πŸ†
Thales First Trading Competition
The first official trading competition held by Thales began on 10/1/2021 and ended on 11/1/2021. While the team waited for crucial updates to Optimism before moving to Layer 2, a trial trading competition was held on Layer 1. New data feeds from ChainLink allowed users to chose sides on exciting new markets:
Burned ETH πŸ”₯ and the BTC/ETH market cap flippening 🐬
As more and more ETH was incinerated due to EIP-1559, competitors were able to choose from a number of different burn-based strike prices and expiry dates.
The Flippening, a shift in crypto dominance
πŸ’ͺ
​
Another major milestone that's always on the horizon, the flippening, was also made available to traders via speculation on the time when them market cap of Ethereum would finally exceed Bitcoin.

The following markets were available for traders during the competition:

  • ETH burned > 690,000 @ Nov 1, 2021
  • ETH burned > 740,000 @ Nov 1, 2021
  • ETH/BTC Market Cap Ratio > 0.36 @ Nov 1, 2021
  • ETH/BTC Market Cap Ratio > 0.41 @ Nov 1, 2021
  • ETH/BTC Market Cap Ratio > 0.46 @ Nov 1, 2021
  • BTC > $50,000.00 @ Oct 18, 2021
  • BTC > $55,000.00 @ Oct 18, 2021
  • BTC > $55,000.00 @ Oct 25, 2021
  • BTC > $65,000.00 @ Oct 25, 2021
  • BTC > $60,000.00 @ Oct 30, 2021
  • BTC > $62,000.00 @ Nov 1, 2021
  • ETH > $3,200.00 @ Oct 18, 2021
  • ETH > $3,600.00 @ Oct 18, 2021
  • ETH > $3,500.00 @ Oct 25, 2021
  • ETH > $4,000.00 @ Oct 18, 2021
  • ETH > $4,200.00 @ Oct 25, 2021
  • ETH > $3,800.00 @ Oct 31, 2021
  • SNX > $8.50 @ Oct 18, 2021
  • SNX > $8.00 @ Oct 23, 2021
  • SNX > $12.00 @ Oct 18, 2021
  • SNX > $11.00 @ Oct 25, 2021

Positions that were eligible for rewards:

  • Top 20 in Total Profit (in sUSD)
  • Top 20 in Percentage Gain (in %)

Prizes that were distributed:

Created by Bob Zivkovic, a childhood favorite of the Thales team
More information about this competition can be found in this Medium article.
Copy link
On this page