Arbitrum STIP Rewards for Rysk Extended until March 29th, 2024
15/2/24 Update
- Total weekly grants pool for Liquidity Providers has been increased to 7,142.75 ARB, up from the previous amount of 6,493.40 ARB.
- Total weekly grants pool for Traders has been adjusted to 5,844.07 ARB, from 6,493.40 ARB.
Since the introduction of the STIP incentives, Rysk has experienced significant growth, solidifying Arbitrum’s position as the primary chain for trading DeFi options. In light of this momentum and following the Timeline Extension for STIP and Backfund Grantees proposal, we’re thrilled to announce an extension of the STIP grants for Rysk until March 29th, 2024.
Effective from January 12th, 8 AM UTC, the incentive structure will be as follows:
For Liquidity Providers:
Total weekly grants pool: 7142.75 ARB
Anyone with a deposit in the DHV when the weekly epoch is executed (every Friday):
- airdrop every Friday after weekly epoch ends
- (user shares / total shares) X total weekly grants pool
For Traders:
Total weekly grants pool: 5844.07 ARB
Contracts traded are eligible to earn a share of the weekly grants pool at option expiry (every Friday 8AM UTC). Each contract traded will receive proportional rewards based on the following distribution:
- 80%: Selling contracts — trades that sell options (closing a bought contract does not qualify).
- 15%: Buying contracts on longer dated expiries (≥ 30 DTE) — trades that buy options with 30days expiry or more (closing a sold contract does not qualify).
- 5%: Buying contract on shorted dated expiries (≤ 30 DTE) — trades that buy options with expiry lower than 30 days (closing a sold contract does not qualify).
Each position (buy and sell) needs to be held for at least 12hrs to be eligible.
Additional Notes
The new distribution mechanism will start for trades starting January 12th 8AM UTC.
Distribution mechanism might change again in future weeks based on feedback and results. Any 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.
