Today, BSX announced the BSX Points plan, providing incentives in the form of points for traders and market makers.
What is BSX
BSX is a perpetual order book DEX based on the L2 network Base and the high-frequency chain, providing non-custodial, on-chain settlement derivative services. Its features combine the trustless nature of DEX with the high performance and efficiency of CEX, boasting an industry-leading 10-millisecond order matching speed and default cross-margin.
Its team comes from top institutions in the cryptocurrency trading industry (Coinbase, Jump, Kraken, FalconX) and traditional finance (Virtu Financial, Goldman Sachs). It is also the only CLOB perpetual contract DEX supported by Coinbase Ventures and is currently being guided by the inventor of cryptocurrency perpetual contracts, Arthur Hayes, who first introduced this concept on BitMex in 2016. BSX's investors include Coinbase, CMS, Maelstrom, DACM, Saison Cap, as well as angel investors from Delphi, Kraken, and Coinbase executives.
BSX is the top-ranked perpetual DEX on Base and the fastest-growing DEX on Base, with a daily trading volume 10 times that of its competitors within 3 weeks, proving its liquidity potential.
Why Choose BSX Points?
Since its launch on the Base mainnet on April 1, BSX has supported 150,000 transactions and a trading volume exceeding $275 million in just three weeks.
BSX Points is a key part of the official team's efforts to expand community participation and reward loyalty. It aims to quantify and recognize participants' contributions and loyalty to BSX, ultimately strengthening the loyalty of BSX traders and their connection to the BSX platform.
Details of BSX Points
Traders participating in BSX Points can accumulate points through two main activities:
Trading: Deposit and trade on BSX to earn points.
Referral: Refer friends and earn additional points, with the additional points equal to 10% of the points accumulated by the invited friends during the trading plan period. The invitee will also receive a 10% bonus on trading points.
Details of the first season are as follows:
Start date: April 23, 2024, 00:00 UTC
End date: June 18, 2024, 11:59 UTC
Duration: 8 periods, each lasting 7 days
Reward amount: 8 million points will be allocated this quarter, with 1 million points allocated weekly, as well as surprise bonuses.
Rewards: The first season will award 1 million points, and detailed information on how to earn the rewards will be announced soon. Users can follow official updates for more information.
Claiming method: Points will be credited to user accounts on the second Wednesday of each period.
Eligibility:
For the trading plan, the specific number of points for each transaction may vary based on various factors, including transaction type, total trading volume, fees paid, and open contracts. To prevent gamification and ensure fairness, the specific point calculation method will be announced after the reward plan ends.
For the referral plan, points are calculated based on the referrer's trading activity, with no limit to the points obtained from this method.
It should be noted that false or exaggerated transactions are not allowed.
Users are advised to pay attention to surprise bonuses and ensure participation every week.
Participation Process Guide
Connect to Base and deposit USDC at https://app.bsx.exchange/;
Select a trading pair (selecting a new trading pair is rewarded);
Place limit orders to provide liquidity in the order book;
View the points page to see your estimated accumulated points (updated hourly);
Claim the earned points before the second Wednesday of each period.
Disclaimer
BSX only provides services in specific jurisdictions and does not serve citizens of the United States, the United Kingdom, and other OFAC countries. It reserves the right to remove addresses participating in the abuse of the points system (through self-referral, witchcraft activities, or other abuses of the points system).
FAQ
- What can I redeem with BSX points?
Stay tuned for official information for updates on ways to effectively use points.
- What would cause me to lose eligibility to collect points during the campaign?
Engaging in illegal transactions or self-referral and other prohibited activities will indeed jeopardize point collection. Such behavior may result in temporary or permanent disqualification from participating in the points program. BSX is committed to ensuring a transparent and fair trading environment and actively preventing any behavior that may compromise the integrity of the points system.
- How are my trading points determined?
To maintain the integrity of the points system and prevent manipulation, BSX does not publicly disclose the specific formula used to calculate points. The design of the points system is to reward genuine trading activity on BSX. Users will earn points based on trading volume within a period and other activities (such as multipliers).
- Can you provide an example of how referral points work?
User A refers User B. User B trades and earns 100 points in the first period. Both User A and User B will receive an additional 10 points (10% of the 100 points earned by User B). If User B does not trade in the second period, neither will receive additional points. If User B trades again in the third period, both will receive additional points again (10% of the trading points earned by User B in the third period).
- How does the weekly points airdrop work?
The weekly trading points will be airdropped to BSX accounts on every Tuesday, and users can view and claim the points in the weekly dashboard.
- How long will the points program last?
The first season period is from April 23, 2024, to June 23, 2024, lasting two months. Please refer to official channels (Twitter and Discord) for updates on the schedule.
- Will my past trading activity be counted?
BSX Points is a forward-looking program. Snapshots of past trading activities were taken before the introduction of BSX points. Any additional token rewards for early trading activities will be considered after the program ends.
- Can points be transferred or traded between users?
No, the points earned in BSX accounts are associated with each user's unique address and cannot be transferred or traded between users.
- When will the airdrop take place?
BSX cannot share specific details about upcoming airdrops or token-related activities. Stay tuned to official channels (Twitter and Discord).
- What activities on BSX can earn points?
BSX is primarily a trading platform, which means the following activities will be rewarded:
- Providing liquidity to the order book
- Perpetual contract trading
- The program aims to resist witch attacks and reward genuine BSX traders and genuine activities.
- Is there a limit to the number of points allocated to traders weekly?
Yes, a maximum of 1 million points will be distributed weekly.
- How are points allocated?
The trader points program will allocate a maximum of 1 million points weekly. They will be allocated for trading and market-making behavior as follows:
Trading: Based on healthy, genuine trading weekly; Market-making: Makers' liquidity and trading volume will be rewarded.
- Do off-chain activities (such as Discord, Twitter, etc.) count towards points?
For this points program, off-chain activities such as Discord and Twitter interactions will not contribute to point accumulation. However, community participation in the BSX ecosystem remains crucial.
- Are there any special events or promotions offering additional points?
Potential bonus point opportunities will be provided in partner/promotional activities announced on Twitter/Discord. Please pay attention to related announcements and communications.
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