Dear ApolloX Users:
ApolloX will officially start the 23rd epoch of the Trading Rewards Program on 5th August 2022. The 23rd epoch will last for 10 days. The voting results from the 2nd DAO proposal on the trading fee reward cap ratio for individual users will take effect in this Epoch.
Starting Time: 00:00 (UTC) on 5th August 2022
Rule Adjustment Details:
The trading fee reward ratio for individual users will be capped at 102%. Tokens that exceed the trading fee rewards cap will be taken out from the smart contract address and will not circulate in the market, thus reducing APX circulating supply. The adjusted calculation method is as follows:
r= min(r1+r2, R*Cap_ratio)
r1=(R*w/sum(w1-wk), FeeCapRatio)
r2 = R*0.2*Q / sum(Qi)
*In general, Fee_Cap_ratio means in the scenario that the APX reward calculated according to the weightage is greater than the actual fee contribution value (selected by voting), it will be distributed to the user according to the threshold of the actual fee contribution value (selected by voting). An example is as follows:
Assuming User A has been rewarded 2000 APX from the 23rd Epoch Trading Reward Program but the trading fees contribution of User A is only 80 USDT. Assuming the current APX price is 0.05 USDT, the actual amount of APX obtained by User A would be 102%*80/0.05 = 1632 APX
|
r |
User’s APX Reward for each Epoch |
|
r1 |
APX Reward based on trading fee contributions (Learn More from Reward based on trading fee contributions) |
|
r2 |
Reward based on Market Maker trading volume contributions |
|
R |
Total rewards in the pool for each Epoch |
|
v |
Maker trading volume from a specific user for each Epoch |
|
b |
Multiples based on boost acceleration after locking APX in DAO (b=1 by default) |
|
Q |
Individual Market Maker trading volume contribution score Q = v*b |
|
sum(Qi) |
Sum of all users’ Market Maker trading volume contribution scores |
|
Cap_ratio |
The reward cap ratio for each individual user 15% for this epoch |
|
Fee_Cap_Ratio |
The cap ratio for APX Reward based on trading fee contributions, initial setting at 102%. |
For more information on the 2nd DAO Proposal, please refer to【Proposal-02】Vote for trading fee reward cap ratio for individual users in the Trading Rewards Program
The remaining rules are consistent with the 22nd Epoch:
- Trading Rewards Program Details:
- Total Trading Rewards Pool of 9,000,000 APX, per every 10 days
- Total APX Staking Rewards Pool of 100,000 APX, per every 10 days
- Users will receive the accumulated APX reward after every epoch. Trading rewards will be calculated according to the user’s transaction fees, market maker trading volume contribution and DAO staking amount in each epoch to determine the ratio and APX reward amount. Trading fees generated by the user’s self-dealing transactions will not be counted in the trading fee contributions. Participants in the Trading Rewards Program will receive each epoch’s APX rewards before 03:00 (UTC) on the day of distribution (one day after the epoch ends). You can check your trading fees spent and estimated rewards on the trade rewards page.
- To encourage users to make use of grid trading strategies, the Reward based on trading fee contributions will include Grid Trading fees contribution with a contribution factor of 2.5 so that users can enjoy greater benefits. For more details, please see Reward based on trading fee contributions.
The total rewards pool is divided into the Trading Rewards Pool and APX Staking Rewards Pool. Under the Trading Rewards Pool, Trading Fee Contributions account for 80% while Market Maker Trading Volume Contributions account for 20%. Meanwhile, if any trading users’ reward amounts exceed the reward cap, the excess will be injected into the APX Staking Rewards Pool.
APX Staking Rewards Details：
Formula：
Rs=R*S/sum(Si)
|
Rs |
User’s APX Staking Reward for each Epoch |
|
R |
Total rewards to be split between all users in the APX Staking Rewards Pool for each Epoch |
|
S |
Individual APX staked amount |
|
sum(Si) |
Total APX staked amount |
Boosting Multiplier
Boost acceleration tiers will be allocated to the corresponding Power Value obtained by users who stake APX in DAO to get veNFT. Users who stake APX in the old staking contract will no longer enjoy boosting multipliers for APX trading rewards. (More details on Boost Acceleration)
|
Power Value |
Boost Acceleration |
|
50,000 < Power =< 100,000 |
1.5 |
|
100,000 < Power =< 300,000 |
2 |
|
Power > 300,000 |
2.5 |
Reward Collection
APX earned through the Trading Rewards Program will have a 15-days vesting period.
- After the vesting period, you can withdraw the APX reward to your wallet which is connected to ApolloX DEX；
- If you want to withdraw APX before the vesting period is over, 15% of the withdrawal value will be deducted and transferred to the trading rewards pool.
Terms & Conditions
- Self-dealing refers to a transaction where the buy and sell order are filled by the same user's account.
- ApolloX reserves the right to adjust the Trading Rewards Program rules based on user feedback and market conditions after each epoch. Thus, the total APX rewards released is non-linear and may differ for future epochs.
- 0x6bE863e01E17A226c945e3629D0D9Cb6E52Ce90E is the contract address where we store the APX to be distributed in each trading reward epoch.
- ApolloX reserves the right of final interpretation of 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.