The ongoing dYdX competition is a very good way to make a lot of money simply by trading. But you have to be strategic about it.
Earlier, I told you that @dYdX will be rewarding the top 50 traders on the leaderboard. But if you check closely, you'll see that the leaderboard is actually in PnL tiers:
Tier 1: Below $550m
Tier 2: $550m - $700m
Tier 3: Above $700m
This tells you that your PnL is not the only thing that will determine your rewards. The rewards you get will also depend on your trading volume, and the higher the tier, the higher the total rewards.
What does that tell you?
If you want to win the bigger rewards, you need bigger liquidity. The easiest way to get this is to form a trading cabal and pool your liquidities and strategies together.
That’s how you win here!
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