We’re excited to share the launch of dHedge, a new decentralised asset management protocol powered by Synthetix, which is now live on Ropsten testnet! dHedge offers non-custodial mimetic trading for synthetic assets, using the zero-slippage and infinite liquidity trading model of Synthetix.
This is one of the first major projects built on the Synthetix derivatives liquidity protocol, and for that reason is an exciting milestone as one of the innovative value propositions of DeFi is its open composability. We anticipate many more examples of projects utilising the derivatives liquidity offered by Synthetix.
As part of its launch, dHedge is running a competition on Ropsten testnet to test the protocol and find the best performing managers in the community. Synthetix has supplied 5,000 SNX for the competition along with dHedge’s 125,000 DHT, which is the project’s native governance token.
dHedge trading competition details
The competition will start today and run for 2 weeks until 8am UTC August 3 (6pm AEST, 4am EST, 1am PT). The prizes will be awarded to the traders with the highest Total Return at the end of the competition:
1st place: 37,000 DHT + 1,500 SNX + own channel on dHedge Discord
2nd place: 25,000 DHT + 1,000 SNX
3rd place: 12,000 DHT + 500 SNX
4th-20th place: 3,000 DHT + 120 SNX
To enter the competition, follow these steps:
- Head to www.dhedge.org and follow the link to the App.
- Connect your Web 3 wallet (like Metamask) to the Ropsten testnet.
- Click on Create a Pool and Join Competition. After tweeting a message you will be eligible for the competition.
- You will be guided through a process of obtaining testnet ETH and converting ETH to sUSD in order to start managing your pool.
- Prizes will be distributed before the end of August.
For the full list of details, terms, and conditions around the Ropsten competition, please visit the www.dhedge.org.