Mummy launches its FIRST Loyalty program to reward trading activity
Dear Mummies,
In just 6 months, Mummy has become the ultimate derivative protocol on Fantom Opera and Optimism! We greatly thank our amazing investors and traders who believed in us and fueled our success. But hold on tight because we have more exciting news! Get ready for the launch of our FIRST-ever trader loyalty program at Mummy. It’s all about earning big rewards by doing what you love — trading! The more you trade, the more esMMY and bonus rewards you’ll score.
▶▶ It’s as simple as this: Trade more, earn more esMMY, and get higher bonus rewards.
The bear market is an excellent time to build a great protocol. It provides an opportunity to test the effectiveness of our protocol and ensure it meets the needs of our users. Building a solid foundation during the bear market sets us up for perpetual growth when the bull run begins.
Why did we launch the Loyalty program?
- Drive higher trading volume and increase protocol revenue by creating a positive feedback loop for our community. The more traders that join our loyalty program, the better it is for the protocol and all users.
- The Mummy DAO plays a crucial role in fostering an engaged and active community by sponsoring rewards for user interactions with the protocol. Trading activity is the backbone of Mummy Finance, and by incentivizing users to participate in this process, the DAO helps drive the platform’s growth and success.
- Enhance the trading experience for Mummy traders by launching our loyalty program, which rewards top performers with esMMY and FTM bonus rewards.
- Every trade is your ticket to additional and endless rewards.
- We’re applying for the gas monetization program of Fantom Foundation. All the grants received will be used to reward our loyal traders.
We will launch this loyalty program on Fantom Opera, and plans for Optimism are coming soon.
Loyalty program details
Launch date: June 2, 2023
The reward for the first month: 5,000 esMMY
Reward allocation: We will allocate a specific amount of esMMY tokens from the DAO and Devs fund to the top 10 traders with the highest monthly trading volume. This volume encompasses margin trading, swapping, MLP buying/selling, and liquidation activities. The distribution of rewards is determined based on each trader’s volume proportion compared to the total trading volume of the top 10 traders. In the case where the reward comes from DAO funds, our community will participate in a voting process to decide on the reward amount.
For example, let’s consider the month of July 2023. Suppose the total volume of the top 10 traders is $100 million, and the total rewards for the month are 1000 esMMY tokens and 2000 FTM tokens. In that case, the distribution of rewards will be as follows:
Rewards distribution: The esMMY and FTM rewards will be directly distributed to the wallets of the top traders during the first working week of the upcoming month.
How does it work?
- The total volume will be calculated from 0:00 UTC on the first day of each month to 0:00 UTC on the first day of the following month.
- Your volume is counted once the trade is executed (swap, buy/sell BLP) or opened and closed (margin trading).
- The esMMY rewards for the top traders do not require MMY/MLP Vault reserve for vesting. You can vest them linearly on the Vault. However, if you have staked those esMMY bonuses and later decide to vest them, you must reserve MMY/esMMY for the vesting process.
To View the rankings
Check out Mummy’s leaderboard here: https://www.mummy.finance/#/analytic/loyalty
Join the Mummy Loyalty Program and reap the rewards of your successful trades. With the opportunity to earn esMMY and FTM bonuses, trading has never been more lucrative. Start earning #RealYield with Mummy today!
About Mummy Finance
Mummy Finance is a swap and perpetual DEX that offers a variety of trading options and high liquidity for a wide range of blue chip crypto assets. It aims to become the solution for all traders who want to keep control of their capital and enjoy the best trading experience on Fantom Opera and Optimism
Follow our links and social media to get all the updates!
Website: https://www.mummy.finance/#/
Twitter: https://twitter.com/mummyftm
Telegram: https://t.me/mummyftm
Discord: https://discord.gg/xqSJaw8sUB
