Convallax Trading Competitions: How They Work

Convallax runs on-chain options on Polygon — calls and puts on a fully on-chain order book, plus prediction markets. It is the only options venue Voltrade integrates, and it is also the only one whose data does not arrive over an HTTP API. That combination makes it the most unusual integration on the platform, and it produces a volume rule that no perp venue needs.

What the venue is good at

The venues directory lists Convallax as a DEX on Polygon with BTC and ETH as its headline underlyings, trading calls and puts on an on-chain order book. Options are a genuinely different instrument from perpetuals: your risk is defined at entry, the premium is the whole of what you commit, and there is no liquidation to manage. For a competition, that means the natural unit of "how much did you trade" is not notional — it is premium.

How Voltrade tracks your Convallax volume

The data source is a read-only Postgres database, not an API. Convallax has no usable public API or subgraph, so the leaderboard sync connects directly to a partner-provided read-only role on their indexed database and queries the trades table. The connection is deliberately small and defensive: a pool capped at 4 connections, a 30-second statement timeout, and a 30-second idle-in-transaction timeout, so a reporting query can never sit on the partner's database. It is a read path and nothing else — Voltrade holds no write access to Convallax's data and no keys to any Convallax account.

Volume is premium_usdc, in human USD units. One row per settled trade, with the premium already denominated so that 1000 means $1,000, and a UTC commit timestamp. There is no notional multiplier and no leverage adjustment, because there is no leverage.

Both sides of a trade are credited. A single trade credits its full premium to the maker and to the taker. Each side genuinely traded that volume, and crediting only one would make a competition on an order-book venue a contest about which side of the book you happened to sit on. The query does this explicitly — maker-side and taker-side rows are unioned, then filtered down to the wallets that registered, so a trade between two distinct tracked wallets produces two credits.

Self-trades are excluded. Any trade where the maker and the taker are the same address is dropped before scoring. That is a light wash guard rather than a full anti-sybil system, and the integration is honest about it: it stops the trivial exploit — trading with yourself to double-credit your own premium — while more elaborate defences (minimum trade counts, distinct-counterparty requirements) remain future work rather than shipped behaviour.

One bulk query, bucketed in memory. Rather than a request per participant per day, the sync runs a single query covering the whole competition window across every participant wallet, then buckets the rows into start-anchored 24-hour days in application code. Days lock three hours after they end, and recently-ended competitions keep settling for a further 30 hours. The job runs every 20 minutes.

Wallet addresses are lowercased on both sides of the match, following Convallax's own convention, so case never causes a silent miss.

Eligibility: register the wallet you trade with

There is nothing to link — no UID, no API key, no OAuth. Your registration wallet is matched directly against the maker and taker columns in Convallax's trade data. Register with the wallet you actually trade on Convallax with and you are eligible; register with a different one and you will score zero with no error anywhere, because from the data's point of view that wallet simply never traded.

This is the same wallet-only model used on Lighter and on GMX, and it is the lowest-friction eligibility path on the platform. It contrasts sharply with the account-linked venues, where a UID or a scoped read key has to exist before any tracking is possible.

What kinds of competitions run here

Volume competitions on premium paid. Because the premium is real USDC rather than leveraged notional, Convallax competitions score at the spot rate of 1 VXP per $1 — ten times the rate applied to perpetual notional. Perps are discounted because leverage makes notional cheap to manufacture; a dollar of option premium is a dollar actually committed, so it is rated at par. The competition's volume multiplier, daily points cap and daily counted-volume cap all layer on top in the usual way, described in how VXP and daily volume caps work.

PnL competitions are not yet available here. Convallax indexes the settlement data that would be needed — option series and position events — but the scoring for it has not been built, so today Convallax is a volume venue. If profit is what you want scored, that lives on the PnL challenges side of the platform, on venues where the settlement path is implemented.

How to enter

Connect and verify a wallet on Voltrade, register for the Convallax competition, and trade options on Polygon with that same wallet. Volume counts from your registration onward, not from the competition's start, and the daily cap windows roll on the competition's start hour rather than at midnight UTC.

Honest notes and limitations

• Premium, not notional. A deep out-of-the-money option controls far more notional than it costs. Only what you paid counts, which is the point.
• Both sides credited means market makers do well. If you quote both sides of the book on Convallax, every filled quote credits you. That is intentional, and worth knowing if you are sizing up the field before entering.
• The wash guard is minimal. Self-trading is excluded; trading in a circle with a second wallet you control is not currently detected. Competitions that need stronger guarantees use qualifying minimums and daily caps to bound the damage.
• Volume is read from a partner database. If that read path is unavailable, days stay open and retry rather than being written as zeros — the same failure convention every venue sync on the platform follows.
• Competition creation on integrated venues is admin-side. Self-serve creators on Voltrade are restricted to on-chain token competitions.

For the wider picture — how pools are split, what a qualifying minimum really costs you, and how to read a competition page before entering — see how DEX trading competitions work and the exchanges directory.