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Synthetix and Lido Finance are thrilled to announce the launch of a buying and selling rewards program particularly designed for Lido Staked Ether (stETH). This initiative will allocate an extra 1,500 OP per week, supplied by Lido Finance, to merchants producing charges for the stETH perps market.
Synthetix and Lido Finance are thrilled to announce the launch of a buying and selling rewards program particularly designed for Lido Staked Ether (stETH). This initiative will allocate 1,500 OP per week, supplied by Lido Finance, to merchants producing charges for the stETH perps market. This program will start on the following buying and selling rewards epoch, Tuesday, July 18th, at 10pm UTC.
This rewards program is along with the Synthetix Perps Optimism Buying and selling Incentives, which is at present distributing 300,000 OP per week to merchants.
Reward Construction
The buying and selling incentive program presents 1,500 OP weekly in Synthetix Perps buying and selling rewards for merchants producing charges for the stETH Lido market. Buying and selling reward epochs shut on Tuesdays at 10pm UTC, and rewards are distributed throughout the subsequent day.
Dealer Rating Calculation
Customers will likely be assigned a dealer rating primarily based on the overall buying and selling charges they generate for the stETH Lido market. Observe: this calculation doesn’t embody execution charges.
`rawScore’ = tradingFeesGenerated
The dealer rating will then be calculated:
`traderScore = rawScore`
Please Observe: Solely OffChainDelayedOrders processed on taking part integrators are eligible for OP rewards. Please guarantee your frontend integrator’s participation earlier than buying and selling.
Every dealer will earn a pro-rata share of the overall weekly rewards primarily based on their dealer rating for the stETH market.
Incentive Program Mechanics
1. On the finish of every buying and selling week, an inventory of dealer addresses and the charges they generated will likely be compiled.
2. Synthetix will then carry out the required calculations, checking dealer addresses for the quantity of charges generated.
3. A listing of addresses and OP quantities to ship will likely be generated & despatched to integrators to distribute Lido OP rewards.
Taking part Integrators: Please verify the participation of your frontend integrator earlier than buying and selling.
Conclusion
The Lido stETH Synthetix Perps Buying and selling Incentives program goals to drive buying and selling exercise on Lido stETH Synthetix Perps and improve liquidity. Lido reserves the suitable to regulate these phrases at any time.
Have any questions? Head over to the Synthetix Discord to study extra.
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