MUX Bi-Weekly Update - Jul. 9th
Disclaimer: MUX received the first round of incentives on Jun. 26th and kicked off the STIP.B campaign on that day
- ARB Received Last Disbursement
- 316,667 ARB
- ARB Utilized as Incentives in the Last Two Weeks
- 40,100
- Contracts incentivized over the last 2 weeks
- 0xe21d366d5042F713C0C872591e610fB6a74C775b
- MUX backend will track weekly trading fees and the number of $ARB to be distributed as rebates. Then once a week, the $ARB token will be distributed to this contract, and the traders can claim their weekly $ARB rebates from it
- Contract address label Form completed for all addresses
- Yes
- ARB left over
- 593,237 $ARB
- Plan for leftover ARB
- Continue the trading rebates campaign
- Currently, the increased protocol income derived from trading activities is sufficient enough to retain LPs, so additional $ARB LP incentives are not added yet.
- MUX contributors will add LP incentives based on the proposal when needed.
- Summary of incentives
- Trading incentives: Tradersâ trading fees covered by the scope will be rebated as $ARB tokens weekly.
- MUX kicks off the trading incentives first and will prioritize trading incentives during the STIP.B campaign
STATS
- Average daily Arbitrum TVL (Jun 26th - Jul 9th)
- $15M
- Average daily transactions (Jun 26th - Jul 9th)
- 937
- Average daily volumes (Jun 26th - Jul 9th)
- $12,593,546
- Number of unique user addresses (Total)
- 656
- Transaction fees (Total)
- $342,971
- Link to Dashboard showing metrics
Plan For the Next Two Weeks
- Amount of ARB to be distributed
- There isnât a fixed number since the amount of ARB to be distributed is determined by unpredictable real-time trading fees.
- MUX will adjust the trading fee rebate rate based on spending speed, and the rate can potentially be lowered so the campaign can last 2-3 months.
- Contracts that will be incentivized
- 0xe21d366d5042F713C0C872591e610fB6a74C775b
- Contract address label
- Yes
- Mechanism for distribution incentives
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After the Rebate Program goes live when traders open & close positions through the MUX Aggregator, fees covered in the rebates scope from MUX, GMX V1, GMX V2, and Gains positions on Arbitrum will be rebated weekly as ARB tokens.
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The original trading cost will be charged upfront when opening/closing a position. Tradersâ weekly costs will be tracked and rebated in the form of $ARB tokens once a week.
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$ARB tokens will be distributed as fee rebates to traders weekly on Thursdays UTC based on the fees they spend during the week. Upon distribution, the number of ARB tokens rebated is calculated based on your weekly trading fees (covered by the scope) and the real-time ARB token price.
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The rebated $ARB tokens need to be manually claimed. Unclaimed $ARB tokens will accumulate until they are claimed. Unclaimed $ARB tokens wonât expire before the Rebate Program ends.
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The Rebate Program will kick off rebating up to 75% of the fees covered by the scope for all integrated protocols.
- MUX - 75% (Rebated by MUX)
- GMX V2 - 75% (Rebated by GMX)
- GMX V1 - 25% (Rebated by MUX)
- gTrade - 25% (Rebated by MUX)
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If the rebate rates need to be adjusted according to grant spending speed and market conditions, MUX will notify the community before making any changes.
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The final rebate rate will be based on the usersâ actual fees spent. If the integrated protocols offer additional rebates/rewards separately, MUX will ensure the final total rebates wonât exceed the fees paid.
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No wash trading or Sybil-attack-related activities are allowed. MUX contributors will closely monitor related activities from this campaign; Addresses involving wash trading or Sybil-attack-related activities will be published and excluded from receiving the rebates.
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MUX contributors reserve the right to identify any Sybil-attack-related addresses and exclude them from the incentive program.
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The anti-wash-trading & anti-sybil-attack rules will remain unrevealed. Otherwise, the rules can be abused with planned strategies.
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When calculating $ARB rebates, the trading fee discount and MUX native rebate from using a MUX referral code will be considered as well. Please check the âMUX Native Referral Code Affiliationâ section for more information.
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- Summary of incentives plan
- Summary of changes to the original plan: [Insert changes]
- The original proposal proposed tentative grant allocation for both trading and LP incentives. It was also indicated that the grant allocation ratio for trading and liquidity incentives is tentative and can be adjusted based on performance.
- Currently, the increased protocol income derived from trading activities is sufficient enough to retain LPs, so additional $ARB LP incentives are not added yet.
- MUX contributors will add LP incentives based on the proposal when needed.