Season 1 — Arbitrum Yield Trading Leaderboard
Summary:
👑 Season 1 of Arbitrum Yield Trading runs from 30 November 2023, 00:00 UTC to 20 December 2023, 23:59 UTC
👑 Top 10 traders by % gain will win $ARB, with the grand prize being 10,000 $ARB
👑 To qualify, have a minimum of $1,000 of positions on Arbitrum at some point during the season
Season 1 of Pendle Leaderboard is finally here, and along with it the chance for you to test your yield trading might against other Pendies.
Will you be 1 of the 10 to walk away with these amazing ARB rewards?
Duration: 30 November 2023, 00:00 UTC — 20 December, 23:59 UTC
Rewards:
1st — 10,000 ARB
2nd — 5,000 ARB
3rd — 3,000 ARB
4th to 5th — 500 ARB
6th to 10th — 200 ARB
Minimum Balance: $1,000
To qualify as a contender, you’ll need to achieve a minimum of $1,000 <Total Balance> at any point during the season, which in this case is the sum of all active positions on Arbitrum.
Scenario 1
Peepo deposits $1,000 into the GLP pool on Day 1.
His <Total Balance> is shown as $1,000.
Since Peepo has already met the minimum <Total Balance> requirement, he automatically qualifies as a contender for Season 1 and can now compete for the ARB prizes.
Even if Peepo’s position loses value and dips below $1,000 after this, he will still remain as a Season 1 contender.
Scenario 2
Peepo deposits $800 into the GLP pool.
His <Total Balance> is shown as $800. As of now, Peepo does not qualify as a Season 1 contender.
Later in the season, Peepo trades his position from $800 → $1,100 in value.
Since Peepo has met the minimum <Total Balance> requirement, he automatically qualifies as a contender for Season 1 and can now compete for the ARB prizes.
Even if Peepo’s trade loses value and dips below $1,000 from this point onwards, he will still remain as a Season 1 contender.
Scenario 3
Peepo deposits $800 into the GLP pool.
His <Total Balance> is shown as $800. As of now, Peepo does not qualify as a Season 1 contender.
Throughout the season, Peepo’s position(s) remain below $1,000 in balance.
Since Peepo has not met the minimum <Total Balance> requirement, he does not qualify as a contender for Season 1 and thus cannot compete for the ARB prizes.
Scenario 4
Peepo deposits $800 into the GLP pool.
His <Total Balance> is shown as $800. As of now, Peepo does not qualify as a Season 1 contender.
A few days later, Peepo decides to deposit another $500 into the MUXLP pool. However at this point, his initial $800 position in GLP has lost value and become $400.
Hence, Peepo’s <Total Balance> is only:
$400 + $500 = $900
Since Peepo has not met the minimum <Total Balance> requirement, he does not qualify as a contender for Season 1 and thus cannot compete for the ARB prizes.
If at any point later in the season Peepo’s positions appreciate in value to $1,000 or more, he will automatically qualify as a contender.
Winners will be determined based on their Net Seasonal P&L in percentage terms (%) by the end of the season, ensuring that only the most skillful of yield traders (not the richest and most powerful) will rise to the top.
Do note that Net Seasonal P&L is defined as the profit (or losses) earned from your <Total Capital>, which is the maximum capital injected into Pendle during the season.
Scenario 5
Peepo deposits $1,000 into the GLP pool.
His <Total Balance> is shown as $1,000.
Later in the season, Peepo deposits another $500 into the MUXLP pool.
At this point, Peepo’s <Total Capital> is $1,000 + $500 = $1,500
If Peepo’s total profit ends up being $500, his P&L will be:
$500 / $1,500 = 33.3%
Scenario 6
Peepo deposits $1,000 into the GLP pool.
His <Total Balance> is shown as $1,000.
Later in the season, Peepo deposits another $500 into the MUXLP pool.
At this point, Peepo’s <Total Capital> is $1,000 + $500 = $1,500
Halfway through the season, Peepo changes his mind and decides to withdraw $800 from Pendle.
However, since <Total Capital> is the maximum capital injected into Pendle at any point in time, his <Total Capital> is still $1,500.
If Peepo’s total profit ends up being $200, his P&L will be:
$200 / $1,500 = 13.3%
Get ready to trade, triumph, and secure your spot on the Pendle Leaderboard — where legends are made and the best yield traders rise to glory!
May the yields be ever in your favour, anon 🫡
