Testnet Trading Cup

Bullet is Solana’s first Network Extension built for trading. It features an integrated institutional grade DEX, Bullet X, with Perpetual Futures and Lending capabilities (Spot launching soon!).

The Bullet testnet trading competition is designed to collect feedback from the community and to stress test the network. The competition is incentivised with $100,000 USDC in prizes across 2 rounds. These prizes will be distributed when the Bullet mainnet goes live directly into the users Bullet X trading account as trading credits. Traders should note that the trading competition uses mock tokens which will be airdropped on testnet during the sign-up process - creating the perfect environment for community members to test the network, build their trading skills and win prizes to bootstrap their mainnet trading account. All account balances will be reset at the start of the competition to ensure fairness.

Traders will be distributed prizes based on their rankings in the competition. These rankings will be based on the traders' dollar-denominated PnL, where the trader with the most profit is ranked in first place.

Trading Cup Summary

Prize Pool	$100,000 USDC over 2 rounds in Bullet mainnet credits ($50,000 USDC in each round).
Dates	Round 1: April 2nd 04:00 UTC - April 9th 04:00 UTC Round 2: April 16th 04:00 UTC - April 23rd 04:00 UTC
Trading Instruments	Perpetual Futures
Winning Criteria	Traders are ranked in order of profit (dollar amount PNL) and will be placed for prizes accordingly.

Prize Schedule (Per Round)

Tier	Prize Description
Grand Prize	$10,000 USDC
Tier 1	2nd Place: $5,000 USDC 3rd Place: $3,500 USDC 4th Place: $2,500 USDC 5th Place: $1,500 USDC
Tier 2	Ranks 6th-10th (inclusive) $1,000 USDC each.
Tier 3	Ranks 11th to 50th (inclusive) $312.50 USDC each.
Tier 4	Ranks 51st to 100th (inclusive) $200 USDC each.

Note: Prizes are paid out as USDC trading credits into the users trading accounts on Bullet when mainnet goes live. These prizes can only be used on Bullet, however any profits earned using these can be withdrawn by the user to wherever they wish.

NFT Boost

Participants will be able to mint the Bullet NFT, if they hold this when the competition starts they will be given a 10% boost in starting capital. There may also be future campaigns for NFT holders.

Mint Start: 19 March, 17:00 UTC.

Mint Link: https://magiceden.io/launchpad/bullet_100k_trading_cup

Referrals

When you join the competition you will be generated a referral link - share this to onboard fellow traders. When these traders sign up you will be tagged as their referrer. Referrers will win an additional 15% on any prizes that their referrals earn. For example if you refer 5 people and they win $10,000 USDC in prizes you will earn $1,500 USDC in additional prizes. Referral rewards are paid as USDC approximately 1 week after round 2 of the competition ends.

Rules

Eligibility

1. Each participant is limited to one account, duplicate accounts will result in disqualification.

2. Each participant must sign up by verifying that they are indeed a real person. This is done by authenticating via your X account. You may chose to keep you X account anonymous by clicking on the checkbox during the sign up flow to ensure privacy.

3. Your X account must have been created before the 18th of March. This is to ensure that users don’t sibyl by spinning up multiple X accounts specifically for the competition.

4. Users must register before the trading competition rounds begin to be eligible.

5. Users who register for round 1 will automatically be registered for round 2.

6. Users who register after round 1 begins, but before round 2 begins, will not be able to compete in round 1 but will be registered for round 2.

7. Bullet reserves the right to disqualify Users deemed outside of Bullet’s risk appetite, as well as due to non-adherence to the terms as set out herein.

Trading Rules

1. All trades must be executed on the designated testnet trading platform during the event period.

2. Participants are restricted to using the airdropped mock assets provided in the testnet environment.

3. No additional external funds or resources can be added to accounts.

4. User activity will be monitored for manipulation or abnormal patterns - if they are identified the user will be disqualified from the competition.

5. Only trades made within the official competition timeframe will count toward the final standings.

6. Users will be ranked based on the dollar value of their profit, with the most profitable trader ranking first.

Prohibited Actions

1. No trading strategies involving manipulation or exploitation of system bugs or loopholes.

2. Participants must not engage in collusion or coordinated trading with other participants.

3. Users must not violate the integrity of the competition by spinning up multiple trading accounts.

Rewards and Disbursement

1. Prizes will be distributed according to the prize schedule.

2. Trader prizes will be deposited into users mainnet trading accounts as trading credits when Bullet mainnet launches.

3. Referral rewards will be distributed as USDC to the referrers approximately 1 week after round 2 ends.

4. Prizes are non-transferable and cannot be exchanged for cash or other assets.

5. In case of disqualification, the prize will be awarded to the next eligible participant.

Disclaimers

1. The event organizers reserve the right to modify or cancel the competition at any time.

2. Participants acknowledge the testnet environment may have limitations, bugs, or other technical issues, and no compensation will be provided for such occurrences.

3. The competition is a testnet competition using mock assets. As such it is a simulated trading platform and any profits/losses are for demonstration purposes only.

Technical Issues

1. In the event of technical disruptions (e.g., testnet outages), the competition timeline may be extended or adjusted.

2. Organizers will investigate and resolve disputes regarding technical glitches at their discretion