Join the Base Trading Competition for USDC and $pVLV Rewards!
Compete for 1,000 USDC and 4,800 $pVLV in epoch 1 of the Base Trading Competition.
A little less than a month ago, Velvet Capital released on Base. Allowing users to trade and yield farm their favorite tokens and DeFi protocols.
Now we are starting a trading competition with USDC and $pVLV reward each epoch (two-week period) where the top vaults by return will compete for the prizes.
Steps needed to enter
To join the competition, you will have to do the following:
1. Create a Public Vault on the Velvet Capital Base App
2. Add Liquidity: Deposit a minimum of $100 into your Vault to enter
3. Trade Actively and Use DeFi Protocols: Trade in and out of various positions and find yield-generating assets to maximize returns of your vault (remember on top of the trading competition $pVLV, there is also 2 $pVLV rewarded for every $1,000 in trading volume)
Rewards
In the trading competition, the top 10 vaults at the end of each period will be rewarded through points, USDC, and Founders Club NFT (the sale ends on 9/11). The rewards will be distributed after each epoch (there will be multiple) which will last 2 weeks with the first one ending on 9/15.
The prizes will go solely to the vault manager.
What can you trade on the Base App
On the Base App, users can trade any altcoin on Base and get in and out of top DeFi Protocols (Aerodrome, Aave, Compound, Beefy, Renzo, and Uniswap). Over time we will continue to add more DeFi Protocols and if you want to see one added to the app, let us know in our Discord or Telegram channels.
On the app, there are three main use cases for Velvet (will need a public vault for the Trading Competition):
1. Personal Vault: Create a personal vault and manage your portfolio: trade any token (one-to-one and many-to-many) and don’t get front-run, use multiple DeFi protocols within your strategy to generate additional yield and seamlessly hop between them in a single click.
(ideal for crypto-native or crypto-curious users who want to be in control)
2. Private or Open Vault: Create a vault and bring your community to join it: allow only whitelisted wallets to deposit or open it up to everyone. Your followers will get the same execution price as you and avoid getting front-run.
(ideal for public traders, private trading groups, investment DAOs, and KOLs/influencers who want to nurture their community & build track record)
3. Custom App: Spin off an app under your own web domain & branding to preserve direct client relationships. Instead of spending hundreds of thousands of dollars and months on development, you can use our out-of-the-box stack.
(ideal for crypto & fintech projects, hedge funds, and asset managers who want to launch DeFi products for their clients)
Velvet Liquidity Mining Program
With the Velvet Capital Liquidity Mining Season 3 all users on the Base App will earn 3x the $pVLV Rewards for a limited time!
Daily $pVLV rewards on the app are based on:
1. Total Value Locked (TVL) — Earn $pVLV for every $ you have on Velvet
2. Total Value Referred (TVR) — Earn $pVLV for referring your friends
3. Total Value Managed (TVM) — Earn $pVLV for every $ others put in your Vault
4. Trading Volume - Earn $pVLV for every $ you trade