Bonfida Bot Competition Registration Now Open

The competition is set to kickstart on the 24th of May 2021 and run until the 24th of June 2021 — a one month period.

By
Utulu Hope
on
May 17, 2021
Category:
Breaking News

Introduction 

Bonfida has announced that registration for their bot trading competition is now open. Recently, Bonfida bots reached a milestone in Total Value Locked (TVL) and several executed trades. The platform witnessed over 240,000 transactions in a monumental first month while also gaining a TVL of $80,000 in pools. 

Source

The platform makes use of TradingView alerts to send trade executions. This and the ease of setting up bots have created user interest in using Bonfida bots. The success of these bots has also prompted the launch of bots on other similar platforms. Companies like Benson and Compendium.finance have now launched their own trading bots to capitalize on this new trend. 

Bot creators have gained substantial revenue, and Bonfida has increased the trading volume on Serum by utilizing automated trading. In light of the considerable success, Bonfida is looking to hold its first trading competition. The goal is to involve bot creators and traders in a Serum decentralized exchange (DEX) competition that will encourage innovation in this blooming field. Spectators can participate in the contest and compete in order to familiarize themselves with on-chain trading. 

The essence of the competition is to show users that there is another option to trade — programmatically while trading manually on Serum DEX. 


Dates For Registration and Competition 

  • Week of Registration: 17th May (UTC+8 SGT/HKT) 08:00 AM to 22nd May (UTC+8 SGT/HKT) 08:00 AM.
  • Week of Trading Competition: 24th May (UTC+8 SGT/HKT) 08:00 AM to 24th of June (UTC+8 SGT/HKT) 08:15 AM.


Trading Rules

  • Bots are eligible to trade only on approved markets (Markets supported by Bonfida bots). 
  • Participants have a variety of trade options to choose from. They can either trade manually via UI, use Javascript or TradingView alerts.


Requirements 

Users interested in participation are urged to register their bots by posting on the Discord server or WeChat channel. They will need to provide the following information according to this order: 

  • Signal Provider’s Sol Address (or Twitter Handle if registered)
  • Pool Seed Address
  • Bot Name
  • Bot Description
  • Entry’s Public Status — Y/N


To learn more about withdrawal/deposits, competition prizes, and conditions, read the full parameters Bonfida has provided.


About Bonfida 

Source

Bonfida is the full product suite that bridges the gap between its users, the Solana blockchain, and Serum. The platform aims to be the ultimate source of data truth in the crypto market. These data sources include exchange statistics and crypto company reviews and scoring and providing explanations and in-depth research on updates in the crypto industry. 


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Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer.