Intro

Welcome to the FOCKING MAD WARS — a trading competition for perpetual domination! This first of its kind experience, combines the best of DeFi, NFTs, and wallet technology to create a social experience unlike any other, pitting the different factions of the Mad Lads community against one another with a singular goal — victory.

Over the course of the next few weeks, competitors will enlist, choose their allegiance, recruit, learn, and win. What will your legacy be?

Tldr

So… what the fock are the Mad Wars anyway?

1. The Mad Wars are a team based perps trading competition on Zeta for both holders and non-holders of Mad Lads NFTs - with lots of prizes up for grabs.

2. In order to be eligible to participate, both holders & non-holders will need to claim OR earn their whitelist token in order to be eligible to mint the Mad Wars xNFT: see here

3. For holders, a snapshot will be taken on 10th July 2023 at 17:00 UTC - best be staked, anon. If you're in the snapshot, you'll be airdropped a Mad General token making you eligible for the competition.

4. If you're a non-holder, you can either be recruited OR enlist to earn your whitelist token.

5. The Mad Mint will take place on July 12th at 15:00 UTC with the entire minting experience for the xNFT taking place within Backpack. The mint will be live for 24 hours for anyone holding a whitelist token - details here

6. Once the competition starts (see timeline here) you'll be able to check the leaderboard using our very own xNFT that you will mint with your whitelist token - see here

7. Still have questions? Hop in our Discord and we'll help point you in the right direction!

Oh and... all fees generated from the trading competition will be used to sweep Mad Lads off the floor and distribute them to the most successful team. Happy fockin' trading!

Timeline

06/28/2023, 15:00 UTC - Mad Wars Announced

07/10/2023, 15:00 UTC - Mad Lads Snapshot

07/12/2023, 15:00 UTC - Mad Mint - Let the Mad Wars begin!The mint will last 24 hrs

08/02/2023, 15:00 UTC - Mad Wars Competition Ends

Whitelists

How to earn them and what they get you.

Mad Whitelists are the ultimate currency in the Mad Wars trading competition. They are your entry ticket into the Mad Mint - the gateway to the Mad Wars.

There are three different whitelists, each of which are earned through various activities and confer a different set of benefits.

1️⃣ Mad General

The Mad General whitelist token is an honor bestowed upon Mad Lad holders - granting them a direct path into the Mad Wars trading competition. Competitors who mint the Mad War xNFT using the Mad General whitelist token automatically qualify for all prizes.

The token will be airdropped to all Mad Lad holders included in a snapshot taken on July 10th at 17:00 UTC.

This is by far the easiest path to competition entry and confers the most benefits. So if you've been waiting for the right time to buy, go now and buy a Mad Lad!

2️⃣ Mad Recruit

The Mad Recruit whitelist token is a special token given to the Mad Lad sub-community teams to bolster their ranks with the best non-holding traders they can find!

How does it work?

Each team is given three Mad Recruit whitelist tokens. These tokens can then be used to "recruit" individuals who are not Mad Lad holders onto Mad Lad sub-community teams. The tokens come pre-labeled with the team trait set to the team which they are granted to. When non-holder is accepts one of these tokens, they will only be able to join the team that recruited them when minting during the Mad Mint.

These tokens are the only path for non-holders to take part in the team game, and thereby provide access to all the same prizes that minting with a Mad General whitelist token does. As such, they are extremely valuable!

3️⃣ Mad Trainee

The Mad Trainee whitelist token is the entry-level access point for non-holders into the Mad Wars xNFT trading competition. These tokens can be acquired in one of three ways:

1. Enlistment at the Mad Conscription recruiting station

2. Learn and earn on the Mad Trail

3. Partner giveaways

Each of these paths has different requirements and will offer differing odds of success for whitelist acquisition.

Entrants who mint the competition xNFT with a Mad Trainee whitelist will only be eligible for the "Global Individual" prizes.

Teams

Know Thy Foe

Mad Lad holders that are airdropped a Mad General whitelist token or non-holders that are recruited using a Mad Recruit whitelist token are eligible to compete in the team competition and qualify for all prizes.

The following is the list of Mad Lad sub-community teams that will be represented in the Mad Wars xNFT trading competition and where you can reach them.

Alberts | Galaxies | Lassies | Busters | Skulls | Ballers | Androids | Scouts | Naked

If you are holding a Mad Trainee whitelist token, then you only qualify for the global individual prizes. However, if you wish to qualify for the team prizes, you can head over to the Mad Trail - where the top 10 non-holders on the leaderboard will be granted a Mad Recruit whitelist token to join the Mad General team, comprised of Mad Lad holders that do not fall into any of the pre-existing Mad Lad sub-communities.

Team Eligibility and Determination

Tldr

Team determination and eligibility will vary depending on which whitelist token you are minting with and what Mad Lad(s) you hold in your minting wallet.

Eligibility

Team eligibility is strictly determined by the whitelist token type that a user mints with. Holders of the Mad General and Mad Recruit whitelist tokens are eligible for the team competition and thus convey team eligibility, while holders Mad Trainee whitelist tokens are only eligible for "Global - Individual" prizes and have no team eligibility.

Determination

Mad Recruit

If you are holding a Mad Recruit whitelist token, that means you received and accepted an offer from a specific Mad Lads sub-community team. As a result, your team is pre-determined and during the Mad Minting process you will only have one option, which is to select this team!

Mad General

If you are holding a Mad General whitelist token, then the team(s) which you are eligible to join is dependent upon the different traits of the Mad Lads you hold. The following are a couple of examples:

1. You hold multiple Mad Lads - one Lassie Buster, one Baller, and one Albert. Across these 3 Mad Lads you have a combination of traits that qualifies you for 4 different teams: Lassies, Busters, Ballers, and Alberts.

2. You hold one Mad Lad - a Galaxy Lassie Buster. In this single Mad Lad, you have a combination of traits that qualifies you for 3 different teams: Lassies, Busters, and Galaxies

During the Mad Mint, you will be given the option to choose which team you wish to represent in the Mad Wars. Once chosen, your allegiance cannot be changed - choose wisely!

Team Trait Mapping

The following are the traits which dictate which Mad Lads qualify for which teams. In cases where there are multiple traits, these are "OR", meaning that a Mad Lad can have either one and qualify for that team.

For Mad Lads that don't fall into any of these teams, they will be eligible for a "Mad General" team. This ensures that all Mad Lad holders qualify for the team game, and that no one is left out!

Mad Conscription

What is it?

Recruitment Station for the FOCKING MAD

The Mad Conscription "recruitment station" is a landing page where Mad Trainee whitelist tokens can be acquired. These tokens will be offered in limited supply and will be randomly distributed at different times of day in order to provide users across the world an equal opportunity to acquire them. They are mintable on a first come first serve basis.

How will I know when the recruitment office is open?

Your best bet to follow and turn on notifications for @ZetaMarkets and @MadLadsNFT on Twitter. These accounts will be tweeting out when the recruitment office opens and how many new enlistees we will be accepting at that time.

Alternatively, you can try your luck and just periodically drop-in to the recruitment office at enlist.zeta.markets.

Mint Limits

Users are only allowed to mint one Mad Trainee whitelist token. Attempting to mint more than one will result in disqualification from the Mad Wars.

Mad Trail

A FOCKING MAD way to learn and earn

As mentioned in the introduction, one of the primary goals we have in hosting the Mad Wars xNFT trading competition is to deepen the pool of prospective traders in the Solana and web3 ecosystems through education.

"We need to dispel the myth that only giga-brain chads can trade perps - perps trading can be for everyone."

The big question then, is how best to accomplish this goal. How does one go about learning the fundamentals of perps trading in a way that is experience-based and lower risk for new users? Enter Trails.

Trails is a product that is aiming to solve this exact problem - creating incremental learning pathways for users on-chain to help them progressively level-up and gain exposure to new protocols. We've partnered with Trails for this exact reason, to create a gamified perps learning experience - a competition before the competition.

Learning Objectives

The Mad Trail aspires to address the following learning objectives to help prepare new traders for trading during the Mad Wars and beyond

• What are perps?

• How do you trade them?

• What are the benefits of trading perps vs. spot?

• What is leverage and how do you use it?

• When should you exit a position?

Audiences

Inexperienced Traders

The base of users on Solana, and really in web3 in general, who are familiar with perpetuals and how to trade them is quite small. Consequently, we believe the best path to onboarding new traders in an easy to understand and somewhat de-risked manner, is through a highly curated and gamified experience.

Through it, users can incrementally and progressively level up the frequency and size of their trades to learn about entering and exiting positions, leverage, and appropriate risk management.

Non-holders

During the post-announcement pre-competition period, non-ML (Mad Lads) holders will have two paths to gaining access to the trading competition. The first is the Mad Conscription landing page, which will contain Mad Trainee whitelist tokens that are randomly disbursed in small increments. The other path to do so will be through the Mad Trail.

In addition to leveling users up skill-wise, we see Trails as an opportunity to give non-ML holders a path to earning at a minimum, a Mad Trainee whitelist token, and at best, an opportunity to get in on the team game.

Activities

Key Activities

TradingFrequency (how often)Consistency (how many days in a row)Volume (how much)Trading multiple marketsLonging and shortingPlacing different order typesUsing leverage

Scoring

Points/XP will be awarded in one of two ways - achievements and incremental progress. The following breakdown articulates which activities fall into which categories.

Achievements

• Executing first long

• Executing first short

• Executing first limit order

• Executing first trade in each asset market (SOL, ETH, BTC, ARB, APT)

• Executing at least one trade each day

• Executing a trade with greater than 1x leverage

Progressive

• Trading volume: Users earn XP for each successive level of cumulative trading volume they attain e.g. $100, $500, $1K, $2.5K, $5K, $10K

Rewards

Mad Trainee Whitelist Tokens

Every user that earns a minimum amount of XP will earn a Mad Trainee whitelist token. The Trails team will be given a certain amount of tokens so that they can distribute these to users as they accomplish the requirements to earn them.The only caveat is that prior to distribution, the Trails team will need to check the user’s wallet to ensure that they’re not already holding a Mad Trainee whitelist token acquired via the Mad Conscription recruiting office or through community giveaways.​

Mad Recruit Whitelist Tokens

Upon announcement of the competition, every community lead heading up a competing team will be airdropped 3 Mad Recruit whitelist tokens. These tokens will come pre-labeled with the team to which they are associated, and can be used to recruit non-ML (Mad Lad) holders to join their team. These tokens are the only way non-ML holders can get in on the team game, and thus carry enormous value. Only existing Mad Lad sub communities will receive them.Any Mad Lad holder that doesn’t fall into an existing community will be grouped into a “general” Mad Lads team, however because there is no leadership, there is no central person to recruit non-ML holders. In an effort to give more non-holders an opportunity to get in on the team game, 10 Mad Recruit whitelist tokens will be given to the Trails team to distribute to the top 10 performers on the Mad Trail leaderboard. An epic prize worth a lot to those trying to win a Mad Lad.

​Seed Funding

Independent of a whether a user is a Mad Lad holder or not, users who are at the top of the Mad Trail leaderboard will be eligible to win SOL which can be used to boost their trading stack ahead of the competition.

(Mad) Minting

Wen? SoonTM.

Join discord for the alpha.

Mad Wars xNFT

The Mad Wars xNFT is the central hub for tracking competitor activity and performance. This xNFT will serve as the de-facto scoreboard for the competition.

The xNFT is divided into three section, each of which track volume, absolute pnl, and % pnl:

1. Mad Board

2. Team Leaderboard

3. Global Leaderboard

The Mad Board tracks the aggregate volume and performance of team members from the respective team groupings e.g. Alberts, Galaxies etc. Each member of a team has their trading activity added together and then performance is evaluated based on this summed total. Only users who are participating in the team game will be included here.

Detailed info on the prizes for the best performing teams can be found here.​

Team

The team leaderboard tracks the individual performance of members from specific teams, such as the Lassies. Only users who are participating in the team game will be included in this total.

Detailed info on the prizes for the best performing teams can be found here.

Global

The global leaderboard tracks the performance of all members of the competition. This leaderboard will be used to crown the "best trader". This is where users who mint from the Mad Trainee whitelist can track their performance (since they will not show-up in either the Mad Board or Team Leaderboard).

Detailed info on the prizes for the best performing teams can be found here.

Prizes

To the victor go the spoils

The intention for the Mad Wars from the beginning, has always been to provide as inclusive an experience as possible - from development, to education, to whitelists, and beyond - this has always been the design. As such, the prize experience should be no different.

The prize pool has been divided into tiers, with users at all levels having something to strive for. They are as follows:​

• Team - Overall​​

• Team - Individual​​

• Global - Individual​

That's cool, but what the fock are the prizes?

• Mad Lads will be swept from the floor from fees generated during the Wars

• Breakpoint flights & tickets

• IRL Rugs

• Mad Lad merch

• More?! Maybe

Huge thanks to our friends Helius, Squads, Pyth & Rain for making this possible.

Team - Overall

TLDR

Trade volume and trade well. The more volume traded, the better your odds will be of winning the raffle. The better your PnL, and that of your team, the more of a boost your volume (and thus your odds) will get. The prize: more Mad Lads.

Prize

In a hat tip to our friends over at Tensor, we will be taking all the trading fees generated throughout the competition and using them to sweep the floor of the Mad Lads collection. These swept Mad Lads will then be raffled off to qualified participants of the team competition based on volume traded.

Each dollar traded is an entry into the raffle with the top 5 teams determined by team PnL, receiving a volume multiplier to boost the collective odds of their members as compensation in exchange for their trading prowess and performance.

Volume Multiplier Bonus

Scenario

Consider the following scenario leaderboard 👇

Based on the initial trading volume, the Skulls (who are in last place), would've had the best odds collectively as a team to win raffled Mad Lads at 56%. However, because the Busters earned 1st place, they received the highest volume multiplier (20x), boosting their collective odds of landing a Mad Lad from 6% to 31%, better than the Skulls!

In this way, we intend to reward trading well and trading volume, as opposed to just the latter. Additionally, we'll be watching for wash trading 👀

Any trader found to be wash trading will be disqualified 🙂

To Qualify

Trade a minimum of $150K of cumulative notional volume, as a team, over the course of the competition. This is equivalent to trading $50K of volume collectively as a team each week during the competition.

Team - Individual

TLDR

Trade well, it's that simple. Team rankings and prize earnings are based on PnL. The prizes: one of a kind rugs and Mad Lads swag.​

Prize

A FOCKING (SUBCOMM) RUG

Unique and amazing communities deserve prizes that are equally as unique and amazing. As such, the best trader (e.g. the trade with the best PnL) on each qualified team will win a 1/1 rug (2'x2') of their team's sub-community logo, made by our friends and the official rug makers of the Mad Wars, Rug & Tug. The following are examples of their work:

MAD HOODIES

Not the best? That's fine! The runner-up on each team will win an uncommon Mad Hoodie. Maybe you missed the snapshot, maybe you held too few Mad Lads - either way - this is your chance at redemption (and warmth)!

To Qualify

• Trade a minimum of $15K of cumulative notional volume over the course of the competition as an individual. This is equivalent to trading $5K of volume each week during the competition.

• Team size must be at least 5 traders

Global - Individual

TLDR

Trade well! Again, it's really that simple. Global rankings and prize earnings are based on PnL. The prize: a Mad King rug fit for a king and the chance to attend Breakpoint (for free).*​

Prize

THE FOCKING (MAD) KING (RUG) OF TRADING

The Global leaderboard - the ultimate PvP competition where all you have is your trading stack, your charts, and your guts! This leaderboard is how we will ultimately crown the "King of the Mad Wars", and it's only right that a king earns a king. The best overall trade in the competition, regardless of team status, will win a 4'x4', 1/1 replica, of the Mad King. This is the grand prize of the entire competition.

BREAKPOINT BOUND

We're sending 5 people to Breakpoint! You did not misread that.

The five best traders on the global leaderboard will receive tickets and airfare to get them to Amsterdam for Breakpoint 2023. You might be thinking - I don't have the biggest stack to trade with, I can't win - that doesn't matter! Remember, your place on all leaderboards is based on PnL. So focus on trading well and let the rest just happen.​

To Qualify

Trade a minimum of $15K of cumulative notional volume over the course of the competition as an individual. This is equivalent to trading $5K of volume each week during the competition.

Mad Memes

Welcome to the Mad Memes!

Meme Contest

The rules are simple. Post your funniest and most creative memes in #MadMemes in the Zeta Discord.

​Bonus points will be awarded if you spread the laughter on Twitter by tagging two members of an opposing team and use the hashtag #MadMemes.

Finalists will be selected based on community popularity! Then the Zeta team will choose the three winners from among these.

Prizes

• 1st Place: Mad Wars IRL Rug

• 2nd Place: Mad Hoodie

• 3rd Place: Mad Tee

Duration

Mad Memes begin on Friday July 7th at 18:00 UTC and end at 00:00 UTC on Monday 10th of July.