iSwap, a cross-chain transaction platform, together with Mdex, a decentralized AMM exchange (DEX) based on HECO, today launched the “Cute Elephant” Speed Challenge. From Sept. 8th through Sept. 15th, participants will trade digital assets as quickly as they can for a chance to win more than $16,200 in rewards, including “Cute Elephant” NFTs valued at 200 USDT each.
The only criterion for winning the available rewards is transaction speed. The faster the transaction, the greater the probability of winning. Furthermore, increasing gas fees can speed up transactions which will help participants win bigger prizes. If the transaction speed of two users is the same, the higher total transaction amount will be ranked first. If the total transaction amount is also the same, the earlier transaction time will be ranked higher.
The top five participants will be rewarded with different multiples of the handling fees according to their rankings. For example, if user A is ranked first, his total transaction fee in the campaign is 0.2 USDT so the reward he will get is 2,000 USDT (0.2 * 10000). All other participants who score in the top 500 will have the chance to receive “Cute Elephant” NFT works valued 200 USDT. The NFTs are provided by iBox.com, which is available on the HECO chain.
