It’s ON! Join IPOR’s stETH Stake Rate Swap Trading Competition
Experience DeFi-native stETH interest rate swaps with up to 500x leverage and earn a piece of the $IPOR prize pool.
Looking for a challenge?
How about experiencing…
…what it is to trade the second-largest derivative instrument in the world, with up to 500x leverage, referencing a top 10 crypto asset, in a DeFi-native environment?
And getting $IPOR rewards while doing it.
That’s what you’ll get if you join IPOR’s week-long stake rate swap (SRS) trading competition focused on IPOR’s flagship stETH rate market.
And there are even more practical reasons to do it.
📊 Speculate
By opening a stETH swap, you enter a directional position on the movement of the stETH rate. In the past month, the stETH rate gravitated between 3.1% and 5.2%, which is volatile for an interest rate derivative.
The spread has even been negative at times, presenting exceptionally good entry opportunities.
Some traders managed to get some decent APRs.
Trading swaps can be exciting!
🛡️ Hedge
If you are a stETH holder or a Lido node operator or you are worried about a slashing event, you can use an IPOR stETH stake rate swap to get a fixed rate for up to 90 days.
Once opened, a swap gives you the peace of mind that you will get your fixed rate no matter where the Lido rate goes and why.
Leverage
500x sounds like a lot of leverage? Nope. Swaps are not the same as perps. Listen to IPOR’s CEO Darren Camas explain what’s the difference in ~2 minutes:
There are many ways to utilize the IPOR SRS.
Looking at the median value is usually a good idea. It helps you determine the direction of your swap based on historical data.
If you need more trading ideas, have a look at this piece:
▶️ How to Participate?
To participate in the competition, you must open a 👉 28-day stETH 👈 stake rate swap from 12:00 UTC (noon) on January 18 to 12:00 UTC on February 25.
➡️ app.ipor.io/swaps/steth
📋 Rewards Criteria
The determining factor for winner selection will be the total notional value generated by a participating wallet.
The higher the notional value of all your swaps, the higher the chance to win.
🎁 Rewards
The rewards pool will depend on the total amount of notional generated by all users/wallets participating in the competition. The higher the cumulative notional — the higher the rewards pool.
🔶 Up to $10m of cumulative notional ➡️ 5k $IPOR
🔶 $10m to $15m of cumulative notional ➡️ 7.5k $IPOR
🔶 $15m to $20m of cumulative notional ➡️ 10k $IPOR
🔶 Above $20m of cumulative notional ➡️ 15k $IPOR
Five winners will each receive a piece of the total rewards pool, depending on the total amount of notional value they have generated:
🥇 1st ➡️ 35%
🥈 2nd ➡️ 25%
🥉 3rd ➡️ 20%
🏅 4th ➡️ 15%
🏅 5th ➡️ 5%
There is no limit on the number of swaps that could be opened. The notional value will be determined on a per-wallet basis.
⚡ Rewards Distribution
Rewards will be distributed to the winning wallets up to 7 days after the competition ends.
Need Help?
If you need to get familiar with the IPOR swap trading interface, you can watch this short video walkthrough:
You can also always get help on IPOR’s Discord.
The IPOR Labs team appreciates feedback! If you have any, please share it with us on Discord.
Enjoy trading vanilla interest rate swaps in DeFi.
Available ONLY at app.ipor.io.
Leave a comment below if you have any questions. Be sure to join our Discord community to receive the most relevant updates on the IPOR Protocol and Interest Rates in DeFi. Meaningful product discussions are highly valued, and spam is strongly discouraged. Be cautious, and don’t fall for impersonators.
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