Trading Season 1
Last updated
Last updated
Polynomial is extremely excited to launch Trading Season on July 4, 2023 at 10:00 PM UTC and will run for a duration of 2 months.
Trading Season is a unique product that enhances trading and rewards traders with weekly prizes. Unlike traditional one-off competitions, it offers consistent rewards for elevated performance.
During the Trading Season (July 4 - September 4, 2023), traders can level up, earn exclusive NFTs, and compete in exclusive trading competitions on Polynomial Trade. Each level unlocks a new exclusive NFT and the chance to win $OP token prizes. Higher levels also come with a multiplier on $OP rewards, up to 30% depending on the level achieved.
The season will feature 7 levels that are determined by XP. This system enables us to provide users with a range of benefits and incentives based on their level.
Users are provided with various benefits and incentives based on their level, as shown in the accompanying picture.
Trading volume within the USDT market does not contribute to the calculation of the $OP boost and XP.
Users level up and earn experience points (XP) based on their trading volume and profit:
$1 standard volume ⇒ 1 XP
$1 advanced order volume ⇒ 2 XP
$1 Profit ⇒ 1 XP (on profit alone)
Other events or relevant factors can increase the users XP (further info will be shared soon):
Daily activity;
Side Competition;
Referral program.
Every week, there will be a competition for a specific level, starting from Level 4. This progression-based system enables participants to continuously earn XP, unlock higher levels, and participate in consecutive competitions
Polynomial has decided to allocate monthly rewards for each competition:
Level 4: 2,000 $OP
Level 5: 5,000 $OP
Level 6: 10,000 $OP
Level 7: 15,000 $OP
In certain competitions, rewards won't solely be based on realized PnL (Profit and Loss). The competition level may introduce some adjustments.
Competition duration will be 7 days or less, so remember to close your position in time.
Depending on the competition, a snapshot can be taken before, and eligible users within the corresponding level can participate.
For Competition Level 6 - 7:
RULES:
Traders who achieve level 6 or 7 during the competition will also be eligible participants.
Traders are required to achieve a minimum of $5M trading volume within the competition.
Rankings will be determined by the combined unrealized + realized PnL of traders throughout the competition and only traders with +ve PnL will be awarded.
PERIOD:
🏁Starts: August 25th, 7 PM UTC ⌛️Ends: September 4th, 10 PM UTC
Weekly prize allocations will be announced, ensuring transparency and fairness. Participants will receive clear details on prize distribution among the winners, allowing them to understand the reward structure and compete for their share.
The OP incentives for all levels are capped at 50,000 tokens per week. However, the competition prize is excluded from this cap. Additionally, 300,000 OP tokens from Synthetix will be added to the total rewards pool, giving users even more opportunities to earn OP tokens.
Which makes 350k $OP per week for the users who trade on Polynomial. LFG🚀
For instance: If a user is at level 7, they will receive a 30% boost incentive on the tokens awarded by Synthetix. Let's consider that Synthetix gives to the trader 10,000 $OP after computation. In this case, Polynomial will add an additional 3,000 $OP to the reward. As a result, the trader will receive a total of 13,000 $OP for that week.
