Lido stETH Synthetix Perps Trading Incentives - September Extension Update
Synthetix and Lido Finance are thrilled to announce the launch of a trading rewards program specifically designed for Lido Staked Ether (stETH). This initiative will allocate an additional 1,500 OP per week, provided by Lido Finance, to traders generating fees for the stETH perps market.
Synthetix and Lido Finance are thrilled to announce the launch of a trading rewards program specifically designed for Lido Staked Ether (stETH). This initiative will allocate 1,500 OP per week, provided by Lido Finance, to traders generating fees for the stETH perps market. This program will begin on the next trading rewards epoch, Tuesday, July 18th, at 10pm UTC.
This rewards program is in addition to the Synthetix Perps Optimism Trading Incentives, which is currently distributing 300,000 OP per week to traders.
Reward Structure
The trading incentive program offers 1,500 OP weekly in Synthetix Perps trading rewards for traders generating fees for the stETH Lido market. Trading reward epochs close on Tuesdays at 10pm UTC, and rewards are distributed within the next day.
Trader Score Calculation
Users will be assigned a trader score based on the total trading fees they generate for the stETH Lido market. Note: this calculation does not include execution fees.
`rawScore’ = tradingFeesGenerated
The trader score will then be calculated:
`traderScore = rawScore`
Please Note: Only OffChainDelayedOrders processed on participating integrators are eligible for OP rewards. Please ensure your frontend integrator's participation before trading.
Reward Distribution
Each trader will earn a pro-rata share of the total weekly rewards based on their trader score for the stETH market.
Incentive Program Mechanics
1. At the end of each trading week, a list of trader addresses and the fees they generated will be compiled.
2. Synthetix will then perform the necessary calculations, checking trader addresses for the amount of fees generated.
3. A list of addresses and OP amounts to send will be generated & sent to integrators to distribute Lido OP rewards.
Participating Integrators: Please confirm the participation of your frontend integrator before trading.
Conclusion
The Lido stETH Synthetix Perps Trading Incentives program aims to drive trading activity on Lido stETH Synthetix Perps and enhance liquidity. Lido reserves the right to adjust these terms at any time.
Have any questions? Head over to the Synthetix Discord to learn more.