Battle Of Yields: $100,000 USD Maiar Exchange Incentivized DEX Competition

Beniamin Mincu
·
Sep 07, 2021
·
6 min read
https://battleofyields.com/
  • $100,000 USD prize pool
  • Registration process is live
  • Competition starts Tuesday September 14
  • Security, tools, documentation, yields contest
  • Runs on the Elrond public testnet with test funds

The Elrond Network mainnet was launched 14 months ago. With LIVE state sharding, staking, smart contracts, tokens, smart accounts, and other impressive features. More importantly, with zero downtime, and no security incidents.

This makes Elrond perhaps the most reliable, secure, and feature-rich LIVE PoS blockchain, operating at internet-scale. Battle of Nodes, the incentivized stress-testing event which came prior to the mainnet launch, was essentially responsible for setting the premise of this robust track record of availability, performance, and security.

It is now time to battle-test the Maiar Exchange

Battle of Yields is an incentivized DEX stress-testing event, where security researchers, DeFi experts, and eager participants can share in a prize pool of $100,000 USD, that will be awarded for Maiar Exchange-related security findings, tool development, guides, documentation, and strategies.

And of course, for the participants who make the biggest yields!

This is essentially the most robust, nuanced, and sophisticated way to validate empirically that the Maiar DEX is ready for prime time.

Battle of Yields Competition

The goal of the Battle of Yields event is to ensure that we bring you the best version of the Maiar Exchange. This goal will supersede everything else, and can lead to changes or adjustments to the timeline and rules in order to achieve it.

The Battle of Yields event has three main components:

Security - $50,000 USD

Contribute to the security of the Maiar Exchange by finding security issues or platform vulnerabilities that can be exploited either to steal funds or disrupt normal operations.

In scope:

Not in scope:

Valid claims can be made through well-documented GitHub PRs, or well-executed attacks, followed by proper documentation. First come, first served.

*DDOS-ing or other similar attacks on the website will not be rewarded. We’re looking to assess the functionality and security under normal circumstances.

Contribution - $25,000

  • Create tools for the exchange: graphs, arbitrage, trading bots, complementary smart contracts, etc.
  • Find bugs and make epic suggestions. In scope: Maiar Exchange, Maiar DeFi Wallet, the Maiar Exchange integrations with the Maiar App, Maiar DeFi Wallet, Ledger, Elrond Web Wallet
  • Improve existing documentation, write new documentation, create guides (articles, video, infographics, etc)

You will be able to submit your contributions via a form, linked below.

Items will be ranked on execution, utility, and originality. So make sure you pick a useful topic, cover it well and in an exciting way. Already existing relevant content is eligible for Battle of Yields rewards, just make sure you submit it when the time comes.

Stay away from over-done topics like “How to login”, “How to swap”, etc, these have already been covered. Only the best-executed item will be selected from similar ones.

Yield competition - $25,000

Everyone starts with the same amount of tokens. Perform swaps, provide liquidity, and farm yield to increase your total worth and win the Battle of Yields. Only registered accounts will have access to test funds.

Sending and receiving test funds and other exchange related tokens, either as griefing or for boosting other accounts, will result in disqualification or significant penalties for the involved accounts.

This is detailed below, scroll down and read, it is important.

How To Join

  1. Go to https://battleofyields.com
  2. Login with Maiar
  3. Input your Battle of Yields wallet address - can be the same one as your Maiar address, we recommend using a new one
  4. Input your Telegram username
  5. Follow these important channels:

Participants who are eligible for rewards will have to complete a KYC process first.

Timeline & Rewards

Registrations are already open and will last until Monday 13 September 23:59 UTC.

The competition begins on Tuesday 14 September 16:00 UTC and lasts until Tuesday 28 September 16:00 UTC.

Throughout the event we might need to make several changes, like resetting the exchange, or even splitting the event into rounds. This is to be expected while validating the capabilities of a platform under heavy stress testing conditions.

In the meantime, you can start preparing by using the public Maiar Exchange testing platform: https://devnet.maiar.exchange/

Submissions will be analyzed and rewards distributed by 08 October.

The rewards will be distributed in $EGLD tokens, at the 7-day average EGLD/USDT parity.

The most scalable engine of the new internet economy is ready to be put to the test. Discover the potential of internet-scale DeFi.

Join the Battle of Yields! - https://battleofyields.com

FAQ

What is Battle of Yields?

Battle of Yields is an incentivized event that is meant to stress-test the Maiar Exchange prior to its launch and discover any remaining security issues. It is a great opportunity to learn about DeFi and get rewarded for creating tools, helpful content and testing the features of the Maiar DEX.

When does it start?

Registrations are already open and will last until Monday 13 September 23:59 UTC.

The competition begins on Tuesday 14 September 16:00 UTC and lasts until Tuesday 28 September 16:00 UTC.

How do I join?

  • Go to https://battleofyields.com
  • Login with Maiar
  • Input your Battle of Yields wallet address - can be the same one as your Maiar address, we recommend using a new one
  • Input your Telegram username

Who can participate? Is KYC needed?

Everyone with a Maiar account can join the fun, receive test funds and be a part of the Battle of Yields competition. People who are eligible for rewards first need to pass a KYC process before being able to claim them.

In order to comply with regulations related to KYC/AML for such events, the following countries are excluded:

Afghanistan, Angola, Azerbaijan, Bosnia and Herzegovina, Botswana, Burundi, Cambodia, Cameroon, Chad, China, Congo, Congo (Democratic Republic), Cuba, Eritrea, Ghana, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Lao People's Democratic Republic, Liberia, Libya, Madagascar, Mozambique, Nicaragua, North Korea, Pakistan, Somalia, South Sudan, Sri Lanka, Sudan, Syrian Arab Republic, Tajikistan, Trinidad and Tobago, Turkmenistan, Uganda, United States, Uzbekistan, Vanuatu, Virgin Islands (U.S.), Yemen, Zimbabwe

How can I submit security issues?

You can submit your findings in a well documented manner as a PR on the GitHub repository containing the Maiar Exchange smart contracts. This is also valid for topics that are not related to the smart contracts themselves, but are valid according to the scope of the Battle of Yields competition.

https://github.com/ElrondNetwork/sc-dex-rs

What is the scope of the security rewards?

In scope:

Not in scope:

Valid claims can be made through well-documented GitHub PRs at this repository, or well-executed attacks, followed by proper documentation. First come, first served.

*DDOS-ing or other similar attacks on the website will not be rewarded. We’re looking to assess the functionality and security under normal circumstances.

How can I report bugs?

Report an issue to this GitHub repository:

https://github.com/ElrondNetwork/battleofyields

How can I contribute content?

You will be able to submit content via this form:

https://elrondnetwork.typeform.com/to/XB2M6UCd

Content that is created before the start of the competition is also eligible for rewards.

How do I make yields?

Swap tokens, deposit liquidity, deposit the resulting LP tokens in Farms, harvest rewards, repeat. The total value of your wallet counts towards your score, so make sure you maximize the “dollar value” through the most lucrative strategies and context-aware tactics.

How will the competition start?

We will airdrop a fixed amount of  test (no real value) EGLD, BUSD, and LKMEX to every participant shortly before the event start, as follows:

  • 5 xEGLD
  • 1250 BUSD
  • 12500 MEX

Everyone will get exactly the same.

At 16:00 UTC precisely, you will be able to access the Battle of Yields test platform and start having fun.

Watch the Announcements channel for the exact link and other useful info.

Important rules!

A. Don't send xEGLD or tokens outside of your wallet. If you do, you are disqualified. Easy to do: don't send xEGLD or tokens, only interact with the exchange.

B. Don't receive tokens. If you do, make sure you forward the entire received amount(s) to this burn address within 24 hours since the "receive" transaction(s):

erd1932eft30w753xyvme8d49qejgkjc09n5e49w4mwdjtm0neld797su0dlxp

If you don't, it gets tricky. You will be penalized for holding or using extra tokens, to the point where your yields won't be competitive. If we notice it's on purpose (you registered multiple accounts or are part of a team, etc), you get disqualified.

Watch your wallet on the explorer or ask around for community tools to help you monitor it. Send any tokens you receive from other wallets, except from the Maiar DEX Smart Contracts, to the burn address.


For more information, please visit us:


#community

Written by
Beniamin Mincu
CEO, Elrond Network