UPDATE: DeversiFi has closed its trading rewards programme, effective Monday May 16, 2022 at 00.01 GMT+1.
We have closed the 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 rewards active DeversiFi community members, attracts new users to the protocol and creates a sustainable means of distributing DVF for the long term.
In return for swapping and trading on DeversiFi, you receive a share of your overall trading fees in DVF tokens. You can also boost your rewards by staking DVF for xDVF tokens.
These DVF reward tokens represent a piece of our future: they give you the right to vote on key decisions affecting the DeversiFi protocol and even suggest your own changes.
How does the trading rewards program work?
The rewards program is split into week-long periods.
Each week we calculate the cumulative fees from swappers and traders on the platform, as well as the fees that you have paid on your personal swaps and trades and the amount of DVF that you have staked (xDVF).
This in turn enables us to calculate your contribution to overall platform activity 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!
Each week a total of 7,500 DVF are distributed under the trading rewards scheme, and this amount is controlled by governance.
What does the trading rewards dashboard show?
The dashboard shows you the essential metrics of your trading activity, and indicates 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 you can earn over the course of the week, based on overall trading activity. This number will change day by day as others trade and stake across the platform, so be 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.
What is the exact rewards calculation?
The formula that governs the amount of DVF rewards a DeversiFi user receives is shown below:
When can I claim my rewards?
Each week-long period runs from 00:00 UTC Monday morning to 23:59 UTC Sunday evening.
Rewards for the most recently completed period can be claimed from 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?
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 and xDVF staking 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’ll be entitled to a greater share of the pay-off!
How does DVF staking (holding xDVF) change my rewards?
You can boost your DVF rewards by staking DVF on DeversiFi. The greater your share of xDVF on DeversiFi compared to the overall amount held on the exchange by all users, the larger your rewards boost.
For example, a DeversiFi user who accounts for 10% of the weekly platform trading fees (from their swapping or trading of tokens on DeversiFi) but has 0 DVF staked (holds 0 xDVF on DeversiFi) would receive only 4.8% of the weekly DVF rewards. However, if the same user held 15% of the staked DVF on DeversiFI (15% of the total xDVF held on DeversiFi) then they would receive a huge 38% of the weekly DVF rewards.
Are any pairs not eligible for rewards?
Five pairs do not currently qualify for rewards:
Will non-economic trading be eligible for rewards?
No! We reserve the right to ‘blacklist’ any addresses that we feel are trading unprofitably at high scales to earn DVF. Between 15 and 20 addresses are blocked from receiving DVF rewards each week on average.
Non-economic trading is defined as wash trading, churning or otherwise gaming the system at the expense of the wider DVF community.
Accounts that are considered to be non-economically trading are usually blacklisted on the final day of the weekly period (the Sunday afternoon). Please reach out to customer support using the chat widget in the bottom right-hand corner of the trading screen if you think that your account has been blacklisted unfairly and we will be happy to check your account!
What are the fees across the various markets?
The following fees are applied across our various markets:
Single Swap – 0.3%
Order Books – As low as 0% for maker fees, to a maximum of 0.25% taker
USDT/USDC – 0.1%
dvf/xDVF staking – Free