CVI Beta Platform Competition — The Results!

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On December 30th we launched the beta version of the CVI trading platform. In order to encourage users to test the platform before it goes live on MainNet and to educate our community on Volatility Trading, we performed an incentivized trading competition on the CVI platform.

The competition started on December 30th, 2020, at 4 pm UTC and ended on January 17th, 2021, at 8 am UTC. At this time exactly, we ran the snapshot of all participants’ P&L (profits and losses).

This competition was a great success and allowed 1700 users to familiarize themselves with the platform. These users participated and competed to get a share of the reward pool of 150K $GOVI. Not only were they awarded for their participation, but it also allowed us to have valuable insights and form new, interesting ideas. Some of them will be implemented in the MainNet version, and for that, we’d like to thank all the participants who took part in this beta testing.

Here are some key insights into what happened on the platform during the entire duration of the competition:

Participation

  • More than 1700 users participated in the competition and tested the system.

Stats

Buyers of CVI (LONG CVI):

  • 1296 users of the platform have chosen to buy positions, expecting more market volatility.

Depositing Liquidity (SHORT CVI):

  • Users of the platform who anticipated less market volatility deposited liquidity on the platform, essentially shorting the CVI on one hand and collecting substantial fees on the other.
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Fees and rewards

The platform has collected 60,757$ in total during the competition. These fees, on MainNet, would have been distributed between the liquidity providers and the holders of $GOVI tokens who staked their tokens on the platform. This rate implies quite a substantial annual income from fees to stakers of $GOVI.

The competition winners

The top 20 winners will receive a total of 56.2K $GOVI tokens. The winner will receive 10.5K $GOVI tokens, the second place will receive 8.4K, the third in line will get 6.3K, the fourth 4.7K $GOVI and the fifth place, 3.1K $GOVI. Places 6th to 20th will receive 1.5K $GOVI each. The rest of the participants will share a prize of 93.7K $GOVI.

We are happy to introduce the final winners hereunder:

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Congratulations to the winners!

For all of our updates and to join the conversation, be sure to check out CVI channels:

Website: https://cvi.finance

Whitepaper: https://cvi.finance/files/cvi-white-paper.pdf

Twitter: https://twitter.com/official_CVI

Telegram (group): https://t.me/cviofficial

Telegram (channel): https://t.me/cvichannel

CVI is a decentralized volatility index for the crypto space — powered by COTI network

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