Arbitrum STIP Rewards for Rysk
Earn rewards for LPing and Trading on Rysk
12/1/24 Update: the distribution has been extended and weekly pool grants size changed since this article was published, see this article here for the details!
6/12/23 Update: the distribution has changed slightly since this article was published, see this article here for the details!
As part of the Arbitrum STIP, the Rysk proposal was voted to receive $500k ARB to distribute to Rysk Liquidity Providers and Options traders. The $500K rewards will be distributed weekly from November 3rd, 2023 (1698998400) until February 9th, 2024 (1707465600).
We’re extremely excited to be part of the Arbitrum ecosystem and to offer to the community the opportunity to earn rewards based on their activities on Rysk Beyond over the next 14 weeks!
Liquidity Providers and traders can track their rewards on the Reward page with the leaderboard on https://app.rysk.finance/rewards
How it works
START: Friday NOV 3rd 2023
END: Friday FEB 9th 2024
WEEKS: 14
Liquidity Providers
Total weekly grants pool: ~17.8k ARB
Eligibility: anyone with a deposit in the DHV when the weekly epoch is executed (every Friday)
Distribution:
- airdrop every Friday after weekly epoch ends
- (user shares / total shares) X total weekly grants pool
To be eligible deposit now on: https://app.rysk.finance/vault
Traders
Total weekly grants pool: ~17.8k ARB
Eligibility: every contract traded is eligible to earn a share of the weekly grants pool at option expiry (every Friday 8AM UTC)
Distribution:
Each contract traded will receive proportional rewards based on the following distribution:
80%: Selling contracts — trades that sell options to the DHV (closing a bought contract does not qualify). Sellers earn rewards when:
- hold position at least 24hrs
20%: Buying contracts — trades that buy options from the DHV (closing a sold contract does not qualify). Buyers earn rewards when:
- trade longer dated expiries (+30 DTE)
- hold position at least 24hrs
To be eligible trade now now on: https://app.rysk.finance
6/12/23 Update: the distribution has changed slightly since this article was published, see this article here for the details!
Notes
Distribution mechanism might change in future weeks based on feedback and result. New mechanism will be communicated accordingly. Trades that are identified as wash trading can be flagged and will not be eligible for rewards. Wash trading includes but is not limited to:
- Immediately opening and closing a position;
- Buy and sell (or vice versa) of the same instrument in a very short timeframe, even from different addresses.
Can I Earn Rewards Already?!
You bet you can.
Visit app.rysk.finance to start trading or depositing into DHV and earn you rewards!
Happy trading, and may the volatility be ever in your favor!
