# Based Trading Titans

**One Month. $25K USDC + $25k in esFDX Bonuses.**

**Trade. Climb. Conquer.**

With the markets heating up, Flex is dropping its biggest on-chain competition to date — **‘Based Trading Titans’.** Over the course of four weeks, traders will battle it out for a share of **$25,000 USDC** and **$25,000 worth** **esFDX prizes**. With weekly spotlights on select assets and volume multipliers, this is your chance to win big on Flex.\
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Leaderboard is live - <https://dune.com/flexperps/flex-based-trading-titans-competition>

## 📅 Competition Timeline <a href="#id-2caa" id="id-2caa"></a>

* **Start Date:** Thursday, 22nd May, 2025, at 00:01 UTC
* **End Date:** Thursday, 19th June, 2025, at 00:01 UTC
* **Duration:** 4 weeks

## 💰 Prize Pool Breakdown <a href="#id-8a2a" id="id-8a2a"></a>

* **Total Potential Prize Pool:** $25,000 USDC + $25,000 of esFDX bonuses
* **Guaranteed Prize Pool:** $15,000 USDC + $15,000 of esFDX bonuses
* **Volume Milestone Bonuses:** An additional $1,250 USDC & esFDX will be unlocked each week if the total trading volume exceeds $150 million and a further $1,250 USDC & esFDX will be unlocked each week if the total trading volume exceeds $200 million, up to a maximum of $10,000 USDC.

## 🏅 Weekly Prizes (Per Week) <a href="#id-8bc4" id="id-8bc4"></a>

**Guaranteed Base Weekly Prizes:**

* 🥇 **Top Volume Trader:** $1,000 USDC + $1,000 of esFDX
* 🥈 **2nd Volume Trader:** $600 USDC + $600 of esFDX
* 🥉 **3rd Volume Trader:** $400 USDC + $400 of esFDX
* 📈 **Top % PnL Trader:** $300 USDC + 300 of esFDX
* 🎁 **Random Draw (for traders with >$1M volume):** $200 USDC + $200 of esFDX

**Bonus Prizes (Unlocked if Total Platform Weekly Volume > $150M):**

* 🥇 **Top Volume Trader:** +$600 USDC + $600 of esFDX
* 🥈 **2nd Volume Trader:** +$275 USDC + $275 of esFDX
* 🥉 **3rd Volume Trader:** +$175 USDC + $175 of esFDX
* 📈 **Top % PnL Trader:** +$150 USDC + $150 of esFDX
* 🎁 **Random Draw:** +$50 USDC + $50 of esFDX

**Bonus Prizes (Unlocked if Total Platform Weekly Volume > $200M):**

* 🥇 **Top Volume Trader:** +$600 USDC + $600 of esFDX
* 🥈 **2nd Volume Trader:** +$275 USDC + $275 of esFDX
* 🥉 **3rd Volume Trader:** +$175 USDC + $175 of esFDX
* 📈 **Top % PnL Trader:** +$150 USDC + $150 of esFDX
* 🎁 **Random Draw:** +$50 USDC + $50 of esFDX

## 🏆 Overall Competition Prizes (Combined performance over 4 weeks) <a href="#id-6722" id="id-6722"></a>

* 🥇 **Top Overall Volume Trader:** $2,000 USD + $2,000 of esFDX
* 🥈 **2nd Overall Volume Trader:** $1,250 USDC + $1,250 of esFDX
* 🥉 **3rd Overall Volume Trader:** $750 USDC + $750 of esFDX
* 📈 **Top Overall % PnL Trader:** $500 USDC + $500 of esFDX
* 🌟 **Random Draw:** $500 USDC + $500 of esFDX

## ⚡ Weekly Asset Spotlights <a href="#a762" id="a762"></a>

Each week, a specific asset will be in the spotlight, offering a **1.5x volume multiplier** for trades involving that asset. This means your trades on the featured asset will count 50% more towards the volume leaderboard.

* **Week 1:** Solana (SOL)
* **Week 2:** TBC
* **Week 3:** TBC
* **Week 4:** TBC

Stay tuned to our channels for weekly announcements on the featured assets.

## 📈 Leaderboards <a href="#id-2d6c" id="id-2d6c"></a>

Two leaderboards will run concurrently:

1. **Notional Volume Leaderboard:** Ranks traders based on total trading volume.
2. **Best % PnL Leaderboard:** Ranks traders based on the highest percentage gains relative to their account size.

*Note: Traders can appear on both leaderboards and are eligible for prizes in both categories.*

## ✅ How to Participate <a href="#id-72e8" id="id-72e8"></a>

1. **Trade on Flex Perpetuals:** All trades during the competition period automatically count — no separate registration required.
2. **Climb the Leaderboards:** Engage in high-volume trading and aim for profitable strategies to rise in the rankings.
3. **Win Prizes:** Top traders in each category will receive USDC and esFDX rewards.

## 📜 Competition Rules <a href="#id-12a6" id="id-12a6"></a>

* **Eligibility:** All users trading on Flex Perpetuals during the competition period.
* **Trade Counting:** Only positions opened after the competition start time will be considered.
* **PnL Calculation:** Includes all open, partially closed, and fully closed positions, calculated in USD net of fees.
* **% PnL Calculation:**\
  1\. **% Return** = (Total PnL) / (Adjusted Collateral Value)\
  2\. **Adjusted Collateral Value** = Initial Collateral + Deposits during the competition\
  **3. Minimum Adjusted Collateral Value to qualify: $100**
* **Sub-Accounts:**\
  1\. Sub-accounts **can be used and will count** towards your notional volume total.\
  2\. **Hedging across sub-accounts is permitted** and considered a valid strategy.
* **Fair Play:** Any attempts to manipulate trades, artificially inflate volume, or exploit platform mechanics will result in disqualification at the discretion of the Flex Perpetuals team.