Dear ApolloX Users,
On 27th April 2023, ApolloX will launch the V2 Trading Rewards Program. Users who stake APX in DAO can enjoy boosting multipliers. In addition, there is no vesting period for rewards earned in this program. Users may claim their APX rewards at any time. Details are as follows:
Starting time: 27th April 2023, 00:00 (UTC)
Activity period: 27th April 2023, 00:00 - 11th May 2023, 23:59 (UTC)
Reward Distribution Time: Each cycle is 00:00 (UTC) to 23:59 (UTC) daily. Rewards are issued on the next day at around 03:00 (UTC). Users have to claim their rewards within 30 days after the rewards are issued. If they do not, the platform will revoke the rewards.
Reward amount：100,000 APX per day. According to the results of the 13th DAO Proposal Voting, rewards will be funded from unburned V1 tokens.
Activity rules: Users who trade on V2 can earn from a reward prize pool. Those who stake APX in DAO to obtain veNFT will enjoy boosting multipliers corresponding to the Power value calculated from the veNFT.
| Power Value | Boosting Multiplier |
| 50,000 < Power =<100,000 | 1.5 |
| 100,000 < Power =<300,000 | 2 |
| Power > 300,000 | 2.5 |
Trading Rewards calculation formula:
At the end of each trading reward cycle, the user’s effective trading volume fees and DAO staking amount in that cycle will be calculated to determine the weightage and amount of APX rewards.
The formula is as follows:
r = R*W / sum(Wi)
Parameters:
| r | User’s APX reward for this cycle |
| R | Total APX rewards allocated for this cycle |
| W |
Individual trading volume contribution score W=max(f*w,0), where; f refers to the effective trading volume fee amount contributed by the user in this cycle, which will be converted into USD. w is the Boosting Multiplier obtained by the user in this cycle from staking APX in DAO. (Refer to the above table for more information) |
| sum(Wi) | The total score of all users. Wi represents any individual user, and sum(Wi) represents the sum of all users |
Terms and Conditions
- After the end of each cycle, ApolloX will adjust the program rules according to users’ feedback and market conditions. The rewards will be released non-linearly.
- Once the activity starts, the platform will reduce the percentage of V2 trading fee income injected into the ALP pool from 50% to 20%. The remaining 30% will be used to repurchase APX. More details on the purpose of the repurchase will be announced separately.
- Due to the difference in trading fees for each trading pair on V2, the rewards users receive may vary even though their effective trading volumes are the same.
- The rewards to be distributed for each cycle will be stored in the following contract address: 0x6bE863e01E17A226c945e3629D0D9Cb6E52Ce90E
- ApolloX reserves the right of final interpretation for this activity.
Risk Warning: Crypto futures trading carries a substantial risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from ApolloX. ApolloX will not be liable for any loss that might arise from your use of ApolloX.