The RLP Trading Competition Is Live: 16M REYA in Rewards

Simon Jones

• 1 min read
The RLP Trading Competition Is Live: 16M REYA in Rewards

To mark the launch of RLP and Reya’s official integration with Ethena, we’re running a 3-week trading competition funded by $REYA rewards.

This competition rewards real traders on Reya, with participation gated by holding RLP in your margin account.

Competition summary

  • Duration: 3 weeks
  • Prize pool: 0.20% of REYA supply (16,000,000 REYA)
  • Scoring metric: Absolute realized PnL
  • Markets: All Reya markets qualify
  • Eligibility requirements:
    • Hold more than 100 RLP in your margin account
    • Trade at least $10,000 in total volume during the competition window

Leaderboard rewards

The majority of rewards will be distributed across the top 20 wallets by absolute realized PnL (therefore closing a trade at least once is a prerequisite).

  • Allocation: 12.4M REYA (0.155% of supply)
  • Distribution is pro rata based on absolute realized PnL achieved by the end of the competition, among the top 20.

How to participate

  1. Hold more than 100 RLP (formerly srUSD) in your margin account
  2. Trade at least $10,000 in volume across any Reya market
  3. Compete for top absolute realized PnL over the 3-week window

Full rules and the live leaderboard are available in the Reya dapp now.

Bonus prizes

In addition to the main leaderboard, four bonus categories will be awarded:

  • Highest absolute realized PnL by end of weekly snapshot
  • Highest Aggregate Open Interest through each weekly snapshot
  • Largest Aggregate Liquidation through each weekly snapshot
  • Altcoin Volume Leader (most volume traded outside BTC and ETH through each weekly snapshot)

Each bonus prize allocates weekly for 3 weeks:

  • 300,000 REYA per bonus prize
  • 12 * 300,000 REYA = 3.6m REYA for bonus prizes

Snapshots happen each week on Friday’s at midday GMT. The first snapshot is Friday 13th March, followed by two additional snapshots on Friday 20th March and Friday 27th March.

Winners will be announced on Discord.

Tokens will be distributed at the end of the competition. There is no guarantee the competition finishes before TGE.