To celebrate the release of the Raindex app and deployment on Flare, we’re launching a trading strategy competition with $12,000 worth of FLR in prizes.
Whether you’re new to decentralized finance or a seasoned strategist, this competition is a platform to innovate, impact, and get inspired.
Rainlang is a new, onchain language that is the native language of DeFi. It’s designed to be far easier to write than Solidity - if you can write spreadsheet formulas you can probably learn Rainlang.
Why is this important? Raindex gives you the flexibility and power usually associated with CEX trading or running bots, whilst retaining the attributes we’re all here for - it’s trustless, permissionless and decentralised. It empowers users to craft and execute trading strategies without intermediaries. It’s also completely onchain, which means users don’t need to put their funds in someone else’s hands or put their hot wallet private keys in a bot connected to the internet.
Why Flare? Flare offers a unique trust model for the oracles on their network as the data availability and integrity is provided by the validators themselves. Raindex exposes these oracles directly to traders, without needing devs. The Flare Time Series Oracles (FTSOs) words are available in Raindex, to use in your strategies.
To enter the competition you simply need to create your strategy then deploy it on the Flare network. Entries should focus on robustness of the strategy and market adaptability to stand out in the competition.
There will also be a prize specifically for technical writing, judged by Rareskills, the leading web3 educators. Submitting for this prize will also put you in the running for a full-time technical writing job with Rareskills.
Support will be given to all entrants to learn Rainlang and get their questions answered. Best of all, you get to participate in a community dedicated to pushing the boundaries of DeFi.
How to participate
- Join the Raindex community Telegram to get help as you put your strategy together
- Develop a trading strategy in Rainlang through Raindex (Mac only support for now)
- Deploy your strategy on the Flare network and deposit assets to trade
- Share your strategy on X or Farcaster, tagging @flarenetworks and @rainprotocol. This could be in the form of a post, screenshot, video or long form writing. If you are submitting for the technical writing prize, the best would be a blogging platform like Medium.
- Submit your strategy and the deployed strategy’s order ID (submission form coming soon)
Prizes
1st prize - $5000
2nd prize - $2000
Best use of Flare Time Series Oracles (FTSOs) - $2500
Best technical writing - $2500
Judging criteria
First and second prizes will be judged on overall quality, keeping in mind the following criteria:
- Overall elegance - the strategy is well reasoned and the simplest solution to the problem
- Creativity - show off your unique thinking
- Understanding of market conditions - all strategies are not applicable to all market conditions, keep in mind what conditions your strategy is meant for
- Griefing and manipulation vulnerability - think about ways that your strategy could be griefed, manipulated or exploited
Best use of Flare Time Series Oracles (FTSOs) $2500 (Flare)
The FTSOs are decentalized oracles secured by the Flare validators. You can pull FTSO prices into your strategy by using the FTSO words in Rainlang. This prize will be awarded to the strategy with the best use of the FTSOs.
Best technical writing $2500 (Rareskills)
RareSkills is the leading resource for advanced blockchain education. Rainlang is a new language, so there isn’t much documentation yet. This is where you come in! The best written technical article for a strategy will win this prize, the winner will also be eligible for a writing job with RareSkills. Suggestions on how to make your writing stand out are given here: https://www.rareskills.io/post/technical-writing-checklist
Judges
David Meister
David is an experienced developer, long time trader and inventor of Rainlang.
Thanos
Thanos, a DeFi analyst, leverages his extensive experience trading on-chain primitives to fortify the decentralized finance ecosystem on Flare.
Jeffrey Scholz
Jeffrey is the founder of Rareskills, has a passion for education and is an experienced developer in his own right. The RareSkills blog has significantly influenced major projects in the web3 space.