Vertex Bi-Weekly Update (9/9/2024)

Vertex Protocol Bi-Weekly Update (September 9, 2024)

Recap of the Previous Week

Protocol incentives started on 24/6. This update reflects incentives from 8/26 - 9/9.

ARB Received Last Disbursement: 250,000 ARB

ARB Utilized as Incentives in the last 2 weeks:

  • Vertex Trading Incentives: 199309.41
  • Elixir Liquidity Incentives: 25000
  • SkateFi Liquidity Incentives: 2334.51
  • Total: 226643.92

Contracts incentivized over the last 2 weeks:

0x75A99528b5FC4D328473032c9f390db7C8BabdF1

0x1bdb4c119225abaca0bfe12610789902851221ab

0x849Dd9D48337D1884C3bE140ba27CBe63B81d7be

Contract address labels:

0x1bdb4c119225abaca0bfe12610789902851221ab - Elixir

0x75A99528b5FC4D328473032c9f390db7C8BabdF1 - Vertex

0x849Dd9D48337D1884C3bE140ba27CBe63B81d7be - SkateFi

ARB left over: 23356.07 from the 250,000

Plan for leftover ARB: Any left over 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: $65,711,156

Average daily volumes: $162,235,992

Average daily transactions: 113,509

Number of unique user addresses: 1339

Transaction fees: $220,171

Plan For the Next Two Weeks

Amount of ARB to be distributed: 250,000

Contracts that will be incentivized:

0x75A99528b5FC4D328473032c9f390db7C8BabdF1

0x1bdb4c119225abaca0bfe12610789902851221ab

0x849Dd9D48337D1884C3bE140ba27CBe63B81d7be

Contract address label for all addresses:

0x1bdb4c119225abaca0bfe12610789902851221ab - Elixir

0x75A99528b5FC4D328473032c9f390db7C8BabdF1 - Vertex

0x849Dd9D48337D1884C3bE140ba27CBe63B81d7be - 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)