Vertex Bi-Weekly Update (7/1/2024)

Vertex Protocol Bi-Weekly Update (July 1, 2024)

Recap of the Previous Week

Protocol incentives started on 24/6. This update reflects updates from the first week of incentives (24/6 - 1/7).

ARB Received Last Disbursement: 250,000 ARB [claiming both the first and second disbursement together on the 1st]

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

  • Vertex Trading Incentives: 100,000 ARB
  • Elixir Liquidity Incentives: 12,500 ARB
  • SkateFi Liquidity Incentives: 3098 ARB
  • Total: 115,598 ARB

Contracts incentivized over the last 2 weeks:

0x75A99528b5FC4D328473032c9f390db7C8BabdF1

0x1bdb4c119225abaca0bfe12610789902851221ab

[SkateFi address once provided]

Contract address labels:

0x1bdb4c119225abaca0bfe12610789902851221ab - Elixir

0x75A99528b5FC4D328473032c9f390db7C8BabdF1 - Vertex

[SkateFi address once provided] - SkateFi

ARB left over: 135,481 ARB from the 250,000 of the first disbursement

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

Summary of incentives: 1.5m total ARB across 12 weekly epochs to be distributed to:

  • 1,200,000 ARB - Vertex Trading incentives
  • 150,000 ARB - Elixir Liquidity Incentives
  • 150,000 ARB - SkateFi Vault Incentives

Additional Info / Disclosures to Multisig: N/a

STATS

Average daily TVL: $80,912,877

Average daily volumes: $243,719,161

Average daily transactions: 98,682

Number of unique user addresses: 795

Transaction fees: $260,998

Plan For the Next Two Weeks

Amount of ARB to be distributed: 250,000

Contracts that will be incentivized:

0x75A99528b5FC4D328473032c9f390db7C8BabdF1

0x1bdb4c119225abaca0bfe12610789902851221ab

[SkateFi address once provided]

Contract address label for all addresses:

0x1bdb4c119225abaca0bfe12610789902851221ab - Elixir

0x75A99528b5FC4D328473032c9f390db7C8BabdF1 - Vertex

[SkateFi address once provided] - SkateFi

Mechanism for distribution incentives:

Taker Rewards: Trading expenditure on taker fees is measured over the course of a weekly epoch. Once each epoch is completed we will build a merkle tree and register the merkle tree with the contract so that users can claim their ARB tokens using the proof.

LP Rewards: Users can also earn ARB rewards by acting as an LP for Elixir’s Fusion Pools through orderbook pairs on Vertex or becoming an LP on the Vertex Liquidity Vault on SkateFi.

Summary of incentives plan:

Up to 100,000 ARB to be distributed per week to price takers on Vertex with maximum determined as 75% of trading fees. (calculated using ARB value at end of weekly epoch)

Up to 12,500 ARB to be distributed to LP on Elixir with maximum determined as a 15% APR on TVL (calculated using ARB value at end of weekly epoch)

Up to 12,500 ARB to be distributed to LP on SkateFi with maximum determined as a 15% APR on TVL (calculated using ARB value at the end of weekly epoch)

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