Defi App (@defiapp): We want to share an update on the Defi App Trading Contest.

We want to share an update on the Defi App Trading Contest. Before the contest launched, we published full rules in both the launch blog and our docs. Those rules stated that the full $1M prize pool would unlock if the contest generated $2B in perps volume within the first four weeks. We assumed participants would read the rules, but in hindsight we should have made this constraint more visible. So we’re making two changes, both in the favor of contest participants: We’re extending the $2B volume window to the end of the contest. 1. If the contest reaches $2B in volume by December 31, the full $1M prize pool will be distributed. 2. We’ve added a real-time volume progress bar to the leaderboard. This will show exactly how close we are to unlocking the full prize pool. Why does a volume target exist at all? Contest rewards are paid in HOME, and 80% of protocol revenue is used to buy back HOME via the DAO. We designed the contest to ensure incentives and token economics stay sustainable. Today, the contest has generated over $1B in volume. Recent market conditions slowed activity, which is why extending the window makes sense and benefits everyone participating. We are giving traders more time and more visibility to unlocking the full rewards. Full rules are available here: 👉 https://twitter.com/i/web/status/2001751926975926667