Meme Coin Madness Trading Competition Guide
In collaboration with Seiyan, Carbon DeFi is hosting the Meme Coin Madness Trading Competition!Beginning on November 26th*, participants can join the month-long event by creating liquidity strategies across SEIYAN trading pairs. Compete for weekly SEIYAN token rewards, meme token airdrops, exclusive NFTs, and limited-edition Bancor/Carbon DeFi swag. Check out the FAQs below for all the information you need to make the most of this competition.2. Eligible trading strategiesParticipants must be acting as makers, meaning the following strategy types are eligible:Limit/Range OrdersRecurring OrdersConcentrated Liquidity3. Does the order of my tokens matter?No, the order does not matter. It makes no difference which is the base or quote token. As long as the pair qualifies and you start with a minimum of $100 in Seiyan, either setup works.Example 1: Buying Sei with $100 worth of Seiyan in a recurring strategy.Example 2: Selling $100 worth of Seiyan for Sei in a recurring strategy.4. What prizes are available each week?Each week, the top three traders by volume will share $2,250 in SEIYAN tokens:1st place: $1,500 in SEIYAN2nd place: $500 in SEIYAN3rd place: $250 in SEIYAN5. Are there any bonus prizes?Yes! Participants can win additional prizes:🎉 Meme token airdrops🎁 20 Sei NFTs (5 distributed weekly)🎒 6 Bancor/Carbon DeFi swag packs6. How does the OAT (Onchain Achievement Token) work?Each week, participants are whitelisted to claim an OAT, which serves as an entry into raffles for the limited edition swag pack. Holding all four OATs by the end of the event automatically qualifies you to claim the Meme Madness 🏆OAT, completing the collection and entering you to win 1 of 2 additional swag packs.7. OAT Minting and Swag Pack RedemptionOAT Minting:Participants of Weeks 1–4 must mint their OATs by the end of the following week’s end.For example, eligible Week 1 participants must mint their OAT by the end of Week 2. Please see official beginning and end dates for each of the 4 weeks.The Meme Madness 🏆OAT must be minted by December 31, 2024 at 23:59 UTC.Swag Pack Redemption: Winners have until January 6, 2025 at 23:59 UTC to redeem their prizes.8. Does claiming more OATs increase my chances of winning?Each OAT you hold serves as a separate entry in the weekly raffle. The more OATs you hold, the higher your chances of winning! Plus, if you collect all four OATs by the end of the competition, you’ll automatically be eligible to claim the 🏆 OAT, entering you into the final raffle, exclusive for participants of the entire trading competition!9. Already have a live strategy on Carbon DeFi? Can it join the competition?Yes! Existing strategies can participate as long as they:Were created before the start date.Have at least $100 in SEIYAN funding at the time of strategy creation.Note: Volume will be tracked from the competition start date to the end date.10. What are the exact start and end dates/times?Week 1Start: November 26th 2024 at 00:00 UTCFinish: December 2nd 2024 at 23:59 UTCWeek 2Start: December 3rd 2024 at 00:00 UTCFinish: December 9th 2024 at 23:59 UTCWeek 3Start: December 10th 2024 at 00:00 UTCFinish: December 16th 2024 at 23:59 UTCWeek 4Start: December 17th 2024 at 00:00 UTCFinish: December 23rd 2024 at 23:59 UTC11. What if I have multiple SEIYAN strategies on Carbon DeFi?You can use multiple strategies, but:Each wallet counts as one entry.Strategies within the same wallet will be combined for volume.12. Can I adjust my strategy during the competition?Yes! Feel free to update prices, add or withdraw liquidity, or otherwise adjust your strategy to maximize volume.13. What happens if I close or pause my strategy before the end date?No problem — your volume will count up to the point the strategy was closed or paused.14. How is volume calculated?Volume is tracked for trades from a source token to SEIYAN.Here are a few examples:Example 1: Recurring Strategy with SEI (Single-sided)Buy Order: Set to buy SEI at 27 SEIYAN/SEI with a budget of 10,000 SEIYAN.Filled Buy Order: Acquires 370.37 SEI (no qualifying volume yet).Sell Order: Set to sell SEI at 47 SEIYAN/SEI.Filled Sell Order: Acquires 17,407.39 SEIYAN, generating 17,407.39 SEIYAN in qualifying volume.Total Trading Volume: 17,407.39 SEIYAN—Example 2: Recurring Strategy with SEIYAN and SEI (Double-sided)Buy Order: Set to buy SEI at 27 SEIYAN/SEI, funded with 10,000 SEIYAN + 1,000 SEI.Filled Sell Order: Acquires 47,000 SEIYAN when SEI price rises above 47 SEIYAN/SEI.Buy Order Filled: Acquires 2,111.11 SEI when price drops, but does not add qualifying volume.Total Trading Volume: 47,000 SEIYAN—Example 3: Concentrated Liquidity StrategyBuy Range: Min 42 SEIYAN/SEI, max 59 SEIYAN/SEI with 5% spread.Initial Budget: 20,000 SEIYAN + 1,188.37 SEI.Volume Generated: 23,361.17 SEIYAN from a sell event.Total Trading Volume: 23,361.17 SEIYANImportant NotesOrganizers reserve the right to disqualify traders found engaging in dishonest or suspicious activities.The SEIYAN Meme Coin Madness Trading Competition is unavailable to residents of the U.S. and other restricted jurisdictions as outlined in the Carbon DeFi Terms of Use.🗿 Join the Carbon DeFi Telegram to share strategies, and follow Carbon DeFi on X to get weekly updates on the top volume producing strategies!*Start of the competition was delayed 1 day.