> For the complete documentation index, see [llms.txt](https://docs.perpl.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.perpl.xyz/exchange/tournaments/tournament-2.md).

# Tournament #2

### $100K Monad Cards Invitational

An invite-only, four-week trading tournament, with two leaderboards.

$100,000 on the line.

Bonus prize: Monad Cards Invitational Badge SBT NFT for everyone who participates.

The competition runs from **16 July, 15:00 UTC to 13 August, 15:00 UTC**.

### Who's Invited

The Invitational is gated to two groups:

* [**Monad Cards NFT holders**](https://cards.monad.xyz/)
* **Perpl Points holders above a certain threshold**

The exact Perpl Points threshold will be announced after the Week 5 Perpl Points snapshot.

If you are invited, all you need to do to participate is put in 1 trade.

Your wallet will automatically appear on the leaderboard, and you will qualify for the SBT Badge.

### Two Leaderboards, Two Ways to Win

The competition runs on two independent leaderboards. All traders compete for both. Every market is eligible.

### Trading Contest - $85,000

Ranks traders by a trading score that combines profit and volume, across all positions over the tournament period. PNL includes both realized and unrealized.

Calculated as:

> Score = PNL × √Volume

| **Place** | **Cash Prize** | **Other Prizes** |
| --------- | -------------- | ---------------- |
| 1         | $25,000        | Perpl VIP box    |
| 2         | $15,000        | Perpl VIP box    |
| 3         | $10,000        | Perpl VIP box    |
| 4         | $7,500         | Perpl VIP box    |
| 5         | $5,000         | Perpl VIP box    |
| 6–10      | $2,500 each    |                  |
| 11–20     | $1,000 each    |                  |
| **Total** | **$85,000**    |                  |

### Volume Contest - $15,000

Ranks traders by total notional volume traded. Maker and taker volume count equally.

| **Place** | **Cash Prize** | **Other Prizes** |
| --------- | -------------- | ---------------- |
| 1         | $3,800         | Perpl VIP box    |
| 2         | $2,500         | Perpl VIP box    |
| 3         | $2,000         | Perpl VIP box    |
| 4         | $1,500         |                  |
| 5         | $1,200         |                  |
| 6         | $1,000         |                  |
| 7         | $900           |                  |
| 8         | $800           |                  |
| 9         | $700           |                  |
| 10        | $600           |                  |
| **Total** | **$15,000**    |                  |

### Monad Cards Invitational Badge

Every trader who participates will receive the Monad Cards Invitational Badge. A soulbound NFT.

To be eligible for the badge you need at least one trade.

The badge is permanent proof that you were here for the First Monad Cards Invitational Tournament.

### Settlement

Payouts will be sent directly to the winners' accounts within 7 days of the leaderboards being finalized.

### Rules

Perpl reserves the right to disqualify accounts at its discretion if an award recipient fails AML/KYC check performed by Perpl or if market manipulation practice is detected.

Wash trading, self-dealing and volume generated between coordinated wallets are not allowed and may result in disqualification from a Perpl leaderboard.

Institutional market makers are not eligible for participation in the tournament.

A minimum of $250k volume is required to be eligible for a prize.