Trade

OP Season

Extention of OP Season

OP Season is extended for 5 more weeks in which 100,000 OP tokens will be distributed weekly to traders on Synthetix perps. By participating in the OP Season, traders can expect to earn significant rewards that can be used to boost their trades on Polynomial.

During the trading season, traders will receive a boost of 10% on top of the OP rewards given by Synthetix. 🏁Starts: September 13th, 00:00 UTC ⌛️Ends: October 18th, 00:00 UTC

More info: https://blog.synthetix.io/blog-post-synthetix-rewards-programs-lido-steth-general-op-trading-incentives-restart/

What is OP Season?

OP Season is a 20-week-long event in which 300,000 OP tokens will be distributed weekly to traders on Synthetix perps. By participating in the OP Season, traders can expect to earn significant rewards that can be used to boost their trades on Polynomial.

How to become eligible for the rewards

Becoming eligible for OP rewards is a straightforward process. Users can earn these rewards simply by trading with multiple assets listed on the Polynomial platform. The amount of rewards earned is based on the fees paid by the user during their trades.

Fees paid for the keeper deposit won't get calculated for rewards

Reward structure (old)

The OP rewards program will award a total of 5,310,000 OP (approx 14.2m in current value) over a period of 20 weeks.

• Week 1 = 10,000 OP

• Weeks 2-3 = 100,000 OP

• Weeks 4-20 = 300,000 OP

Reward calculation

Traders' performance is evaluated based on the trading fees they have paid, excluding execution fees. 

rawScore = tradefeespaid

Estimate $OP rewards

Estimated rewards are ratio of your fees paid over total fees paid by everyone else since it’s multiplied by time, it gives an approx amount of OP.

NOTE: OP rewards don’t include keeper fee or funding. All orders in polynomial trade as delayed, i.e. when you place an order it is executed by a bot after 15 second; this execution is gas intensive and costs approx $5 in the current price, which is fixed cost regardless of trade size.

The trader score includes a staked SNX multiplier:

If traders have staked SNX tokens, their score will receive a boost.

  • 0-2499 SNX: 1.00x

  • 2500-5000 SNX: 1.05x

  • 5001-10,000 SNX: 1.075x

  • 10,001-20,000 SNX: 1.1x

  • >20,001 SNX: 1.15x

Read more on Synthetix blog here

Trading Season Boost (old):

During the trading season, traders with a +4 Level will receive a boost on top of the OP rewards given by Synthetix.

  • Level 4: +10% OP

  • Level 5: +15% OP

  • Level 6: +20% OP

  • Level 7: +30% OP

Read more on

Estimated rewards pages:

  • Traders can see the estimated rewards while opening and closing a position;

  • Live estimation can be found on the reward page base on the fees already paid.

Reward claim

Following each week, users are able to track their OP reward here.

Every Wednesday, Polynomial distributes the OP rewards to the smart wallet based on traders' trading volume and the total volume traded on Synthetix perpetual contracts throughout the week.

The procedure to claim them it's similar to withdraw your collateral; just need to interact with your Smart Wallet:

  1. Open the Smart Wallet;

  2. Click on Withdraw;

  3. Select the "OP" token;

  4. Fill with the amount and complete the withdraw clicking Withdraw Funds.

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