Nash League - suggestions and ideas for S02

[Oldsport (Marc)]

Let me start off by saying I’m impressed with the level of suggestions in this thread. Once again Nash community shows how smart and constructive it is collectively.

Below I’ve tried to tear down the current issues into atomic problems.

Problem: once you’ve reached a certain qualifying threshold or lead, you may feel like any additional trading is unnecessary.
Solution: incentivize sustainable trading.

Problem: some pairs are heavily favored, making other pairs less liquid and harder to trade on.
Solution: incentivize multiple pairs.

Problem: choosing between squad and solo can be difficult and you may feel regrets
Solution: allow competing in both squad and solo categories simultaneously.

Problem: the original vision was that there would be more squads, of smaller size (otherwise the “Others” rewards category would have been thought out differently). There are actually less than half a dozen squads seriously competing and as a result gaps between squads are huge which discourages competition.
Solution: cut down competition length (weekly instead of monthly) and limit squad max size

Problem: Some traders don’t feel rewarded fairly: they receive the same rewards as some who have traded less.
Solution: Make rewards proportional to volume, or better yet effort

---

As a result of the above issues and solutions, this is my suggestion :

You can create a squad or join from an invitation link. Squads can have 2, 3 or 4 players.

Solo and squads competitions are simultaneous. You are by default competing for the “Solo” category, but even if you join a squad, your volume also counts towards your Solo volume.

Traders compete for League Points (LP). Bonuses reward consistency and trading across multiple pairs.

Example:

Trader A generates $1M (maker) volume on a single pair on a single day: he will earn 1,111,100 LP (1M + 100 + 1,000 + 10,000 + 100,000) for his squad.

Trader B generates $10k (maker) on 5 different pairs for 7 consecutive days (i.e 350k volume): he will earn 579,900 LP (350k + (100 + 1,000) * (1 + 2 + 3 + 5) * (1 + 1 + 3 + 1 + 5 + 1 + 7)) for his squad.

You can switch between your available squads in the top right-hand corner.

Note that when you select a squad, you still compete in the Solo category.

The competition results are available in-app for squad divisions (2 players, 3 players and 4 players)…

as well as for the Solo category:

Unlocking a new level grants you a chance to win special perks, prizes and a random bonus!

---

Wish you all a merry christmas and a happy new year, full of moons for Nash

[kabelman]

Copy trading is by far the best idea imho. But the question is if we have the liquidity for it.

[NewstHet]

notice that at any case top 3 teams 1-20 members are generating anyway most of the volume. I sure that if those teams would be limited to 20 members, volume would be bigger.

an option I just thought about: Allow team leader kick off members if they didn’t reach minimum traded amount by date X, that would be pre defined while joining a team.

[JSP]

Hi Nash Team,

I made my detailed comments earlier in the post but I just wanted to add one more point; less about the competition itself, but more in regards to the winners and ensuring a timely payout of prizes.

Ultimately it costs money to trade in competitions, and if you do end up winning or being eligible for rewards, you want to be compensated as soon as possible because in some cases, you actually use those winnings to continue trading, or maybe you injected some capital to participate and need to take it back out.

I noted with Liquidity Mining that in some weeks there was a delay with the payout to eligible participants. For some traders it was fine; for others they could not continue providing LM at the same rate, or even stopped the programme completely due to a lack of funds or until payout was received.

Now I might be staying the obvious, but with the current trading competition I think it is even more imperative to get these timescales right and set the expectation level correctly. Of course, everything needs to check out and I know this will take some time; but anything that can expedite this process will be highly beneficial.

It would be detrimental to implement plans for season 2 (assuming there is one), without season 1 winners being compensated in a timely manner.

Cheers, and Seasons Greetings to you all.

[Oldsport (Marc)]

In my above post, I mentioned the solo and squads competition could have different durations:

With hindsight, this makes it unclear how volume is counted to reach different tiers. Making everything weekly makes more sense IMO. Also, I was thinking there could be every month a new season of 3 weeks, so that the remainder of the month we see where we stand without any competition rewards at stake. This delay would also allow a timely delivery of the season that just ended, as @JSP rightfully described the importance of.

Another recurring feedback is that tiers are too long to reach and too far apart in season 1. In the below rewards simulation, I made it so that a new tier is reached every additional $500k of daily volume:

As a means of comparison, as we currently stand in season 1, we’d be at tier 4: around 40 people would receive $130, the highest reward being at $1,245, the slowest at $59. (Note that an important rule is: a player earns the best of all rewards he’s eligible for - not the sum).

I believe the above would be a good compromise between Nash League season 1 and the Liquidity farming program, since it would basically be a Liquidity farming program on steroïds which scales with volume.

[Perry]

Also it could be a good idea to also get rewards every time a volume target is reached instead of waiting for the whole month to get any rewards. Also some kind of ticket system, you get rewarded tickets for daily tasks (something like 1 ticket for 1k volume a day, 3 tickets for 10k volume a day etc), you can think of way more targets to be reached every day/week. this way everyone is engage to the platform and wants to keep making volume/targets each day to get rewarded tickets for a lotery to have a chance to win weekly/monthly prices (NEX, USDC, swag store etc etc)

[IanJ]

If we’re going to do tickets, I suggest we leverage the notifications function in the app.

“Trade Bitcoin today to earn 1 ticket!”

“$1000 more volume to earn 10 tickets!”

“Invite a friend to join Nash to earn 5 tickets.” (also… jazz it up a bit. Make it light hearted. Throw in a few emojis )

I like the gamification and use that notification hook to pull people back into the platform again and again suggesting new “challenges” or “quests” for them to complete to stay in the competion for the prize pool.

[Oldsport (Marc)]

A point system like advocated in my first post above makes it easy to add many exciting types of bonuses on top of it. Here are a few that come to mind:

• +50% points earned for the first week if you just joined
• +20% points earned if you have more than 1000 NEX staked for 24 months

If Nash decides to implement a lottery system, you could also win bonuses as prizes:

• +10% points earned this week when you redeem this bonus
• taker volume earns you +10% more LP (so $1 taker earns 2.2 LP instead of 2)

This barely scratches the surface of what is imaginable. Of course, keep in mind that implementing any of this is costly.

[Garda]

@Oldsport

This barely scratches the surface of what is imaginable. Of course, keep in mind that implementing any of this is costly.

Prize pool doesn’t necessarily have to be bigger, it could just be structured in a different way. A ticket system that can be exchanged for small prizes, a strategy of “getting hooked” and checking your phone often is what I advocate for. There are some good examples already mentioned here and some good practices can also be copied from free-to-play (mobile) games.

One thing I want to note is that the main point of the competition should NOT be to increase volume but to acquire new users (which will in turn also raise volume albeit slower than if focus is solely on achieving high volume). Sure, volume should be rewarded because this will attract registrations of the new users but current users bringing in new traders should be encouraged much more. Organic volume growth will happen with many users, not with few hundred users doing 90% of the volume. Achieving high volume with slowly expanding user base is cutting corners in my opinion. The rule should be reverse; let us slowly raise the volume by expanding the user base faster. And when I say “users” I mean traders, not people that just plan to stake Nex and do nothing.

Tickets are a great system since it encourages current users to be proactive and with low enough thresholds (at least in the beginning) it incentivizes new users to both register and invite some of their contacts. Ticket system should focus on that part and not on some crazy high volume milestones. Achievable, small prizes, ticket bonuses for bot users, ticket bonuses for your referrals reaching certain milestones (tickets for your referral reaching 1000$, 5000$, 10.000$ of trading volume, etc), tickets for your referral’s referral - amounting tickets for many small activities would make a person hooked.

Imagine a new user that successfully refers 5 new users; this new user has an interesting branch for chasing tickets but he also regularly checks if his referrals are doing enough volume so he gets new ticket. This is a very powerful and addictive system that Nash can use and aim at the priorities that it wants to promote during this competition.

[NewstHet]

I wrote at few places about the problem with too many maker bots,

I know that some did stop trading because of the talked above problems, But I wonder if there are statistics about how many have orders stuck below current price because BTC went up so much and traders didn’t adjust their bots, causing full capital of BUY orders ready to be taken (taker bot would probably handle this better).

[Vaugrin]

Few additional thoughts I had:

• Give it more of a liquidity mining feel (where everyone earns a percentage of a set pool, based on their individual volume).

• Let users join a squad at any point throughout competition.

• Have some unlockable prizes that adds a smaller secondary, temporary prize pool to a random trading pair (or something similar).

• • Anyone in a squad who trades on the bonus pair, splits this reward with all CURRENT, ACTIVELY TRADING squad members (the bonus supplement is added to each individual’s total prize, after the bonus pool is depleted/trading window closed).
• • Traders not in a squad keep whatever they earn from this bonus all for themselves (but they’re up against entire teams of traders).
• • This encourages people to leave bots running across multiple pairs, as to not miss out on the bonus windows; they can’t predict which pairs will be chosen, so they coordinate to run bots across several pairs for coverage
• • Lower volume traders who join squads early, benefit more.

[Monkey]

I talked about this in a separate post and I wanted to add onto your subject here.

So I was having a conversation with a buddy of mine who is also invested in Nash and participated in the Nash league and I was talking about some of the ideas that I have heard from the community regarding Nash League Season 2 and gamification. This brought us to brainstorming about how we would go about gamifying the competition to make it into an actual game we would like to play. For this example I am only going to be talking about individual trader’s accounts and not team trading. I was inspired by Torghast from World of Warcraft.

• Points - Instead of going by dollars of volume generated we go by points. For every 1 dollar of volume generated it is equal to 1 point.
• Levels - Traders can individually level up their account when they reach higher threshholds. Every 5 levels they can unlock a perk
• Perks - (This is where it gets fun) When you unlock a perk you can choose on a skill tree special perks that can give you bonuses to your trading. Ex: Risk Taker-100% bonus to points when trading on a pair with under one million volume. Heres Comes the Money - 20% bonus to points when a trade generates profit. HODL - If you have over 25,000$ in Nash Wallet you get a 5% bonus on all points. Sage - Forgo a perk in order to get two 10 levels from now. (These are all just some of the ideas)
• Skill Trees - Skill trees for those who arent familiar is the idea that perks will lead to different branches. So if you sink enough points into the risk taker tree you get better bonuses down the tree. This is an idea that doesn’t actually have to be utilized, because other roguelikes also go the way of RNG (chance).
• RNG - This comes down to classifying perks into categories. Commons, rare, epic, legendary. Where receiving a legendary perk option would be the most difficult probability to get on level up. In order to balance this out every 10-15 levels you are guaranteed three epics to choose from.

These are just some game ideas that rely on the fun that is involved in theory crafting builds and personalizing your trading experience. Do you use a bot? Do you trade high volume amounts in individual trades? Do you like being risky or safe? And theory crafting is incredibly fun for gamers. I would love to hear feedback on this, as well as other gamification ideas for the Nash League.

[Billy_B]

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
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 in in 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 additional 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…