CoinFLEX Announces Play-to-Earn 'AMM+ Arena' Campaign

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Automated Market Makers (AMMs) have seen tremendous growth in the last 18 months as a powerful way to earn yield in decentralized finance. CoinFLEX is the first centralized exchange (CEX) to launch an AMM for the futures market.

The AMM, called AMM+, trades directly in CoinFLEX’s perpetual futures market and offers users unique features that dramatically increase users’ capital efficiency. Specifically, users can trade with up to 10x leverage and have the option of choosing from multiple collateral types.

Because of leverage, the futures markets are orders of magnitude larger than the spot markets. Therefore, users benefit from higher trading volume compared to DEX volumes. For reference, the total value locked (TVL) in Uniswap is roughly $6.5 billion but trades $1 billion in daily volumes. Comparatively, the CoinFLEX AMM+ has approximately $100 million TVL and has already traded between $200 million to $1 billion in daily volumes.

With the option of multiple collateral types, if users have assets earning little to no yield elsewhere, they can put the funds to work in the AMM as collateral. For example, you can use BTC to trade an ETH/USDC pair.

To promote the launch of the AMM+, CoinFLEX is launching a trading competition called ‘AMM+ Arena’ that will reward the top 10 weekly APR earners.

How Does CoinFLEX’s AMM+ Arena Work?

The primary focus of the AMM+ Arena is the trading competition. Users will be able to reference a leaderboard, which shows where you place amongst your peers and the performance of the top 10 AMM+ Arena users.

Users compete to earn the highest 7-day average APR in the AMM+. The prizes will be rewarded weekly based on the previous week's total trading volume. The prizes will be divided amongst the 10 highest earners accordingly:

1st – 30%     2nd – 20%     3rd – 12%     4th – 10%     5th – 8%     6th – 6%     

7th – 5%     8th – 4%     9th – 3%     10th – 2%

The process to enter the competition is extremely easy and only requires a CoinFLEX account. Users can sign up in minutes with email or MetaMask. All you need to do is create an AMM+ position with a minimum of $1,000.

The size of the competition prize pool is based on the aggregate trading volume of each week across all AMMs. The prize pool is divided into 3 tiers.

Tier 1 - $100 million total AMM+ trading volume to unlock $3,000 prize pool. 

Tier 2 - $500 million total AMM+ trading volume to unlock $5,000 prize pool. 

Tier 3 - $1 billion total AMM+ trading volume to unlock $10,000 prize pool. 

The prize pool is distributed amongst the top 10 ranking players.

What are AMM+ Arena Missions?

Weekly missions are personal objectives tied to your trading volume targets. You are automatically enrolled into the weekly mission as soon as you set up an eligible AMM+ position. There are 3 mission tiers; when you reach the corresponding trading volume thresholds, you can claim your rewards and review your reward history in your balance page.

How is CoinFLEX incorporating NFTs?

The third feature of the AMM+ Arena are the limited edition NFTs. The first 100 eligible AMM+ Arena participants are eligible to claim an Arena NFT. The weekly champion is entitled to claim exclusive NFTs that represent their selected Arena character legend. Each Arena legend will only have 5 unique editions.

Eligible users will need to provide their email and Ethereum addresses to claim their NFTs. CoinFLEX will then transfer the NFT to the verified Ethereum address, which the holder can view on OpenSea. 

For more information and to enter AMM+ Arena, click here.

About CoinFLEX

Founded in 2019, CoinFLEX is the Home of Crypto Yield and is committed to providing institutional and retail investors an easily accessible platform to earn and trade crypto.

CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most capital-efficient automated market maker in the world. CoinFLEX is backed by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.

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The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.