ARB Rewards: Season 2 (and recap of Season 1)
We are excited to share details of Season 2 of the STIP rewards on Perennial. We’ve been blown away by the response of the community & are keen to get the next Season started. But before we dive in, lets look back at Season 1.
Season 1 Recap
Last Monday (November 5th), Perennial began distributing ARB incentives to users on the platform. Users were able to earn a share of 62,500 ARB ($72.5k) for trading and providing liquidity on Perennial.
Usage on Perennial V2 skyrocketed in Season 1.
- Volume: hit new 24hr ATH for Perennial V2 ($18mn) & did just over $52mn in weekly volume
- Open Interest: OI steadily climbed throughout the week and currently sits at an all-time high of $12.6mn.
- Liquidity: Added about $2mn in liquidity to Perennial Vaults, now up to $7mn in total liquidity for protocol.
We’re incredibly excited about this progress, but this is only the start. Season 2 & its rewards start accruing today!
Claiming Rewards:
Rewards will be ready for claiming at latest on Wednesday at Noon UTC. We will notify everyone on Twitter, so make sure to subscribe.
Special Perks:
Additionally, Perennial Labs will be inviting a small group of Perennial’s power users from Season 1 & 2 to join in conversations around STIP reward distributions, new features/products, and other growth initiatives aimed at expanding the Perennial community, so stay tuned to see if you qualify :)
Season 2: The path less travelled
Season 2 starts at Noon UTC on November 13 and goes until Noon UTC on November 20.
In Season 2, we’re keeping the distribution methods the same but tweaking the ARB amounts to each category a bit. Traders will earn ARB as fee rebates and in proportion to time-weighted OI, and makers earn ARB in proportion to time-weighted liquidity provided to vaults or pro makers.
Our goals for the Season 2 are very similar to Season 1: onboard traders to the Arbitrum ecosystem, grow Perennial vaults, and bootstrap longer-tail market activity.
You can keep track of your progress here: https://app.perennial.finance/rewards.
Traders — 37,500 ARB (60%)
We are continuing the Trader rewards this season. Similar to last week, we are splitting the trader rewards. They are weighted as follows:
- 50% of Rewards to Time-Weighted OI (18750 ARB)
- 50% of rewards to Fee Rebates (18750 ARB)
One core change from last week:
In Season 1, all taker activity was treated the same whereas in Season 2, trader rewards will now be split between sets of markets:
- 50% of the above trader rewards going to ETH/BTC
- 50% of the above trader rewards going to traders in “Altcoin” markets including SOL, MATIC, TIA, RLB, and new markets launched.
Makers — 25,000 ARB (50%)
We are continuing Maker reward for Season 2. So users who LP in to makets will be able to earn ARB yield. This can be done via Perennial Vaults or using the Pro Maker interface. We are splitting the rewards as follows:
- 75% of the maker rewards will go to Vaults (18,750 ARB)
- 25% of rewards will go to Pro Makers (6,250 ARB)
Similar to last we are splitting the rewards between different types of markets:
- 50% of the above rewards will go to the ETH/BTC markets
- 50% of the above rewards will go to the other markets inc. SOL, MATIC, TIA, RLB.
Here is the full breakdown of the Season 2 distribution:
Make sure to follow along with Perennial announcements:
