Announcing Quest 2 with Bullsharks and Capys

Announcing Quest 2 with Bullsharks and Capys

Well – the first Bullshark Quest was quite the ride! We’re grateful for the incredible participation from the community and the attention your engagement brought to the Sui ecosystem.

Quest 2 Begins!

A reminder that Quest 2 began July 28, 2023 at 12:01 a.m. PDT!

As with Quest 1, Mysten Labs is partnering with the Sui Foundation to offer another big reward for players: 5M SUI. Comprising two pools of 2.5M SUI, the rewards will be distributed after Quest 2 ends on September 5, 2023, 11:59 p.m. PDT.

For Quest 2, we’re excited to expand eligibility to holders of either a SuiFrens Bullshark or Capy collectible. In order to be eligible, you must have a SuiFrens Capy or Bullshark in your account and you can join the Quest at any time during the Quest period (but the earlier the better!).

Please note that in order to maintain your eligibility, you must continue to own one or more Bullsharks or Capys throughout the Quest period.

Quest 2 participants can start earning points now by engaging with the following dApps:

  • Cetus – DEX and liquidity protocol
  • Kriya – institutional grade on-chain trading
  • NAVI – native one stop liquidity protocol
  • Scallop – next generation Money Market
  • Turbos – hyper-efficient decentralized crypto marketplace
  • Typus Financereal yield infrastructure

If you experience any issues with a dApp, please reach out to their own dedicated customer support channels:

More applications may be added after the quest begins. Please note that participants did not accrue any points by interacting with Turbos between July 31 at 9:15 a.m. PDT and August 4 at 4 p.m. PDT.

If you don’t have a SuiFrens Capy or Bullshark right now, you can purchase one via Blue Move or Hyperspace. And don’t forget to buy accessories for your SuiFrens!

Contest information is for informational purposes only and should not be considered as professional or investment advice. Participants are solely responsible for participation decisions, and you assume all risks associated with any participation, trading and investments.

How to earn points

Points are earned for Quest 2 by interacting on-chain with the six dApps. Mysten Labs has tracked every relevant Quest transaction of eligible participants on Sui since Quest 2 began on July 28, 2023, 12:01 a.m. PDT.

To be eligible for rewards, you should:

  • Earn points through interaction with at least three of the six dApps in Quest 2
  • Own a Bullshark or Capy (if the number owned drops to 0 at any point during the Quest, your accrued points may reset to zero)
  • Keep at least 5 SUI held in the aggregate across the dApps you interact with throughout the Quest period, starting August 7, 2023 12:00 a.m. PDT. If your total balance held across the dApps you interact with drops below 5 SUI at any given point, your accrued points may be reset to zero.

Points are a little bit more involved this Quest, but in summary:

  • Each participant can get a one-time points boost from their first actions in each of the dApps, up to 12k per dApp
  • All dApps encourage you to keep your SUI in the dApp for the Quest period, with more points earned the longer the SUI and other applicable assets are held in the dApp
  • For each 1 SUI you keep in the dApp, you get 1 point; and for each 1 USD equivalent (any non-SUI assets) you keep in the dApp, you get 1.5 points, but only up to 1000 SUI (or the coin equivalent) after which you’ll experience diminishing returns and earn less points per SUI deposited
  • Any SUI or applicable assets are only considered rewardable if they are held and deposited in the dApps for a full 24 hours or greater (the two exceptions are swaps and DeepBook orders)
  • Deposits are individually time stamped and must be held in the dApp for a full 24 hours before you earn points from that deposit. As such, separate deposits will reward points at different intervals
  • For each day your SUI and applicable assets are held in the dApp, you will also earn a multiplier (the details of how are explained below)
  • Doing more things on a given day with your SUI and applicable assets in some apps will also earn you a multiplier (also explained below)

*Applicable assets refer to any supported assets on participating dApps whose value can be equated back to USD. E.g. 1 USDC on Kriya will net you 1.5pts.

That’s the high level, now let’s break down how to earn points on each dApp.

Note that the One-time Interaction Boost for each dApp totals 12k points, for a total maximum earning of 72k points across the six dApps.

Note that the list of "other" supported coins in Quest 2 are: USDC, USDT, WETH, TURBO, CETUS, SUIA, WBTC, WMATIC, WBNB, WSOL, and BUCK.

In order to prevent only those with access to large amounts of SUI from placing at the top of the leaderboard, we are implementing a diminishing returns effect. This means that participants will earn full regular points for any SUI, or USD equivalent, deposited up to 1,000 SUI across the dApps they are engaging with. After 1,000 SUI (or equivalent value through other supported coins), though, participants will only then earn reduced points per each additional SUI that’s deposited across any dApp. This diminishing returns effect will not impact your one-time 12k point interaction boost.

Quest 2 introduces a new concept – daily point multipliers:

  1. Duration Multiplier: Participants can earn points by holding SUI in the dApps for consecutive days. After the initial 24-hour period, your deposited SUI starts earning points. Each day you hold your SUI in a dApp, you’ll receive a multiplier based on the number of consecutive days. For example, if you deposit an amount on day one and maintain it for three days: on day two, you’ll earn 2x points, and on day three, you’ll earn 3x points for the initial deposit. Additional SUI deposited after the initial amount will have its own Duration Multiplier. The Duration Multiplier can stack with the Engagement Multiplier.
  2. Engagement Multiplier: For Cetus, Kriya, and Turbos, participants in the top 10% of users making swaps and DeepBook market orders that day (aggregated across all three dApps) will receive a 2x multiplier, while those in the top 11% – 50% (also based on number of swaps that day) will receive a 1.5x multiplier. This multiplier will be recalculated each day at 11:59 p.m. PDT. Please note that this multiplier can stack with the Duration Multiplier and also applies to your total points earned from other dApps.

Here’s a few scenarios, ignoring one time boosts, to help you understand how the above multipliers work:

Scenario A: User A deposits 100 SUI on Day 1 (the first 24-hour period), and withdraws 50 SUI on Day 11. Looking at just the Duration Multiplier, User A will accrue points as shown:

  1. From D1~D10, they have earned (100 SUI * 1x Duration Multiplier) + (100 SUI * 2x on Day 2) + (100 SUI * 3x on Day 3)+...(100 SUI *10x on Day 10) = 5,500 pts.
  2. On Day 11, they will earn 50 SUI * 11 = 550 + D1~D10’s 5,500 pts for a total of 6050 points on Day 11.
  3. If they continue to hold 50 SUI, then by D20, they will have earned a total of 5,500 + 50 SUI *155 = 13,250 pts.

Scenario B: User B deposits 10 SUI, and adds 90 SUI after 9 consecutive days (measured in 24-hour periods). Looking at just the Duration Multiplier:

  1. From D1 to D10, the multiplier stacks to 55x. They will earn 10 SUI * 55 = 550 pts.
  2. After 24 hours, the deposit of 90 SUI will start to accrue its own points and Duration Multiplier.
  3. Note that the 10 SUI and 90 SUI have different timestamps, and so they will trigger separate Duration Multipliers at unique times.
  4. On D11, the 90 SUI will begin earning points and the multiplier from 11 periods of holding 10 SUI will add up, earning User B (90 * 1) + (10 * 11) + 550 = 750 pts.

The Bullshark Quests portal now shows a live leaderboard of all active participants for Quest 2. To view your current score and ranking, connect your wallet on the Quests portal.

Mysten Labs reserves the right to change the scoring methodology at any time for any reason, including to combat any behavior deemed to be cheating.

The Rewards

For Quest 2, there are two reward pools with a total of 5M SUI provided by the Sui Foundation.

The first reward pool of 2.5M SUI will be shared by the top 5,000 eligible players, while the second reward pool of 2.5M SUI will be equally divided among all other eligible players.

Get your SuiFren and start earning points!

You can always join the Quest by adding a SuiFren to your wallet. If your wallet no longer holds a SuiFren, then you will lose any accrued points.

If you have any further questions, check out the FAQ on the Bullshark Quests Portal or go to the Mysten Apps Discord server.