Odyssey's First Trading Competition is Live

Odyssey’s First Trading Competition is live with 25,000 ARB in prizes!

We’ve laid out everything you need to know about the competition in this blog.

How to Participate

To trade on Odyssey, you must be from an allowlisted community or hold an Odyssey First Access Pass. If you don’t have a pass yet, you can DM us on Twitter to get one.

To be eligible for rewards, you must fulfill the following criteria:

1. Deposit at least 0.025 WETH to Odyssey for the duration of the competition.
2. Trade at least 1 ETH in notional volume.

If you have previously deposited to Odyssey, you do not need to deposit again to qualify.

Rewards

25,000 ARB (~$50,000) will be distributed across 3 categories.

1. 10,000 ARB (40%): Top 10 Traders by PNL
2. 10,000 ARB (40%): Next 240 Traders by Notional
3. 5,000 ARB (20%): Pool Depositors

Category #1: Top 10 Traders by PNL

10,000 ARB will be distributed to the Top 10 Traders based on their overall PNL. They can earn the following rewards based on their place at the end of the competition.

Category #2: Next 240 Traders by Notional Volume

10,000 ARB will be distributed to the next 240 traders by notional volume.

The top 10 traders by PNL will not qualify for this category.

ARB will be distributed based on a trader’s notional volume relative to the total notional volume of other traders in this category. The calculation is as follows:

Your ARB Amount = (Your Notional Volume) / (Total Notional Volume of Traders 11 - 250) * 10,000 ARB

For example, if you trade 10 ETH of notional volume and traders 11 - 250 trade a total notional volume of 1,000 ETH, you will receive 100 ARB.

Category 3: Pool Depositors

5000 ARB (20% of the total rewards) will be distributed to depositors across Odyssey's market-neutral pools. 

ARB will be distributed based on the amount and duration of liquidity deposited over the 2 weeks of the competition. Removing liquidity from pools before the end of the competition will result in no rewards.

Pool depositors do not need to trade to qualify for pool rewards.

Competition Dates

The trading competition lasts for 2 weeks. 

The competition started on March 15 at 1700 UTC and will end on March 29 at 1700 UTC.

Join Our Discord For Competition Updates

Traders will be able to track their progress from daily updates in our Discord. This will include daily leaderboards for both PNL and Notional Traded as well as a list of pool depositors.

We will be hosting an AMA in our Discord today (Friday, March 15) at 3:30 PM EST/ 1930 UTC, where we will be answering any questions traders have about the trading competition.

Important Details

1. Rewards will be distributed within 2 weeks of the competition’s end on March 29 at 2100 UTC.
2. Each person is limited to one entry.
3. We reserve the right to disqualify users who are gaming or exploiting the competition, for example, users who are found to be sybiling the context to extract rewards. Disqualification is subject to Hook’s sole discretion.
4. You must comply with Hook's terms and conditions. Residents and citizens of the United States, and other restricted territories, are not eligible to participate in the competition or to use Hook Odyssey.
5. Hook-affiliated pool depositors (ex: team members) will not qualify for rewards.
6. The maximum amount of ARB that can be earned for Category 2 is 250 ARB.
7. If less than 250 traders participate in the competition, the total amount of rewards in Category 2 will be reduced and reallocated to pools. If this is the case, new rewards for Category 2 equals (number of traders participating) / (240) * (10,000 ARB).