MUX Protocol STIP.B Bi-Weekly Updates

DAO Programs & Initiatives Biweekly Updates (STIP)
5

MUX Bi-Weekly Update - Sept. 3rd

  • ARB Received Last Disbursement
    • 316,667 ARB
  • ARB Utilized as Incentives in the Last Two Weeks (Aug. 21st - Sept 3rd)
    • 415,847 ARB
  • Contracts incentivized over the last 2 weeks
    • Trading Incentives Distributor: 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.
    • MUXLP Incentives Distributor: 0x49734d859D55f34a5948B4C91c4B27D1ba98FdA7
    • MUXLP Tranches: 0x9B637AeE65106B1d55CEA5d560Fd0C67Ce1F18C5
      • Due to the tranches setup, the incentives for LPs who supply liquidity through the tranches will need to be distributed to the tranches directly
  • Contract address label Form completed for all addresses
    • Yes
  • ARB left over (until Sep 3rd)
    • 741,620 $ARB
  • Plan for leftover ARB
    • Trading incentives: Traders‘ trading fees covered by the scope will be rebated as $ARB tokens weekly.
    • LP incentives: Incentivize LPs through the native MUXLP pool and MUXLP tranches based on the original proposal

STATS

Plan For the Next Two Weeks

  • Amount of ARB to be distributed
    • Trading Incentives
      • There isn’t a fixed number since the amount of ARB to be distributed as trading incentives 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.
    • LP Incentives
      • Between August 2nd and September 4th, MUX distributes 210K $ARB weekly to MUXLP stakeholders, following the MUX STIP.B incentives proposal.
      • After September 4th, MUX will adjust the weekly $ARB incentives for LPs to 100K $ARB weekly
  • Contracts that will be incentivized
    • Trading Incentives Distributor: 0xe21d366d5042F713C0C872591e610fB6a74C775b
    • MUXLP Incentives Distributor: 0x49734d859D55f34a5948B4C91c4B27D1ba98FdA7
    • MUXLP Tranches: 0x9B637AeE65106B1d55CEA5d560Fd0C67Ce1F18C5
      • Due to the tranches setup, the incentives for LPs who supply liquidity through the tranches will need to be distributed to the tranches directly
  • Contract address label
    • Yes
  • Mechanism for distribution incentives
    • 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.
    • The original trading cost will be charged upfront when opening/closing a position. Traders’ weekly costs will be tracked and rebated in the form of $ARB tokens once a week.
    • $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.
    • The rebated $ARB tokens need to be manually claimed. Unclaimed $ARB tokens will accumulate until they are claimed. Unclaimed $ARB tokens won’t expire before the Rebate Program ends.
    • 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 - Up to 75% (Rebated by GMX) + 15% (Rebated by MUX), but the total rebate rate won’t exceed 75%
        • Since the GMX V2 actual native rebate rate is usually between 25% - 50% due to the trading volume & weekly cap, MUX added an additional 15% rebates to GMX V2 positions routed through the MUX aggregator. MUX contributors will continue to monitor the actual rebate rates and ensure the total rate won’t exceed 75%
      • GMX V1 - 25% (Rebated by MUX)
      • gTrade - 25% (Rebated by MUX)
    • 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.
    • The final rebate rate will be based on the users’ actual fees spent. If the integrated protocols offer additional rebates/rewards separately, MUX will ensure the final total rebates won’t exceed the fees paid.
    • 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.
    • MUX contributors reserve the right to identify any Sybil-attack-related addresses and exclude them from the incentive program.
    • The anti-wash-trading & anti-sybil-attack rules will remain unrevealed. Otherwise, the rules can be abused with planned strategies.
    • 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 “MUX Native Referral Code Affiliation” section for more information.
  • 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.
      • Between August 2nd and September 4th, MUX distributes 210K $ARB weekly to MUXLP stakeholders, following the MUX STIP.B incentives proposal.
      • After September 4th, MUX will adjust the weekly $ARB incentives for LPs to 100K $ARB weekly