Kana Labs &Econia Labs Announces the 2nd Iteration of Kana Kampaigns Reward Program

Dear Kana Knights,

We thank you for your stellar support and participation in the first iteration of our contributions-based rewards program “Kana Kampagins”. We now announce the start of the 2nd iteration of our “Kana Kampaigns” reward program with much pride and great joy. In this iteration of the campaign, we provide you with more rewards and more venues to earn these rewards.

There are two major reward pools — a 3500 APT token pool and a large USDC reward pool.

The primary rules of this campaign are mentioned below -

• To be eligible for this campaign users have to actively engage in trading activity in our order book platform “Kana Trade”.
• All users from across the globe except restricted jurisdictions are eligible to participate in this initiative.
• The rewards will be distributed based on multiple factors such as volume contribution, transaction count, assets traded, consistent daily trading etc.
• There is also a reward multiplier element incorporated into the fiat currency reward.

All participants who engage in trading activity in the Kana Trade platform during the duration of Kana Kampaigns are eligible for the reward pool. The details on how the reward is calculated and awarded at the end of the campaign are mentioned below -

• Volume-Based Rewards (3,000 APT) — A reward pool of 3,000 APT tokens will be allocated to users based on their monthly trading volume on our order book platform. This component rewards users pro-rata according to their percentage share of the total monthly trading volume on the platform, thus encouraging increased trading activity among our users.

Rewards formula : (User totalVolume / overallTradeVolume) * 3000

• Activity Reward (500 APT) — A reward pool of 500 APT tokens will be for users who actively engage in trading activity on our platform daily. In simpler words, the trader must place at least 1 trade every day for a month. This is done to encourage and foster consistent trading activity among active users on our platform even if they dont trade in large volumes.
• The USDC reward pool has been created for daily trading rewards for days where the overall trading volume in our platform scales as high as US$ 1 Million or more per day. If the day’s overall trading volume is below a million dollars, there would be no USDC rewards.
• The USDC reward pool is also divided into multiple levels based on the overall volume traded per day and they are listed below -

1. 1M USDC Volume: $200 Reward Pool
2. 2M USDC Volume: $400 Reward Pool
3. 3M USDC Volume: $600 Reward Pool
4. 4M USDC Volume: $800 Reward Pool
5. 5M USDC Volume: $1,000 Reward Pool

This reward is calculated as a milestone achievement and it will be distributed within 24 to 48 hours after a day’s trading ends. if 500 people trade that day and the overall volume reaches $1 Million, then the $200 USDC reward will be split between 500 traders.

The reward multiplier is only applicable for the USDC reward pool & to be eligible for the multiplier a trader should meet 3 conditions within the same day — minimum volume, minimum trades, and trading in all three pairs available in the order book platform.

1. For 1.25x Multiplier — a trader should execute a minimum of 10 trades with a minimum volume of at least 20,000 USD & trade in all 3 pairs — (USDC/USDT, USDC/APT, USDC/WETH).
2. For 1.5x Multiplier — a trader should execute a minimum of 25 trades with a minimum volume of at least 50,000 USD & trade in all 3 pairs — (USDC/USDT, USDC/APT, USDC/WETH).
3. For 2x Multiplier — a trader should execute a minimum of 50 trades with a minimum volume of at least 100,000 USD & trade in all 3 pairs — (USDC/USDT, USDC/APT, USDC/WETH).

In the case of reward multiplier eligibility, if the trader is eligible for USDC worth $10 as a reward and they are eligible for a 1.25x multiplier, then the trader will receive USDC worth $12.5 as a reward for that day. The contest starts at 02:30 PM UTC on 15th May 2024 and ends at 02:30 PM UTC on 15th June 2024.

Please note that the APT token reward will be awarded on the 20th of next month. Meanwhile, the USDC rewards will be awarded within 24–48 hours once the day’s trading ends and milestone requirements have been met.

You can track your rewards and milestones at https://tradebook.kanalabs.io/leaderboard

Through this meticulously designed rewards structure, we aim to create a fair, inclusive and engaging system catering to diverse segments of our user base, from high-volume traders to daily active participants. Now, users can earn APT tokens and cash rewards effortlessly just by trading in the “Kana Trade” platform.

Stay tuned for further updates on this exciting incentivisation campaign. The more you engage with our platform, the greater your rewards!

Thanks,

Team Kana Labs