Ignite Program
Please note that the following content is temporary and may be modified later.
To incentivize users to engage in trading and provide liquidity, Oxiswap proudly introduces the Ignite Program. This program aims to promote the prosperity and development of the platform ecosystem through a multi-dimensional reward mechanism.
Overview of the Ignite Program
The Ignite Program is a new incentive scheme launched by Oxiswap based on Fuel Network. Users can earn a special non-transferable point system called Ignite Points (IP) by trading or providing liquidity on the platform. Ignite Points can be exchanged for the platform’s governance token, veOXI, during specific redemption windows, allowing users to enjoy more platform rights and rewards.
Key Features
Multi-Dimensional Incentives: Combines factors like trading volume, trading frequency, and liquidity contribution to comprehensively calculate users’ Ignite Points.
Dynamic Adjustments: Flexibly adjusts incentive strategies based on platform development and market conditions to ensure fairness and effectiveness.
Community Participation: Encourages users to engage in community governance and ecosystem development by providing additional reward mechanisms.
Detailed Incentive Mechanisms
1. Trading Incentives
Trading Volume Rewards: Users earn Ignite Points for every certain amount of trading they complete.
Calculation Formula:
Trading Coefficient: Ranges from 0.1 to 1, based on the activity and importance of the trading pair.
Trading Frequency Rewards: Encourages frequent traders; users who trade continuously over multiple days receive bonus points.
Example: Trade at least once daily for 5 consecutive days to receive a 5% point bonus.
2. Liquidity Incentives
Liquidity Provision Rewards: Calculates Ignite Points based on the user’s share in the liquidity pool and the duration of their stake.
Calculation Formula:
Time Coefficient: The longer you hold, the higher the coefficient, encouraging long-term staking.
Liquidity Coefficient: Set according to the pool’s demand and importance.
Liquidity Challenges: Periodically launches specific tasks; completing them grants extra points.
3. Community Incentives
Governance Participation: Earn Ignite Points by participating in platform proposal discussions and voting.
Content Contribution: Create and share high-quality tutorials, analysis articles, or videos with the community. Earn points upon approval.
Ignite Points Redemption Mechanism
Redemption Cycle: An exchange window opens once a month.
Redemption Ratio: Calculated based on the total veOXI reward pool for the period and the user’s share of Ignite Points.
Redemption Cap: There may be a cap on the amount that can be redeemed per cycle to ensure fair distribution.
Eligible Trading Pairs
To enhance the overall liquidity and user experience of the platform, the following assets are selected as eligible:
ETH
USDC
USDT
Only trades and liquidity provisions involving these assets will earn Ignite Points.
Special Events
Ignite Week
Details: For a specific week, the rate at which you earn Ignite Points increases by 20%.
Participation: Simply trade and provide liquidity as usual to enjoy the bonus.
How to Participate in the Ignite Program
Start Trading: Trade eligible tokens to accumulate Ignite Points.
Provide Liquidity: Add liquidity to specified trading pairs to earn more points.
Engage with the Community: Participate in governance voting, content contributions, and more to receive additional rewards.
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