UPDATE: DeversiFi has closed its trading rewards programme, effective Monday May 16, 2022 at 00.01 GMT+1.
We have closed the trading rewards programme with a view to creating a better rewards structure for our entire community, and we will be rolling out new initiatives in the coming weeks.
Further information on the liquidity part of our rewards programme will be provided in due course.
The Trading Rewards programme is designed to reward active traders, attract new users to the protocol and distribute DVF to our thousands of community members.
A few large accounts are still trying to farm the programme at the expense of real platform users and DVF holders. You could see this in action yesterday when trading volume jumped to $20m from an average of $6m the previous few days (in what is the quietest trading week of the year across exchanges).
Therefore we have taken the decision to reduce the reward emission by 80% for the current period. Rewards will then increase each week in step with our goal of increasing the number of active users on the platform, for which we have a number of plans.
The new rewards pools will be as follows:
|Period Start (00:01)
|Period End (23:59)
|DVF Reward Pool
Our rewards programme is split into two principal streams: trading and liquidity provision.
In return for your trading activity, you receive a share of your overall trading fees in DVF tokens. These tokens represent a piece of our future: they give you the right to vote on key decisions affecting our protocol and even suggest your own changes.
At the same time, these incentives support our wider programme of Automated Market Makers (AMMs).
How does the trading rewards program work?
The rewards program is split into week-long periods. Each week, we calculate the overall amount of cumulative trading fees from swappers & traders on the platform, as well as the trading and swapping fees that you have paid personally.
This in turn, enables us to calculate your contribution to the overall platform fees, and award you a corresponding share of the fixed pot, payable in DVF. Your rewards are available to claim once the period ends – completely gas-free of course!
Initially trading rewards are set at 25,000 DVF per week, which at today’s valuation would be $402k a week claimable, or $1.5m a month!
What Does the Trading Rewards Dashboard Show?
The dashboard will show you the essential metrics regarding your trading activity, and indicate the size of your rewards in real time.
Period. The dates of the week in question.
Potential Reward. The total volume of DVF tokens that could be earned over the course of the week, based on overall trading activity. This number will change day by day as others trade across the platform, so make sure to keep trading if you want to maximise those rewards!
Your Trading Volume. Your cumulative trading volume for the current period.
Claim. The amount of DVF you can claim each week, based on your current activity. This total will keep increasing week on week if you don’t claim straight away.
When can I claim my rewards?
Each week long period runs from 00:00 UTC Monday morning to 23:59 UTC Sunday evening.
Rewards are available for claiming for the most recently ended period at midnight on the Monday – ie 00:01 UTC Monday Morning
If I don’t claim My DVF Earnings for a period, are those rewards lost?
Nope, don’t worry… the rewards will continue to stack!! So if you earn 100 DVF rewards in one period and 200 DVF the next, if you haven’t claimed your 100 DVF at the end of the first period your total rewards will roll over to 300 DVF!
Why are my ‘Potential Rewards’ changing?
Your potential DVF rewards will go up and down depending on the overall activity on the platform. As your share of the overall activity rises and falls, your rewards will follow.
So if we receive a flood of new activity from other traders and your share of the overall activity falls, your potential rewards will decline. However, if you ramp up your activity at a rate faster than other users, you will be entitled to a greater share of the pay-off!
Are any pairs not eligible for rewards?
There has been some unusual activity on these pairs which goes against the ethos of the trading programme. Our goal is to ensure that traders are rewarded for real trading, and only genuinely committed users receive our token incentives.
Will non-economic trading be eligible for rewards?
We reserve the right to ‘blacklist’ any addresses that we feel are trading unprofitably at high scales to earn DVF. We have blacklisted several large accounts over the past weeks who were farming the reward program at the expense of other DVF holders and traders.
What are the fees across the various markets?
The following fees are applied across our various markets