Wagyu Bull Run Blackboard Cup

Rules

The trading period runs 2026/10/28 09:00 JST to 2026/11/11 08:59 JST (the Mindshare award counts posts from 2026/10/26 00:00 JST until the cup ends). Fills, deposits and withdrawals at or after the end time do not count. Entry is open until 2026/11/08 23:59 JST.
Results are measured from the later of the competition start and the moment your entry is accepted (the "baseline"). Late entrants are measured from their equity and volume when their entry is accepted (trades before entering do not count). Capital (baseline equity + deposits after the baseline) must be at least $200. ROI and Bull Fighter also need at least $20,000 of volume.
Only crypto perpetual (Perp) trades placed through Blackboard count. Stock perps and other TradFi markets, spot trades and other products (such as TCG) are excluded (crypto perps only this season). Some markets may be excluded from the count. Deposits and trading count only through Blackboard (PnL from positions opened elsewhere, such as the Aster app, is not counted). An increase from deposits or trading outside Blackboard is treated as a deposit and excluded from your results. While you hold assets other than USD-denominated stablecoins, your equity cannot be verified properly and you may be excluded from the ROI award. The automatic correction for outside deposits is provisional: the team reviews every case before results are final and fixes mistakes. Malicious cases are disqualified.
ROI = PnL ÷ (baseline equity + deposits after the baseline). Withdrawals do not change PnL or the denominator, so they never raise ROI.
The Bull Fighter Award goes to the trader with the largest negative PnL during the competition (unrealized PnL included; the same PnL as ROI). PnL must be negative, with capital of at least $200 and volume of at least $20,000. Winning ROI or Volume as well is allowed.
Ending equity is the value Blackboard captures at the end time. If it could not be captured (e.g. Aster privacy mode), the last value bb DAO Portal captured before the end is used; if there is none, the entry is excluded from the ROI and Bull Fighter awards. Positions still open at the end count at their mark value at the end time. The organizers may exclude PnL caused by abnormal prices such as system failures.
Ties are broken by larger volume during the competition, then by earlier entry. The prize tier is decided by total competition volume at finalization (disqualified entries excluded).
Prizes are Blackboard original Pokémon card packs, worth an amount that depends on total competition volume (3 tiers) for the ROI, volume and Bull Fighter awards (Mindshare prizes are fixed regardless of volume). Blackboard delivers the packs directly to the winners' Blackboard accounts. Winners need a TCG wallet to receive prizes. Open the TCG tab in the Blackboard app once before receiving. Disqualified entries are not eligible.
The following lead to disqualification: self-trading, using multiple accounts, impersonation, entering someone else's UID, and price manipulation of thin markets. If collusive trading (e.g. hedging) across multiple accounts or with other participants is found, everyone involved is disqualified. Multiple entries with the same X, wallet or Google account are not allowed. Accounts that Blackboard removes from the competition for abuse are not eligible.
Results are finalized after Blackboard finalizes its data (about 5 hours after the end) and the team's review. Prize candidates may be asked to submit their trade history (e.g. screenshots) for review; failing to respond within 3 days makes them ineligible. Rankings and prizes follow the final results on bb's leaderboard (this page), whose calculation differs from the Blackboard app and dashboard. Disqualifications are notified with a reason by Discord DM. Objections must be raised in the competition chat within 48 hours after provisional results are announced. The organizers' decision is final.
Mindshare award (4th award, no trading needed): after entering the cup, just post from your linked X account with both #WagyuBullRunCup and @BlackboardFi and it counts. Counting has been running since 2026/10/26 00:00 JST, and posts made before you entered are counted after you enter. Tagged posts are collected automatically (only posts from entered participants' linked X accounts; posts from private accounts do not count). Regular posts and quote posts made from 2026/10/26 00:00 JST until the cup ends (2026/11/11 08:59 JST) whose own text includes #WagyuBullRunCup and @BlackboardFi count. Reposts (plain RTs) and replies do not count, and deleted posts count as 0. If a post is not picked up automatically, please contact the organizers.
Mindshare = your score ÷ the total score of all participants. Your score is the sum of the impressions (views) of your top 10 counted posts. Winners are decided by Mindshare rank (not a lottery): ranks 1 to 5 receive Blackboard original Pokémon card packs worth $500 / $300 / $200 / $100 / $100 respectively, fixed regardless of the volume tier. You can also win other awards.
Impressions are collected periodically and the final values are fixed 24 hours after the cup ends (2026/11/12 08:59 JST). Rankings show Mindshare (%) only.
Unnatural numbers (bought or bot-inflated impressions, unrelated tag spam, reusing someone else's post, etc.) are excluded or lead to disqualification at the organizers' discretion. Posts that tag or mention the cup while unrelated to it are not counted (at the organizers' discretion). Posts that need review are not counted until the organizers have checked them. If someone is disqualified, ranks move up. The final decision rests with bb.

FAQ

Can I deposit from anywhere?

Only deposits made through Blackboard count. Any increase in assets that comes from outside Blackboard is treated as a deposit and excluded from your results. Abuse leads to disqualification.

Does withdrawing change my ROI?

Withdrawals affect neither PnL nor the denominator, so they cannot boost your ROI.

How do I receive my prize?

Prizes are Blackboard original Pokémon card packs; the amounts shown are the value of the packs. Blackboard delivers the packs directly from Blackboard to the winners' Blackboard accounts. Winners need a TCG wallet to receive prizes. Open the TCG tab in the Blackboard app once before receiving. Disqualified entries are not eligible for prizes.

What is the Wagyu King?

The 1st place winners of the ROI Award and the Volume Award receive the Wagyu King role. Role holders receive a ¥10,000 wagyu gift every year. A winner who places 1st in both awards still receives one role.

Who can participate?

You need to be a Passenger (X, Google and wallet linked, and a member of the bb Discord) with at least $200 in capital. The ROI and Bull Fighter divisions also require at least $20,000 in volume.

I already have a Blackboard account.

Just enter your UID. The sign-up rebate (10% of the Blackboard revenue from your trades, paid in USDC) is only for people who are about to create a new account.

When are results final?

Rankings are provisional until Blackboard finalizes its data, about 5 hours after the competition ends. After that, the team's review produces the final results.

What happens if I break the rules?

Self-trading, multiple accounts, impersonation, entering someone else's UID and price manipulation of thin markets lead to disqualification. If collusive trading (e.g. hedging) across multiple accounts or with other participants is found, everyone involved is disqualified. Raise any objection about a disqualification or result in the competition chat within 48 hours after provisional results are announced. The organizers' decision is final.

What about ties?

Larger volume during the competition wins, then the earlier entry.

How do I take part in the Mindshare award?

Enter the cup, then just post from your linked X account with both #WagyuBullRunCup and @BlackboardFi. Counting has been running since 10/26, and posts made before you entered are counted after you enter. Tagged posts are collected automatically (only posts from entered participants' linked X accounts; posts from private accounts do not count). No trading is needed. Regular posts and quote posts both work and the content is up to you (e.g. that you entered, your result card, your thoughts on the cup). Posts that tag or mention the cup while unrelated to it are not counted (at the organizers' discretion).

Which posts count?

Regular posts and quote posts made from your linked X account with #WagyuBullRunCup and @BlackboardFi between 10/26 and the end of the cup (posts from private accounts do not count). Reposts (plain RTs) and replies do not count, and deleted posts count as 0. Your top 10 posts by impressions make up your score. Unnatural numbers, and tags or mentions on posts unrelated to the cup, are excluded or lead to disqualification at the organizers' discretion.

When are the Mindshare results final?

Impressions are collected periodically and the final values are fixed 24 hours after the cup ends (2026/11/12 08:59 JST). Rankings are provisional until then, and become final after the organizers' review. Rankings show Mindshare (%) only.