Post-mortem · contest closed June 1

Cash Trading Competition,
Week 1.

$696.7M

routed on-chain across the top 100 wallets in one week. Real leveraged-perps volume on NADO, settled and verifiable. This is the full Week 1 read, taken after close.

2,162 participants 7 days · May 25 – Jun 1 $73.99M top wallet ~164× equity turnover

Cash Trading Competition - Week 1 · contest_id 1 · ROI + Volume tracks across all markets
Final, pulled 2026-06-03 after contest close · source: archive.prod.nado.xyz/v1 (leaderboard_contests + leaderboard)

Contest progress

Contest complete. 7 days, settled.

The Week 1 competition opened May 25 at 14:00 UTC and closed June 1 at 14:00 UTC - the full 168-hour window. These are the final standings, read after close (the contest is marked inactive in the archive). Every figure below is an end-of-contest total.

Start

May 2514:00 UTC

End

Jun 114:00 UTC

Elapsed

168hours

Status

Closedsettled

May 25 - 14:00 UTC100% completeJun 1 - 14:00 UTC

Volume aggregate

$696.7M routed. 100 wallets visible.

The NADO archive leaderboard caps at top 100 per track. These figures cover the top 100 wallets on the volume track only; the long tail (qualified wallets ranked #101 and below) is not exposed by the public API. Real total volume is materially higher than the visible top-100 figure.

Cumulative volume, top 100

$696.7M

Routed on-chain across the top 100 wallets over the full week. $6.97M mean, $2.55M median, $73.99M top wallet. More than double the $318.5M read at the Day-3 snapshot.

Current account value, top 100

$4.26M

Aggregate equity left in the top-100 wallets at close, net of all contest PnL. Against $696.7M of routed volume, that equity turned over ~164x - real capital cycled through the venue, not parked.

Cutoff for top 100

$1.37M

Volume threshold to make the top-100 cut at close. The contest's stated volume-track qualification floor is $10K; everyone in the visible board is 137x above that.

Registered participants

2,162

Per the contest metadata at close, up from 1,766 mid-contest. The top 100 is 4.6% of the pool; the other 2,062 wallets add volume the top-100 figure does not capture.

Distribution

Where the volume sits.

Volume buckets across the top 100 at close. Concentration moved sharply upward over the week: every top-100 wallet finished above $1M, the $10M+ tier grew to 19 wallets (from 8 mid-contest), and one wallet cleared $50M.

Volume buckets, top 100

$1M - $10M

$10M - $50M

$50M+

Top 15 by volume

The biggest movers, cumulative.

Volume is total routed leveraged perpetuals notional on NADO since contest open on May 25. Account is current wallet equity. ROI is contest-period PnL.

#	Trader	Volume	Account	ROI
1	0x0e3f5b…1e1c	$73,988,131	$339,902	-11.96%
2	0x8cc78c…8b81	$46,284,141	$109,558	+185.24%
3	0x917ecc…0396	$38,141,662	$27,588	-34.26%
4	0xe75c9e…762a	$36,548,004	$10,010	-63.95%
5	0xa9bc70…d5be	$32,740,562	$20,975	+34.09%
6	0xfbf4b6…86a3	$26,338,431	$80,018	+49.52%
7	0x368522…9652	$25,192,181	$177,691	+0.53%
8	0x0d49cd…71c0	$24,128,231	$30,845	+0.58%
9	0x961fb6…b70e	$20,595,215	$11,277	-44.45%
10	0xc435c0…e488	$18,247,186	$71,731	-43.33%
11	@AirDr0pnet	$15,863,783	$10,234	-49.87%
12	0x9e9521…2b04	$14,210,221	$79,640	-3.86%
13	0x6342e8…ebb1	$12,147,439	$3,681	+12.65%
14	0xb84fbe…71dd	$11,381,055	$92	+48.91%
15	0x0caa28…224b	$11,017,157	$7,775	-42.40%

Top 15 by ROI

Best returns on the qualified board.

ROI track qualification: $1K minimum account value. These wallets are running smaller capital and pure PnL strategies; volume on this cohort is meaningfully smaller than the volume track.

#	Trader	ROI	Account	Volume
1	0x55f59c…c5e9	+675.08%	$7,777	$1,193,485
2	0xfa0520…a95b	+670.45%	$7,747	$570,487
3	0x8158a1…1f57	+653.42%	$7,686	$1,390,474
4	0x7ad128…a4bf	+564.22%	$6,662	$960,210
5	@RZ_Web3	+538.11%	$6,527	$129,284
6	0x3cf517…c911	+535.01%	$6,357	$677,781
7	@ruoxbt	+511.84%	$6,123	$1,212,853
8	0x92ccfe…77ed	+475.88%	$5,791	$360,726
9	@mitatekr	+463.97%	$5,644	$1,288,106
10	@99xrocket	+456.71%	$5,573	$316,383
11	0x5603b4…20f1	+436.36%	$5,387	$597,479
12	0x311c4e…84ab	+427.70%	$5,295	$1,485,937
13	0x02dde5…a9c7	+407.49%	$33,263	$1,960,376
14	0xba6d5b…bb64	+403.75%	$5,145	$194,621
15	0x30e33f…c696	+348.83%	$4,932	$337,439

Read of the data

Three things worth noting.

High-volume wallets bled, they didn't wash.

Of the top 15 by volume, 8 finished negative on ROI. The top wallet did $73.99M of volume and closed down 12% on a $340K account. Across the top 100, $696.7M of volume sat on just $4.26M of remaining equity - roughly 164x turnover. Capital genuinely cycled through the venue, not round-tripped for show.

The ROI race ran hot.

The top-15 ROI band finished at +349% to +675% - the winner returned 7.8x on the week, on a $7.8K account that ran $1.19M of volume. These are skill, not size: none of the ROI leaders sit in the volume top 10. The two tracks reward genuinely different play.

KOL signal is still thin.

Only 10 of the top 100 by volume have linked twitter handles, and 9 of the top 100 by ROI. Almost all of this volume came from anonymous wallets, not amplified-audience traders. The cohort is wide open to a broadcast / KOL layer on top - the upside the volume engine hasn't tapped yet.

Key terms

How to read these numbers.

A few definitions so every figure in this report means the same thing to both teams.

Volume: Total routed leveraged-perpetuals notional on NADO since contest open. A $10K account at 20x that opens and closes once does $400K of volume, not $10K. This is the number that matters to the venue.
Account value: The wallet's current equity at close, net of all contest PnL and fees. Small account next to large volume is normal: the capital was cycled, not parked.
Equity turnover: Volume ÷ remaining account value. ~164× across the top 100 means each dollar of equity was traded roughly 164 times over the week, the signal that volume is real flow, not a one-time deposit.
Volume track: Ranked purely on routed notional. Qualification floor $10K of volume. Rewards the biggest movers regardless of whether they won or lost.
ROI track: Ranked on contest-period return. Qualification floor $1K account value. Rewards skill on smaller capital; these wallets rarely overlap the volume leaders.
Top 100 / long tail: NADO's archive exposes only the top 100 wallets per track. The other ~2,000 participants ("long tail") add real volume the headline figure cannot capture, so totals are a floor, not a ceiling.

Methodology

How this was assembled.

All figures are direct reads from POST https://archive.prod.nado.xyz/v1 with the leaderboard_contests and leaderboard query types, pulled 2026-06-03 after contest close. Contest metadata reads contest_id 1, "Cash Trading Competition - Week 1," now inactive (closed June 1, 2,162 final participants). Two rank types pulled: volume (qualified at $10K) and ROI (qualified at $1K account value). Top 100 returned per track. Subaccount strings parsed to 20-byte EVM wallet addresses. Twitter handles read from the position's social_accounts array.

Confidence: top-100 figures and contest metadata are direct reads, high confidence. Long-tail estimates are model-based; the leaderboard API does not expose ranks below 100.

Battle Trade · Cracked Labs, Inc. · e@crackedlabs.xyz · report dated 2026-06-03

Cash Trading Competition,Week 1.