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PnL Challenge

Transact and trade! Take part in stake delegation, borrow, and trade on- off-chain to find αlpha and top the leaderboard. Points are earned proportional to performance. Maximise PnL as a trader on exchanges and p2p, provide liquidity, and maximise staking returns in delegation markets. There are up to 220 winners for PnL challenge!

Synopsis

This task is all about PnL - maximize your profit. Your assets begin off-chain: bridge them to Piccadilly, buy on-chain assets, and then trade on-and off-chain for profit.

As a game participant you receive testnet funds to purchase ATN and NTN on Piccadilly testnet, financing your trading in the round. On-chain you can trade by:

  • Staking. Participate in stake delegation markets, staking to your own or other validator nodes.
  • Borrowing. Participate in ATN borrowing markets, take out a Collateralised Debt Position (CDP) in the Auton Stabilization Mechanism (ASM).
  • Transact and trade.
    • Trade and provide liquidity to the on-chain DEX Decentralized Auton Exchange (DAX). DAX is a Uniswap v2 based AMM with an ATN-NTN pool
    • Trade in the off-chain orderbook exchange, the Centralized Auton Exchange (CAX) for ATN and NTN
    • Trade p2p to make and take orders for LNTN in Airswap RFQ
  • Fill the blocks. Participate in the Gas guzzle challenge, a contract-based economic game calling the contract to receive ATN, making a profit or loss depending on the block base fee.

There are 3 sub-tasks to the challenge during the round:

  • PnL - trade and aim to maximise your profit. See trading opportunities on this page for how and where to trade in the PnL challenge!
  • PnL generating CV - report critical vulnerabilities (CV’s) in on- and off-chain exchange components that can be exploited for profit.
  • Trading bonus - earn a bonus for realizing PnL above the average.

To participate in the task, simply transact on- and off-chain using your registered participant account address. Report any CV’s found using the form provided.

For each task, points are a function of empirical measurements using on-chain queries and, for the Gas guzzle challenge, contract logic. See the scoring rules and task descriptions on this page for details. The task scoreboards can be viewed on the Leaderboards page.

Getting set up to take part in the challenge

Points are earned for levels of transaction activity and trading profit.

Your game funding

There is no ATN or NTN faucet for Piccadilly. Game participants who have registered an account address will receive:

  • basic ‘get going’ funding of 1 ATN and 1 NTN on Piccadilly. This gives you immediate funds to set up a validator node if you want to take part in the Validator SDP challenge task challenge!
  • 1M mock USDC for trading in the game’s on- and off-chain markets, the Centralized Auton Exchange (CAX) and Decentralized Auton Exchange (DAX)
  • an account in the off-chain exchange, the Centralized Auton Exchange (CAX). CAX provides orderbook markets for trading mock USDC for ATN and NTN.

Your principal source of game funding is the 1M mock USDC. This is sent to you on the EVM-compatible Polygon Amoy testnet. You will need to bridge your mock USDC to Piccadilly. This is simple - see the Quick start and the guide bridge mock USDC to Piccadilly.

Use your mock USDC to purchase ATN and NTN in the CAX for on-chain use. Your off-chain CAX account is linked to your on-chain registered participant account, so you can easily move ATN and NTN on- and off-chain any time.

For how to access your CAX account, see the Getting started pages: Quick start and the guide Use the CAX.

This is your single source of game funding!

Every game participant receives the same game funding for fairness. Registering for the game multiple times to get additional funding is not allowed and is considered “Sybil funding”.

Sybil funding goes against the fairness of equal funding to game participants and is considered cheating under the PCGC Terms and Conditions and risks disqualification for the participant account benefitting from Sybil funding.

For how to trade ATN, NTN, and LNTN in the game’s trading venues, see the guides Use the CAX, Use the DAX, and Use AirSwap RFQ.

Your trading opportunities

There are multiple ways and places to trade in Round #6:

  • Trade off-chain on the Centralized Auton Exchange (CAX). Trade in ATN/USD and NTN/USD markets, and create market depth in the orderbook.
  • Trade on-chain on the Decentralized Auton Exchange (DAX). DAX is a Uniswap V2 AMM clone where you can trade and provide liquidity to the ATN/NTN pool. Receive DAX liquidity provider tokens for providing liquidity. If you want, you can create new pools to trade…
  • Trade p2p on-chain on the AirSwap RFQ. AirSwap RFQ is an AirSwap v4.3 clone where you can make and take orders in LNTN markets.
  • Stake NTN. Bond NTN stake token to validators to earn staking rewards and receive Liquid Newton, Autonity’s liquid staking token.
  • Borrow ATN. Borrow ATN for NTN collateral in the Auton Stabilization Mechanism (ASM) by taking out a Collateralized Debt Position (CDP).
  • Earn ATN as transaction fees move. Play a contract-based economic game for ATN profit as block capacity is reached and transaction fee costs move in the Gas Guzzler challenge.

Getting started

To get going trading check out these resources in the Getting started pages:

How to enter

::: {.callout-note title=“How to enrol in the PnL challenge” collapse=“false”}

Ready to take part? Complete the Games Registration Form if you haven’t done so already.

All registered Game Participants are automatically enrolled in the PnL task challenge and awarded a funded account in the off-chain orderbook exchange.

PnL challenge has 3 award tasks. Entry for the tasks is as follows:

Consult the following resources to get going:

  • Trade off-chain, see the Getting started guide Use the CAX for how to trade off-chain and move ATN, NTN on- and off-chain.

  • Trade on-chain, see the Getting started guide Use the DAX for how to trade in the Uniswap v2 AMM and provide ATN and NTN liquidity.

  • Trade p2p on-chain, see the Getting started guide Use AirSwap RFQ for how to make orders OTC and take orders RFQ in Liquid Newton (LNTN) markets.

Use the Autonity Discord AirSwap channel to find fellow p2p traders!

To discover counterparties for p2p trading use the Autonity Discord Server PICCADILLY CIRCUS GAMES / AirSwap channel!

Awards

The task has 3 sub-tasks across which a total award pool of 60000 Award Tributes is distributed:

Sub-task Task award pool share Award Tributes
PnL 60% 36,000
PnL generating CV 30% 18,000
Trading bonus 10% 6,000

The award pools are distributed according to the number of participants that took part in the task and adjusted based on individual score for the task. Higher the score, higher the share of the award pool…

Task: PnL

This task is allocated 36,000 Award Tributes and up to 200 winners.

To take part, simply transact and aim to maximise your profit:

  • As a trader, trade in off- and on-chain in CAX and DAX exchanges and trade p2p in AirSwap RFQ. Arbitrage, make markets, and be a price taker for orders in ATN, NTN, and LNTN markets.
  • As a borrower, take out CDP’s to borrow Auton in Autonity’s Auton Stabilization Mechanism
  • As a liquidity provider, contribute liquidity to the on-chain exchange DAX
  • As a delegator, participate in stake delegation markets and seek to maximise staking returns.
  • As a validator, attract stake delegation by operating a validator with high uptime and competitive commission rates.

Points are scored according to profit earned between floor and ceiling thresholds by analysis of on-chain transactions. See the Scoring rule for details.

Task: PnL generating CV

This task is allocated 18,000 Award Tributes and up to 10 winners.

Find and report a critical vulnerability in the on- or off-chain exchange components used by the task that can be exploited for PnL profit.

Points are scored for each valid CV reported. See the Scoring rule for details.

To submit a CV, follow the process beneath.

Ready to take part? Complete the Games Registration Form if you haven’t done so already.

CV entries are submitted in a 2-step process:

  1. Report – Please do not file a public ticket mentioning the vulnerability. To report the vulnerability, please send an email to to report the security issue.

    The following PGP key may be used to communicate sensitive information to developers:

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  2. Submit – Use Critical vulnerability Submission Form to submit the CV report to the Games.

Submissions are triaged by a community panel made up of the Autonity core development team. Points are earned for submissions that are considered a valid CV report.

Some example scenarios for CV’s exploited for profit could be:

  • exploiting a critical vulnerability in Autonity core software or PCGC On-chain Task software components to profit
  • using Sybil accounts to obtain funds and artificially inflate your profit
  • inflating transaction priority fee tips from dummy accounts to inflate block proposer revenue if operating a validator node in the consensus committee
  • staging arbitrage using dummy accounts to artificially inflate your profit.

Points earned for accepted CV submissions are added to a participant’s username account on the game scoreboard on the next scoreboard update after triage assessment completes.

Task: Trading bonus

This task is allocated 6,000 Award Tributes and up to 10 winners.

The task provides a bonus rewarding those participants that have achieved exceptional trading performance.

Points are scored according to profit earned in excess of the PnL sub-task ceiling threshold by analysis of on-chain transactions. See the Scoring rule for details.

Scoring rule

Each sub-task is scored separately using a methodology based on:

  • an award pool of a fixed amount for a task
  • a floor and ceiling for participation and winner numbers to calculate winner award allocations:
    • a significance threshold \(R\) of 95%. The top ranked users that accumulate 95% or more of the total score for the task are eligible. This puts a minimum score floor on the task.
    • a minimum number of participants below which a partial distribution of the reward allocation takes place - \(N_{fb}\)
    • a maximum number of winners for the task - \(N_{max}\)
  • points are scored for task completion by stated scoring criteria
  • winners are judged by scoreboard position with tie-breaks resolved by scoreboard ranking. In the case that participation is higher than \(N_{max}\), the top scoring participants up to \(N_{max}\) will be chosen as winners.
  • task participation must be significant. Only significantly scoring participants are counted - i.e. the top ranked users that have accumulated the \(R\) of 95% or more of the total score
  • awards from the pool are distributed to the winners. Each winner’s award amount is calculated according to their score and the total number of winners.

The significance threshold puts a minimum score floor on the task. Scores must be in the \(R\) top 95 percentile to be eligible for an award.

The \(N_{fb}\) floor allows for a low participation scenario resulting in the entire award pool going to a few participants rather than the wider community. If this scenario were to happen, then the remaining reward allocation is carried forward for future incentives.

Scoring parameters for the sub-tasks are set as:

Sub-task Sub-budget percent Scoring and allocation method \(r_{ts}\) \(r_{max}\) \(R\) \(N_{fb}\) \(N_{max}\)
PnL 60% 1 pt for each 1USD of realized PnL profit achieved at the end of the Round. Realized P&Ls scoring begins at >=0.5% profit over the mock USDC funding to the off-chain account and scoring is ceilinged @ 200%. Realized profit above the ceiling is ignored - it counts toward the Trading bonus sub-task. 0.5% 200% 95% 30 200
PnL generating CV 30% 100 pts for each valid CV reported N/A N/A 95% 3 10
Trading bonus 10% 1 pt for each 1 USDC of excess realized PnL above the PnL sub-task ceiling of 200% (i.e. excess realized PnL = (total PnL - 200%xCapital) >=0% and ceilinged @ 50%. 0% 50% 95% 3 10

Where:

  • \(r_{ts}\): the minimal performance level for realized PnL. I.e. you have to achieve >=0.5% growth on the amount of mock USDC funded to your off-chain exchange account to qualify and score points
  • \(r_{max}\): the ceiling for realized PnL that counts toward scoring for the task. Realized PnL above this ceiling is not counted.
  • \(N_{fb}\): the minimum number of task participants below which a partial distribution of the reward allocation takes place,
  • \(N_{max}\): the maximum number of winners for the task,
  • \(R\): the significant participant threshold for the task.

Points will be allocated daily, after midnight (UTC). The task scoreboard can be viewed on the Leaderboards page.

PnL

At the start of the round all game participants are given “Fake” fiat funding of 1M USD in their off-chain Exchange Account to fund trading on- and off-chain. PnL is then calculated by summing profit achieved on that original seed funding. Profit is scored by analysis of asset holdings based on a whitelist of valid transactions.

Points are earned for the task based on asset value in USDC at the end of the Round. You earn 1 point for every 1 USD of profit over the 1M mock USDC seed funded to your Exchange Account within the \(r_{ts}\) and \(r_{max}\) thresholds stated in the scoring rule table above. Profit earned over the ceiling threshold \(r_{max}\) are attributed to the Trading bonus award.

Asset holdings

PnL is calculated by summing eligible asset holdings in your off-chain exchange and on-chain participant accounts:

Account Asset Holding
Off-chain exchange Mock USDC
ATN
NTN
Registered participant account Mock USDC
ATN
NTN
LNTN
AMM WATN
AMM DEX (LP Token)
CDP

Valid transactions

A valid transaction for PnL is a trading transaction submitted from your registered participant account to:

  • bridge mock USDC assets to Piccadilly,
  • trade, deposit or withdraw assets in the off-chain orderbook exchange,
  • trade (swap) assets, deposit or withdraw liquidity in the on-chain decentralized exchange,
  • trade (swap) assets in the on-chain decentralized p2p RFQ exchange,
  • deposit or withdraw collateral token and borrow or repay Auton in a CDP,
  • bond and unbond stake token to validators and claim staking rewards,
  • submit transactions to the Gas Guzzler contract to receive ATN rewards.

Transactions analysed to calculate PnL over the Round are:

Legend:

  • PA = Your registered participant account address.
  • EA = Exchange Account. Your account address on the off-chain orderbook exchange CAX.
  • AMM = AMM Contract Account. The on-chain decentralized exchange DAX you are interacting with as a trader or liquidity provider (LP). AMM assets are:
    • (WATN - Wrapped Auton. Deposited ATN is wrapped into WATN during the swap.)
    • DEX - the LP Token received for providing ATN or NTN liquidity
  • CDP = CDP Account. Your CDP account if you have deposited collateral token and opened a CDP in the Auton Stabilization Mechanism.
  • LNTN - Liquid Newton Contract Account. The validator-specific Liquid Newton contract account(s) you interact with to claim staking rewards for Liquid Newton holdings from stake delegation.
Description On-chain movement
Bridge mock USDC to Piccadilly +mock USDC PA
Trade NTN/USDC on Exchange None
Trade ATN/USDC on Exchange None
Deposit mock USDC on Exchange -mock USDC PA / +mock USDC EA
Deposit NTN on Exchange -NTN PA / +NTN EA
Deposit ATN on Exchange -ATN PA / +ATN EA
Withdraw mock USDC from Exchange +mock USDC PA / -mock USDC EA
Withdraw NTN from Exchange +NTN PA / -NTN EA
Withdraw ATN from Exchange +ATN PA / -ATN EA
Swap LNTN/LNTN on RFQ + LNTN PA & -LNTN PA
Swap NTN/ATN on AMM +ATN PA / -ATN AMM & -NTN PA / +NTN AMM (or vice versa)
Deposit NTN & ATN liquidity on Uniswap +AMM DEX PA / +ATN & +NTN AMM
Withdraw NTN & ATN liquidity on Uniswap -AMM DEX PA / -ATN & -NTN AMM
Deposit Collateral Token (NTN) on CDP -NTN PA / +NTN CDP
Borrow ATN from CDP +ATN PA / -ATN CDP
Repay ATN on CDP -ATN PA / +ATN CDP
Withdraw Collateral Token (NTN) from CDP +NTN PA / -NTN CDP
Bond NTN to other-node -NTN PA / +LNTN PA
Bond NTN to own-node -NTN PA / +LNTN PA
Unbond NTN from other-node +NTN PA / -LNTN PA
Unbond NTN from own-node +NTN PA / -LNTN PA
Claim staking rewards from other-node +ATN PA / -ATN LNTN
Claim staking rewards from own-node +ATN PA / -ATN LNTN
Receive ATN rewards from Gas Guzzler contract +ATN PA

PnL generating CV

This task rewards reporting the discovery of a critical vulnerability (CV) in the on- or off-chain exchange components that can be exploited to generate PnL.

100 Points are earned for each valid CV submitted.

Trading bonus

This task rewards exceptional trading performance achieving excess realized PnL over the 200% \(r_{max}\) threshold of the PnL task.

Per PnL, points are earned for the task based on asset value in USDC at the end of the Round. You earn 1 point for every 1 USDC of excess realized profit over the PnL task’s \(r_{max}\) up to a higher ceiling of an additional 50%. Succinctly, excess realized PnL between 200 - 250% \(r_{max}\) counts for scoring toward the Trading bonus task.