Every week, SMART Alpha pools determine a winner depending on how the underlying asset’s price moved. Users who are able to pick the right side wind up with more of the underlying asset. A user who correctly chooses the right side every epoch is effectively accumulating the underlying asset and possibly increasing the dollar value of their position, week in and week out.
The stories that could come out of someone nailing this dynamic for consecutive epochs could prove to be spectacular. In particular, going into the senior side for a large drop and then correctly moving to the junior side to catch a mean-reversion bounce while others were fearful could result in significant gains in a short period of time.
I’m proposing we host a “Last Degen Contest” that leans into this dynamic by highlighting users who are able to string together the best streak.
Create a Proof of Attendance Protocol (POAP) NFT for each week
Distribute it to addresses who properly decided that epoch and which own the previous epochs’ winning POAPs (excl. for the first week’s distribution)
Crown the person(s) that receive the last wave of POAPs (i.e. when there is no longer who picked right that epoch but had all of the preceding POAPs)
The winner would get a sum of money and bragging rights. The reward should probably be a flat sum or x% of average deposit size, whichever is higher.