Bonfida x Serum Bot Trading

The Goal

In a monumental first month, Bonfida Bots saw over 240K+ trades executed and the Total Value Locked (TVL) in the pools reached 80k USD. By seamlessly integrating TradingView alerts to send trade executions, and the simplicity of setting up the bots have allowed the community to easily begin using Bonfida Bots. The early success has seen KOL’s like Benson and third-party companies like Compendium.Finance listing their premiere trading bots. This has been a synergistic relationship where both the bot authors have gained revenue and Bonfida has been able to increase trading volume on Serum via automated trading.

Building on this success, we are now holding our inaugural automated trading competition. The objective of this competition is to get traders and bot authors involved in a Serum DEX competition to show who is best and win some juicy prizes. Spectators can trade along with their favorite traders throughout the process and become more familiar with on-chain trading. In addition to trading manually on Serum DEX, we want to show users that they have another option and it’s incredibly easy to trade programmatically.

Important Dates

Registration Week: 17th May (UTC+8 SGT/HKT) 08:00 AM to 17th June (UTC+8 SGT/HKT) 08:00 AM

Trading Competition: 24th May (UTC+8 SGT/HKT) 08:00 AM to 24th of June (UTC+8 SGT/HKT) 08:15 AM

Rules

  • Bots can trade on approved markets only i.e all markets that are supported by Bonfida Bots.
  • Participants can choose either to use TradingView alerts, JavaScript or trade manually through the UI.

TradingView Tutorial: https://www.youtube.com/watch?v=6BFmyi0qnEI

JavaScript: https://bonfida.github.io/bonfida-bot-docs/

UI: https://bots.bonfida.org (https://bots2.bonfida.org for China)

Enter Amount

Participants are free to deposit as much as they want when they initialize the bot. (I.E 1BTC, 10 SOL, 10 USDC.) However, the initial deposit will decide the components of the LP token.

For example, if you choose to trade on FIDA/USDC, and you deposit 10 FIDA + 5 USDC when you create the bot, then the initial LP token = 10 FIDA + 5 USDC

Participation Requirements:

Register your bot by posting on the Discord server or Wechat Channel, you will need to provide the following information:

  • Signal Provider’s Sol Address (or Twitter Handle if registered)
  • Pool Seed Address
  • Bot Name
  • Bot Description
  • Do you want it to be public or not — Y/N (we will create a specific page to display all participants’ bots, and if you choose N, your bot will not be shown on that page)

Participants should name their pools in an easily identifiable way. Bonfida reserves the right to decline any registration.

Deposit/ Withdraw:

During the competition, the participant (and others) can deposit and withdraw into the bot’s account. Depositing and withdrawing from the pool won’t change inception performance.

Prizes: 10K FIDA + 3K SRM (70K USD Equivalents) + Solana Swag

Top PnL Prize (Total 5500 FIDA + 1650 SRM Rewards + Solana Swag)

At the end of the trading competition, a snapshot of the bots’ inception performance (see definition below) will be taken. The top 15 will receive rewards and potentially list trading strategies on Bonfida Bot’s front page.

During the trading competition, other users can choose to subscribe to participants’ bots. However, the total balance prize is distributed only to signal providers.

  • 1st place: 1400 FIDA + 350 SRM + Solana Swag
  • 2nd place: 1200 FIDA + 300 SRM + Solana Swag
  • 3rd place: 1000 FIDA +250 SRM + Solana Swag
  • 4th place: 800 FIDA + 200 SRM + Solana Swag
  • 5th place: 600 FIDA + 150 SRM + Solana Swag
  • 6th to 10th place: 100 FIDA + 80 SRM + Solana Swag
  • 11st place to 15th place: Solana swag

Total Notional Prize (Total 4000 FIDA + 1200 SRM Rewards + Solana Swags):

At the end of the trading competition, a snapshot of the bots will be taken and winners (i.e signal providers) will receive their prizes. These prizes reward people who have the most value locked into their bot.

During the trading competition, other users can choose to subscribe to participants’ bots. However, the total notional prize is only distributed to signal providers. If the signal provider creates a community pool, it’s his responsibility to share the reward with his community members. The bot has to be a legitimate pool and execute trades.

  • 1st place: 1200 FIDA + 300 SRM + Solana Swag
  • 2nd place: 1000 FIDA + 270 SRM + Solana Swag
  • 3rd place: 800 FIDA + 240 SRM + Solana Swag
  • 4th place: 600 FIDA + 210 SRM + Solana Swag
  • 5th place: 400 FIDA + 180 SRM + Solana Swag
  • 6th to 10th place: Solana Swag

Community Prize (Total 500 FIDA + 150 SRM rewards + Solana Swags)

Anyone can participate in marketing and branding for Bonfida Bot’s trading competition by creating memes/ gifts/ posters/videos, etc

Post on Twitter with the hashtag #BonfidaBotCompetition and tag Bonfida’s official Twitter account or post on Weibo and tag Bonfida’s Weibo account.

We will collect all the content and let the community vote for their favorite top 10

  • 1st Place: 140 FIDA + 40 SRM + Solana Swag
  • 2nd Place: 120 FIDA + 35 SRM + Solana Swag
  • 3rd Place: 100 FIDA + 30 SRM + Solana Swag
  • 4th Place: 80 FIDA + 25 SRM + Solana Swag
  • 5th place: 60 FIDA + 20 SRM + Solana Swag
  • 6th to 10th place: Solana Swags

Conditions

  • All participants agree to abide by the Bonfida Terms of Service. Any participants found violating the Bonfida Terms of Service will be removed from the competition.
  • If a participant qualifies to win an award in multiple categories, he/she will only be awarded in the category that contains the highest value USD prize as determined by Bonfida
  • All rewards will be distributed to participants’ SOL addresses within 10 days upon the completion of the competition.
  • Bonfida reserves the right to amend the Terms and Conditions of this competition without prior notice.
  • Inception Performance (%) = (current LP token value) / (initial LP token value) -1
  • By default, the bot will use IOC (immediate or cancel) order for trade executions. If you choose to set up 100% as your order size, you may encounter the situation in which the order gets partially filled if the liquidity is insufficient.
  • The initial snapshot: 24th May (UTC+8 SGT/ HKT) 08:00–08:15 AM
  • The final snapshot: 24th June (UTC+8 SGT/ HKT) 08:00–08:15 AM

Communication Channels:

  • Discord for Western community
  • Wechat for Chinese community

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None of the above is financial advice.

Bonfida does not provide services to personal accounts of current residents of the United States of America, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, or Antigua and Barbuda.

FIDA is not offered within the United States or prohibited jurisdiction.

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Follow us on our socials to keep up to date on any announcements.

Reddit: reddit.com/r/Bonfida/

TG Announcements: http://t.me/BonfidaANN

Telegram: https://t.me/bonfidatg

Website: bonfida.com

Twitter: twitter.com/bonfida

Discord: https://discord.gg/hn4tTcZ7

Medium: https://bonfida.medium.com/

Price Chat: https://t.me/FIDAtrading

Chinese Chat: https://t.me/bonfidacn

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