DAWN II Phase 2 — Battle of the Managers
The second phase of DAWN II is now about to begin!
Phase 1, Twilight, was a closed beta that finished up on Monday November 1st. It gave us a chance to robustly stress-test the protocol in production, as well as a huge amount of user feedback that allowed us to significantly upgrade our UX.
Now we’re ready to open things up for a full public mainnet — starting with Phase 2, for Managers only.
Phase 2 of DAWN II will be the Battle of the Managers — the first, and best, chance for managers to prove their capabilities on the Solrise platform by running a fund. BOTM is designed both as a way for us to work closely with the Manager community to get feedback and refine our protocol, and as a way for Managers to establish a performance record on our mainnet platform before we open things up to our Investors.
We see this as the best way for Solrise fund managers to prove their skills in a fair setting before the protocol goes into Phase 3, in which Investors will have their own investor competition running alongside. The managers who build reputations now are likely to be able to attract significant numbers of investors to their fund both in Phase 3 and afterwards!
Phase 2 launches on Friday at 4pm UTC — that is, in a few hours!
How can I compete?
This competition is open to anyone; to start a fund, you’ll need to deposit USDC. The deposit cap for this phase is $1000 USDC, and since performance is based on the cash profit your fund generates, you’ll probably want to deposit the cap if you want to have a serious chance of winning. Even with smaller deposits, however, you’ll be able to demonstrate your skills ready for Phase 3.
How does it work, and what are the rules?
This competition is purely a test of trading skills for the fund managers. The reward table will be based on the cash performance your fund generates — the best manager wins!
For now, the investment tools available will be just as in Phase 1 — a swap built on top of Serum DEX, and another swap built on Raydium.
So what are the rewards?
Check the infographic below to see the prizes!
What comes after this?
The final phase of DAWN II will be Phase 3 — A New DAWN, which will be the biggest and most exciting phase of the competition. Managers will retain their performance records from Phase 2, and Investors will now be able to invest in those funds with their own $1000 deposit limit. Phase 3 will be a two-sided competition for both Managers and Investors, like Phase 1 of DAWN II and the original DAWN.
We should note — managers from Phase 2 will retain their funds going into Phase 3, so they may have an advantage on some Phase 3 competitions by starting with a larger fund size if they trade well, on top of establishing a performance history!Keep an eye on our Discord and Twitter for announcements and updates on our upgrades to the protocol throughout the competition!
