And better than ever!

tl;dr

• Contests are redesigned to be fairer
• Prizes are now in testnet USDC
• Testnet USDC can be cashed out to mainnet USDC, coming soon
• Frontrunner faucet, coming soon

For help getting started, check out our walkthrough.

For further support, feedback, and the most up-to-date future updates, join our Discord.

Preseason v2

What's a Blitz?

A Blitz is a week-long trading competition where Frontrunner traders compete in two separate categories: highest ROI and highest trading volume. The top 3 traders by ROI at the end of the Blitz and the top 3 traders by daily trading volume win testnet USDC. Testnet USDC can be cashed out to mainnet USDC at a 1% conversion rate (subject to change). Blitzes begin and end each Wednesday at 5 AM EDT.

Rules

The following behaviors are not permitted and will result in a ban:

• Wash trading and collusion (including using multiple accounts)
• Intentional or willful conduct designed to manipulate the market by controlling or artificially affecting market prices
• Excessive trading patterns that do not follow the expected free forces of supply and demand
• Transferring testnet USDC between Injective accounts belonging to other users

If you believe your account was banned in error, please reach out to appeals@getfrontrunner.com.

Prizes

Weekly ROI

Minimum 10 trades

Daily Trading Volume

Changes

During the first 6 weeks of trading, we noticed two key areas of improvement:

1. ROI calculation
2. Leaderboard and prizes

ROI Calculation

Preseason v1 used the traditional sports betting ROI calculation, which determines ROI based on total value risked. While this calculation is prominent in the betting world, it became apparent that it was unintuitive in an exchange trading context. In essence, the calculation penalized users who made lots of trades and rewarded users who made long shot bets rather than those who made the most money.

…Not exactly reflective of how people usually view successful trading.

Instead, ROI will now be calculated based on total USDC airdropped. The formula is simple:

\begin{equation}ROI = \frac{\text{ Current Portfolio Value } - \text{ Starting Portfolio Value }}{\text{ Total Airdrop Funds Received }} \times \text{100%} \end{equation}

For example, if you received \$200 as an initial airdrop and later won a weekly ROI contest (worth \$2500), your ROI would be calculated based on a denominator of $2700.

Hopefully this new calculation will be less confusing.

Leaderboard and Prizes

A major challenge in launching a testnet product is providing adequate yet appropriate incentives for users. We noticed that our previous incentives resulted in undesirable and even toxic behaviors.

We narrowed this down to two contributing factors:

1. Blitz rewards were not commensurate with performance, leading to drop-off in engagement once rankings solidified for the Blitz
2. Frontrunner’s lack of control of playing funds resulted in massive discrepancies in player balances and led to market manipulation

To tackle these issues, we are introducing a new cashout mechanism as well as fundamentally changing how playing funds are acquired.

Cashout

The cashout mechanism aims to solve the first issue. By allowing all players an opportunity to earn money proportional to their actual trading performance, everyone now has a reason to participate, regardless of their standing in the leaderboards.

There are a few limitations around cashouts:

• Rollover: you must spend at least 10x the funds you received in airdrops in order to unlock cashouts. For example, if you’ve received \$2500 in airdrops, you must spend \$25000 in trades in order to cash out.
• Weekly limits: when cashouts launch, you will be limited to $100 in cashouts weekly, resetting each Blitz.

Cashouts will by default be sent to the INJ mainnet account associated with your connected wallet. Or, optionally you can provide a mainnet ETH address or INJ address where you would prefer to receive the funds instead. If you provide an ETH address, we will derive the INJ address from it and the funds will be sent there. To view funds on your INJ mainnet account, connect your wallet here.

USDT to USDC

Returning users may have noticed that the currency denomination changed from USDT to USDC. This change was primarily implemented to remove Injective’s testnet faucet as a means for accumulating a large playing balance. With the faucet out of the picture, users now have two ways to acquire more playing funds:

• Blitz prizes: now airdropped as testnet USDC, but able to be cashed out
• Faucet: once your total account value (buying power + current holdings + pending orders) falls below $25, you may request additional playing funds through Frontrunner's faucet

**Prizes are distributed at the discretion of the company. Winners must meet eligibility requirements. Void where prohibited by law.

Last updated December 1, 10 AM ET

About Frontrunner

Frontrunner is a decentralized sports prediction market where users can buy shares of sports propositions and trade them like they would stocks. Unlike traditional sportsbooks where users place a bet and wait, Frontrunner gives users full control over their portfolios, allowing them to dynamically buy and sell positions as the odds change. By leveraging the power of free markets and the blockchain, we create transparent markets and liquid positions to reduce counterparty risk and fundamentally change the way that people invest in their sports knowledge and beliefs.

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