Waves.Exchange Lambo Giveaway: Invest and Win Lamborghini Huracan
(UPD. on August 17, 2021 we added USDC as an investment option)
Anyone who invests even a small amount of USDT or USDC in the new Waves.Exchange investment product will have a chance to win a real Lamborghini Huracan
The Waves.Exchange team is happy to announce a giveaway! We have launched a new investment product — Lambo Investments. The product allows you to earn about 60% per annum in USDT or USDC by investing in an algorithmic trading strategy with fixed risk.
Investors in Lambo now have a chance to win a real Lambo! We’ll give away Lamborghini Huracan to a random investor of our new product.
What is Lambo investment
Lambo Investments is an algo-trading investment product launched by Waves.Exchange. A user sends USDT or USDC to a smart contract in exchange for USDTLAMBO or USDCLAMBO tokens, whose amount corresponds to their share in the algorithmic trading pool. These funds are used by trading bots on several cryptocurrency exchanges. Trading bots regularly record the results of a trading day. In the case of fixing profits, the value of the USDTLAMBO or USDCLAMBO token increases. There is also a risk of a token drawdown, but, according to strategy settings, it cannot exceed 10% of the high-water mark. Over the last year, the profitability of this trading strategy was 63.7% per annum.
More information on how to invest in Lambo can be found on our blog or in the FAQ on the website.
Rules for participation
To participate in the giveaway, you do not need to go through any extra registration process or KYC. Everyone who invests USDT in the Lambo investment product and follows the official Waves.Exchange Twitter automatically participates in the contest.
Starting August 17, 2021 if you invest USDC you also have an opportunity to participate in the contest.
The contest starts on April 17, 2021, at the block height of 2,550,308 and will last 259,131 blocks, which roughly corresponds to 180 days.
Starting from August 17, 2021 you can also invest your USDC in the Lambo investment product and also become a participant of the contest.
In order to participate in the contest, the average user balance at the block height of 2809439 must be at least 1 USDTLAMBO or 1 USDCLAMBO.
1 USDTLAMBO or 1 USDCLAMBO received and retained on the balance by the end of the contest is a conditional lottery ticket. The larger a user’s average balance and the earlier USDTLAMBO or USDCLAMBO tokens are received, the higher the chance of winning.
How the average balance is calculated
The minimum balance of USDTLAMBO token holders will be taken into account starting April 17, 2021 (the block height of 2,550,308). After 180 days (259,131 blocks), the minimum average user balance for this period will be calculated. The minimum balance of USDCLAMBO token holders will be taken into account starting August 17, 2021 (the block height of 2727222). The minimum average balance is the sum of the minimum user balances for each day of the contest from 00:00 UTC to 23:59 UTC, divided by the number of contest days.
Average balance calculation formula: (minDayBalance1 + minDayBalance2 + minDayBalance3 + …) / 180 (daysCount).
Please take into account that the daysCount stays the same for USDCLAMBO.
An important factor influencing users’ chances of winning is not only the amount of their investments, but also the time when they were made. Consider the example: Alice, Bob, and Carl invested in Lambo the equivalent of 100 USDSTLAMBO each but did so at different times. Alice obtained USDTLAMBO tokens on April 17, Bob on July 17, and Carl on October 14. Under the average balance calculation formula, after a 180 day period, Alice’s average balance will be 100 USDTLAMBO; Bob’s average balance will be 50 USDTLAMBO, and Carl’s less than 1 USDTLAMBO.
Thus, Alice who entered the contest earlier, will have twice the chance of winning a Lambo as Bob. Carl won’t be included on the list of participants at all due to an insufficient average balance (less than 1 USDTLAMBO in 180 days).
Step-by-step guide for participation
- Log in to your Waves.Exchange account or create a new one if you don’t have it yet. It takes just a few minutes.
- Go to the Lambo investments page > USDT or USDC in the Investments section.
- Deposit USDT or USDC to your wallet. Push the “Deposit” button in a small window displaying the USDT or USDC balance. You can deposit ERC-20 USDT or Waves USDT. You can also quickly deposit tokens with MetaMask.
- Push the “Invest” button and specify the amount. The minimum amount for investing is 10 USDT or USDC. Read the rules and risks and push the “Invest” button once again. Confirm the transaction. Please mind a transaction fee of 0.005 WAVES. The transaction fee can be paid in USDT, USDC or ETH as well.
- After investing, the corresponding amount of USDTLAMBO or USDCLAMBO tokens will be allocated for you. Tokens are locked in the smart contract address every day from 11 am UTC to 12 pm UTC (upd. April 29, 2021).
- Push the “Get USDTLAMBO” or “Get USDCLAMBO” button to withdraw tokens from the smart contract to your wallet. Note: If you do not withdraw LAMBO tokens from the contract, your address will not participate in the contest.
- Follow the official Waves.Exchange Twitter.
- To participate in the contest, the average balance of your USDTLAMBO tokens must be at least 1 USDTLAMBO in 180 days or 1 USDCLAMBO in 60 days.
- Done!
How the winner is determined
The list of participants will be determined on the day following the recording of the trading day results for October 14. The number of the participant’s mentions on the list corresponds to their average balance throughout the entire period of the contest. The winner will be chosen using the Waves Randomizer dApp — a random number generator. The application will randomly determine the winner’s address. All computational data is recorded on the blockchain, which guarantees the transparency of the count.
The winner’s address will be published on the official Twitter and other Waves.Exchange channels no later than October 21. The owner of the winning address must be subscribed to the official Waves.Exchange Twitter. If this requirement is not met, a new address will be generated by the Randomizer application.
The winner will be offered a Lamborghini Huracan 2021 LP 580–2 Coupe or a cash equivalent of 240,000 USDN. The car with the keys can be picked up in Dubai, UAE. We guarantee delivery of the prize within 30 days from the date of the winner’s confirmation.
The winner will need to contact the Waves.Exchange team via Twitter. The winner will need to be identified by making a test transaction from the winning address to the address proposed by the Waves.Exchange team. If the owner of the winning address does not get in touch within two weeks from the moment of the winner announcement, the Randomizer dApp will generate a new address.
Good luck in getting your Lambo!
