Competitions (Premium)

What are Competitions?

Competitions are special X raid challenges where community members can participate and earn rewards. @RaidSharksBot offers various competition modes, allowing participants to receive rewards in the supported token of their choice.

Group owners and admins have the flexibility to customize these competitions by selecting different modes and criteria to suit their specific needs.

What problem does it solve?

The Competitions Feature by RaidSharks addresses the challenge of efficiently managing and rewarding large groups of participants in your ecosystem. By fully integrating into your platform, it automates the entire reward distribution process, including wallet setup, reward calculation, and airdrop execution.

Imagine you want to reward your top raiders weekly with airdrops of your native token. While manually handling rewards for a small group of 10 users might be feasible, doing so for hundreds or thousands of users becomes impractical due to the significant time and effort required to manage wallets and execute transactions manually. The Competitions Feature streamlines this process, saving you time and ensuring accuracy at scale.

How does that increase engagement?

Over the past year, we've observed a common trend in competitions: only a small number of participants receive rewards, while the majority are left empty-handed. This happens because manual reward distribution is cumbersome and impractical, leading most projects to focus on rewarding just the top performers (e.g., the top 10) and maybe adding a few lucky draws to keep things somewhat fair.

The Competitions Feature changes this dynamic by enabling projects to distribute rewards to all participants based on their individual contributions. This ensures a fairer system where everyone, even those who can only participate minimally, receives a proportional share of the rewards.

Conclusion

Isn't it better to have 200 satisfied participants than just 10 happy and 190 disappointed ones? That's exactly what the Competitions Feature helps you achieve! By making reward distribution fair and inclusive, it significantly boosts engagement and satisfaction across your community.