HP005 - Trading Competition Rewards

This proposal seeks to:

• Commit USDC and Hubble Space Cats (HSC) as reward for a testnet Trading Competition.

The Trading Competition facilitates testing the protocol before mainnet launch. For successful testing, it is integral for sufficient rewards to be provided to attract traders and trading that assimilates mainnet usage.

If this proposal passes, the following prizes will be approved as rewards for the winners:

First - $10k + 4 HSC Second - $5k + 3 HSC Third - $2.5k + 2 HSC 4-10th - $500 + 1 HSC 11-100th - $100 + 1 HSC

Prize Pool for Traders: $30,000

There will be another prize pool for Makers.

First - $7,500 + 4 HSC Second - $5,000 + 3 HSC Third - $2,000 + 2 HSC Fourth - $1000 + 1 HSC Fifth - $1000 + 1 HSC 6th-10th - $700 each + 1 HSC

Prize Pool for Makers: $20,000

What are Makers? Similar to liquidity provision by LPs in Curve V2 pools, Makers provide virtual liquidity in the Hubble vAMM pool but on leverage i.e. they can add more virtual liquidity than their margin and earn fees on leveraged liquidity. For every position opened by a trader, there is a counter position opened for all makers and they share it in the ratio of their liquidity.

Makers will have a PnL just like traders. They can be traders too. If a participant is taking on the role of a Trader and a Maker, they’ll be considered in both pools.

Total Prize Pool: $50,000

The cash prizes can be claimed in USDC or as Hubble tokens at the equivalent USD value at the market price after TGE (sometime in 2022).