Socket OP RUSH Guide

What is Socket OP RUSH?

Socket OP RUSH is a campaign to distribute 400K OP to our Socket ecosystem from our grant!

• 300K OP worth of rewards will be available for users to claim based on the fees they pay while bridging(with a max cap of 20 OP per transaction)
• 100K OP worth of rewards will be available for partners based on the volumes they drive, and they can distribute it as they deem fit.

The program is estimated to span for 3-4 months and brings rewards for bridging transactions made to Optimism.

The program of this kicks off on 2nd August at 14:30 UTC with the following:

• dApps, including Synthetix, Kwenta, Layer3, Premia, Decent.xyz, Rubicon and more.
• Wallets include Rainbow, Zapper, Zerion, Slingshot, Krystal Wallet, XDEFI Wallet, Omnidotapp, OneKey, Plasma Finance, Zeal and more.

How does it work?

Every time you bridge to Optimism through one of Socket Ecosystem's partners, you receive rewards worth 90% of your onboarding fees.

The reward calculation is —

Reward amount = 90% of Bridge fees + Source gas fees in USD (based on daily OP price)

where Bridge fees = Source amount — Destination amount (in USD)

Example: For a $100 txn from Polygon to Optimism, if you paid $2.5 of onboarding fees (gas + bridge fee). You stand to earn rewards worth $2.25 in OP!

How to view my rewards?

All your transactions to Optimism will be recorded, and at the end of every month, you will be able to claim your $OP rewards directly through https://socketscan.io/rewards

• Claimable Rewards refer to all $OP rewards available to claim immediately.
• Pending Rewards are all $OP that will be claimable in the upcoming cycle. There will be claim cycles every month-end.

Note: It takes at least an hour for Socketscan to reflect your updated reward amount after any transaction.

A step-by-step guide to claiming rewards

1. Head to https://socketscan.io/rewards & connect your wallet
2. You will see all OP Rewards earned so far; parallelly, you will also see Pending rewards — that you can claim in the upcoming cycle.
3. Once you click on Claimable Rewards, the $OP will be transferred to your wallet.
4. To Claim Pending Rewards, you will need to wait for an upcoming claiming cycle which is usually every month-end; these Pending Rewards will then become ‘Claimable Rewards’

If you need help claiming your Rewards, open a ticket here.

FAQs

1. How does the claim process work?
   As users bridge to Optimism, they will accumulate Rewards in $OP; this $OP can be claimed at the end of the claim period, i.e. every month's end.
2. What happens if I forget to claim my $OP for a month?
   Once you are past claiming cycle of a month, you can claim the pending rewards whenever possible (until 6 months from when rewards go live)
3. How do the fee rewards work?
   The rewards are calculated on the total of gas spent & the underlying bridge fee.
   Example: For a $100 txn from Polygon to Optimism, if you paid $2.5 of onboarding fees (gas + bridge fee). You stand to earn rewards worth $2.25 in OP!
4. Is there a max cap of rewards that I can get?
   Yes, you will be eligible for up to 20 OP worth of rewards for every transaction.