Vela Exchange Bi-Weekly Update (July 8th, 2024)

Vela Exchange Bi-Weekly Update (July 1, 2024)

Recap of the Previous Week

Protocol incentives have not started at this time. The first scheduled distribution of 42,500 ARB tokens is scheduled for July 15th, 2024.

ARB Received Last Disbursement: 166,668 ARB [claiming both the first and second disbursement together on the 9th]

ARB Utilized as Incentives in the last week [will be distributed along with the next periods rewards]:

Contract address labels:

GP3 Rewarder: 0xD6cc89E02fD0D552BeD774563F394bCf44c14646

ARB left over: 166,668 ARB

Plan for leftover ARB: Any extra ARB will be returned to the DAO treasury at the end of the program.

Summary of incentives: 500k total ARB across 8 weeks to be distributed to:

  • 480k ARB - Grand Prix Season 3 Trading Rewards
  • 20k ARB - Lucky Ticket Raffle, derived from earning streaks (loyalty)

Additional Info / Disclosures to Multisig: N/a

STATS

Average daily TVL: $5.91M

Average daily volumes: $5.16M

Average daily trades: 413

Number of unique user addresses: 58

Avg Daily Transaction fees (7d MA): $3,741

Plan For the Next Two Weeks

Amount of ARB to be distributed: 85k

Contracts that will be incentivized:

0xD6cc89E02fD0D552BeD774563F394bCf44c14646

Contract address label for all addresses:

GP3 Rewarder: 0xD6cc89E02fD0D552BeD774563F394bCf44c14646

Mechanism for distribution incentives:

Users can earn credits through valuable in app actions, such as producing trade volume, earning PnL, and completing Missions in order to achieve higher leaderboard status. Each rank is provided with a more and more valuable reward.

Additionally, traders can earn Lucky Tickets, which each provide an opportunity to receive rewards in a variety of assets, including up to 2,500 ARB per weekly raffle.

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