Nash League Season 2 starts 26 January 2021!

Hello dear Nash Community,

I’m pleased to announce that Season 2 of Nash League will start on 26 January 2021!

During Season 1, I tried to collect as much feedback and information as possible about the design – what you liked, what you disliked, and what kind of improvements we can make for Season 2.

Analyzing the feedback we concluded that biggest issues were:

  • Distribution of prize money inside the teams
  • Levels are too far away from each other
  • Team players aren’t eligible for the solo competition
  • People miss liquidity mining

A full blog article is coming next week with all the details, but I can already let you know about the improvements we’ve made in Season 2 to tackle these issues:

  • Distribution of prizes inside the teams and in the solo competition will change to a proportional distribution, with each user’s volume raised to an exponent of 1.2
  • We will have a new level for every $10 million of volume
  • Team players will now be counted in the solo competition – and can win two prizes!
  • Each week, 1,000 NEX will be distributed proportionally to the top 100 new users
  • Minimum team size is 5 members
  • More changes coming in the blog post!

I hope you will like the changes made for Season 2, and I also want to thank everyone from the community who helped us improve the design. Special thanks go to Lukas Korba (@lukaskorba), who made a great video that contained a lot of good ideas, some of which (like the proportional distribution of prizes) have been implemented for Season 2.

Let me know your thoughts!

Best,

Anton

41 Likes

Will the new season last 1 month like before?

Any chance of introducing new coins before or during the competition?

2 Likes

Very cool!

Can’t wait to start and competing :slight_smile:

Very nice! Much faster than I thought. Cant wait for the details :+1:

" Each week, 1,000 NEX will be distributed proportionally to the top 100 new users"

Those new users will need to have minimum amount to trade in order to be eligible?

1 Like

Let’s just wait for the blog post. Most questions will be answered there.

My idea for liquidity mining:

In my opinion it is key to keep it simple:
Liquidity miners need to be able to calculate how much they can gain with a certain amount of effort.
If there is no cap to the incentive structure, putting more effort in creating volume will translate in (unlimited) more gains / volume on exchange.
I also think that being able of purchasing (a lot) more tokens of popular (Eth) projects would lead to more adoption.
Only thing is ofcourse that there needs to be an incentive for providing liquidity to these new TP’s, but that’s something we can built into the incentives structure.

My idea is very simple. Set a reward for every dollar of volume provided on the exchange for example 0,0016, in other words 1,6 per 1000 volume.
After 24 hours fees are calculated and paid. So if total volume that day is 100.000 000, a total of 160.000 in rewards will be paid.
the mechanism that will incentivise all trading pairs is that there is set a percentage to all TP’s. This is the percentage of all rewards that will go to that specific TP.
In that case you can predefine a number (%) that you would like to see traded on the exchange for each trading pair. if the actual trading volume is lower, rewards will get higher. If
trading volume exceeds this goal, rewards will reduce and other tp’s will get more profitable compared to that one.

For example:

On the exchange are 4 TP’s and in this case we will reward each trading pair equally.

TP’s: 4 (each rewarded with 25%)
rewards: 1,6 per 1000 volume

So let’s take the data above as an example:

Let’s say total exchange volume that day is 100mio, with TP A providing 60 mio volume, TP B 20 mio, TP C 15 mio and TP D 5 mio
Total rewards are 160.000 and distributed To each TP 25%, so:

TP A 60mio 40.000 rewards 0,67/1000
TP B 20mio 40.000 rewards 2,00/1000
TP C 15mio 40.000 rewards 2,67/1000
TP D 5mio 40.000 rewards 8,00/1000

every 24 hours will be calculated if and how much rewards each person will receive.

This basic strucure can easily be finetuned, for example you could:

Set conditions for a person to be elligible for rewards for example a minimum of 20.000 volume a day.
If this condition isn’t met these rewards will go to the exchange…

Include seperate rewarding for makers/takers like in the first edition of Liquidity mining. This way you could set rewards higher for the taker side and therefor incentivising people
to also use taker strategies.

etc…

Note that this way medium to large traders would pay NO FEES at all on the exchange; they would even GET PAID for trading. Looking at how well BNB does only for reducing trading fees i think it will be HUGE news to be able to say to medium/large players that on the SAFEST, REGULATED exchange they won’t have to pay ANY fees but even GET PAID for trading.

Please do not say that this won’t be fair to small traders because this has nothing to do with fair and even distribution of gifts, this has only the purpose of attracting big volume.
Everybody who owns and/or stakes NEX will profit of this.

The competitions can last longer than a month. 1 month and four days for example. It is more likely that you will continue with the competition as a participant.

Maybe it is also possible to have different competitions run together so that you have a choice in which you want to participate.

Binance is a good example of this.

We are only a week away from the start of the competition and we need the official announcement ASAP!

If I want to form my team and invite as many people as possible I need at least a few days and I can’t even start without showing people the official announcement (otherwise I could sound like some random scammer that wants somebody to transfer his funds for some “competition”).

I would urge Nash to either announce the competition ASAP or postpone the start for one week.

3 Likes

It is coming today.

9 Likes