GMXSOL: Trading Competition Framework V2

Proposals
1

Background

In previous trading competitions, the incentive primarily relied on “total trading volume ranking” and “last valid trade”. While these rules offered simplicity and gamification, they revealed several issues in practice:

  1. Participants could generate volume through high-frequency trades to chase rewards, rather than executing genuine trades.
  2. Metrics like win rate, profit-loss ratio, and effectiveness of trading strategies haven’t been included.
  3. The “last trade wins” rule often devolved into a battle between a few participants, reducing fairness.

To better promote authentic trading, we propose a multi-metric framework, where each metric is independently rewarded.

Metrics

  • Total PnL → Total net profit from all trades (USD)
  • PnL Ratio → Total net profit / margin used
  • Win Rate → Number of profitable trades / total number of valid trades
  • Trading Volume → Total trading volume (USD)
  • Referred Volume → Total trading volume by referred users (USD)
  • Number of Referees → Number of referred users (VIP1 or above) during the competition

Rules

  1. Each metric will award Scores to the top 100 users.
  2. The Score for each metric is calculated as (100 - rank)².(For example, if User A ranks 2nd in Total PnL, they will receive 98² Scores for that metric.)
  3. Each user can earn Scores across multiple metrics. The final Score is the sum of all Scores earned.
  4. The prize pool will be distributed proportionally based on each user’s share of the total Scores .

Prize Pool

  • USDC: Initially set at $10,000 USDC, with potential to grow dynamically based on protocol revenue.
  • GT: 210,000 GT will be minted and distributed per competition round.

Consequences

  1. Traders with various styles will have opportunities to win rewards.
  2. Minimum participation thresholds and multi-dimensional evaluation help filter out exploitative volume farming.
  3. Category-specific metrics reduce dominance by whales or last-minute manipulators.
  4. More users will feel they have a fair shot at winning, increasing engagement and long-term involvement.
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Discussion: Supporting GMX Solana Expansion via Monthly GT Token Treasury Swap
2

It’s good to further optimise these parameters based on the issues you’ve identified in the recent trading competitions. Users will try to game whatever rules you instate, but this multi-metric framework may go a long way.

3

The influence of the number of referrals and their volume should be strongly limited by the maximum number of points. Otherwise, this will lead to the fact that one person with money will create a large number of accounts, spin the volume on them to get 600 GT(VIP 1) and this will be almost the same as the first competition (1 person through software spins the volume on different accounts)

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4

I fully agree that it’s necessary to limit the maximum score for the number and volume of referrals, as this could be exploited to climb the rankings by creating multiple accounts, which would not represent real users. Additionally, awarding 100 points for referrals in two categories, similar to the best PnL, seems unfair to those who trade. It turns out that a truly strong trader without referrals won’t be able to win, even if they score highly in all other categories.

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