LFG!!! has announced the launch of its Perps DEX Testnet, inviting users to participate in a trading competition. This initiative allows participants to experience the platform before its mainnet release. The testnet phase will run for 10 days, during which users can engage in trading activities and compete for rewards.

Participants in the testnet will receive a faucet of 10,000 USDC (testnet) to trade with. The competition will feature a leaderboard where users can climb ranks by boosting their trading volume, maximizing profit and loss (PnL), and maintaining a strong USDC balance. At the end of the competition, top performers will share a reward pool of $35,000 worth of $LFG, based on the TGE listing price.

The current testnet is accessible only via desktop, with a mobile version expected to be available soon. Users can start trading by visiting the platform’s website and choosing from trading pairs such as BTC/USD, ETH/USD, and SOL/USD. The competition marks the first epoch, with the possibility of additional epochs being added later.

For more details on the testnet launch and competition, visit the official announcement here.

Why This Matters: Impact, Industry Trends & Expert Insights

LFG!!! has launched its Perps DEX Testnet, inviting users to participate in a trading competition to experience the platform before its mainnet release. This initiative provides users with the opportunity to engage with the platform’s features and compete for rewards.

Recent industry reports indicate that a significant trend in decentralized exchange testnets includes the launch and upgrade of DEXs with integrated automated market makers (AMMs). This highlights ongoing efforts to improve user experience and security before mainnet deployment. LFG!!!’s launch of its Perps DEX Testnet aligns with this trend, as it aims to refine its platform’s functionalities and user engagement before the mainnet release.

As per insights from a recent report, perpetual DEXs are significantly impacting the DeFi derivatives market by rapidly growing in volume and challenging centralized exchanges (CEXs). This reinforces the significance of LFG!!!’s testnet launch and trading competition, as it positions the platform to potentially capture a share of this growing market segment.

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