not apply for CBC?
Isn’t it for community building?
Do you think that we are spending these grants for beers and chips?
Have you checked our twitter and progress or you are here just to hate the AE builders?

Last but not least weidex-ae was working, before the hard forks and it will work again after the hard fork, when the network is more stable!!

Haha.
This is insane.
We can’t mention binance??

Btw, when you are such a supporter of binance and everything centralized, what are you doing here?
Just go to binance, google servers, facebook and have fun.
All of them have lots of traction, everything is easier there and they are fully centralized.

Binance-dex to understand it

No one wants to pay for your crazy, ae-eth is meaningless

Ohh thank you for the clarification.

Ok, thank you for the feedback.