A leading trading platform’s Alpha board is hosting an O trading competition. The most prominent rule is: only buy volume is counted; sell volume is not included.
There are 184,000 O in each of two rounds, shared equally among the top 2,000 users by buy volume per round. The first round runs until October 7, and the second round until October 14. On the first day, buy volume is multiplied by 2, and then it decreases day by day.
Some people claim that each qualifying participant receives about 92 O, valued at roughly $53 at the time. Rewards must be distributed by October 28, and after rewards become available for claiming, participants have 14 days to claim them actively; otherwise, they may expire and be forfeited.
The key takeaway: this kind of design that only rewards buying can amplify buy-side momentum in the short term, but it rewards trading activity rather than conviction or holding confidence. Since sell volume doesn’t affect the ranking, participants have little incentive to sell during the event; any real sell pressure may simply be delayed until after the competition ends.
Trading volumes involving third-party decentralized applications, cross-chain bridging, and trades between Alpha tokens and other tokens are not counted, so the volume-spoofing threshold isn’t low. That raises the question: if people buy just to chase the ranking, after the competition ends, who will take these chips?
There are 184,000 O in each of two rounds, shared equally among the top 2,000 users by buy volume per round. The first round runs until October 7, and the second round until October 14. On the first day, buy volume is multiplied by 2, and then it decreases day by day.
Some people claim that each qualifying participant receives about 92 O, valued at roughly $53 at the time. Rewards must be distributed by October 28, and after rewards become available for claiming, participants have 14 days to claim them actively; otherwise, they may expire and be forfeited.
The key takeaway: this kind of design that only rewards buying can amplify buy-side momentum in the short term, but it rewards trading activity rather than conviction or holding confidence. Since sell volume doesn’t affect the ranking, participants have little incentive to sell during the event; any real sell pressure may simply be delayed until after the competition ends.
Trading volumes involving third-party decentralized applications, cross-chain bridging, and trades between Alpha tokens and other tokens are not counted, so the volume-spoofing threshold isn’t low. That raises the question: if people buy just to chase the ranking, after the competition ends, who will take these chips?