Spend 5k USD in SCRT to incentivize SCRT-USD perps trading on Demex

Description

This proposal aims to bootstrap the first on-chain SCRT-PERP on Demex (dem.exchange), an all-in-one perp DEX in the Cosmos ecosystem. The proposal, put forth by the Switcheo Labs (switcheo.com) team, suggests co-hosting a trading competition with the Secret Network community to encourage traders to trade SCRT perpetual contracts, and provide liquidity to the SCRT perp pool. This is an on-chain community spend proposal.

Forum post: https://forum.scrt.network/t/proposal-host-scrt-perp-trading-competition-on-demex/7131

Goal: The main goal is to promote the awareness of SCRT-PERP to traders and liquidity providers, which will help to grow the SCRT community, we will propose a competition to reward traders and liquidity providers participating in SCRT-PERP.

Distribution: This proposal, if accepted, will spend $5,000 worth of SCRT tokens from the community pool, to the dev team address at secret1fxxzd9w7qx27mat80gyj06n5jw8053v4chy283 on Secret Network in order to fund and incentivize the listing of $SCRT PERPS and a Secret Trading Competition on Demex.

This sum will be used only for the purpose of payment of prizes to the winners of the competition. Winners will receive $USD (grouped stablecoin) on Demex within 60 days of the competition concluding. Any extra unused prize funds will be transferred back to the community pool fund.

Total SCRT = 40,000USD / 0.355 (current price) * 1.05 = 14788 SCRT Funding address = secret1fxxzd9w7qx27mat80gyj06n5jw8053v4chy283