Season 1: The Cambrian Phase
BSX Points is a rewards program launched to incentivize both new and existing traders on the BSX platform. This detailed docs serves as a reference for understanding the program's structure, benefits,
Detailed Overview of BSX Points
Purpose and Goals
The BSX Points program is initiated to:
Enhance Trader Engagement: Encourage active trading and increase user retention.
Reward Loyalty: Acknowledge and reward the continued patronage of our community members.
Program Structure
Key Components
Earning Points:
Trading Activity: Users earn points based on a combination of a publicly available maker formula and a proprietary trading formula. This proprietary formula scores trading activity by considering transaction volume, complexity of trades, and open interest.
Referral Program: Points are awarded for referring new traders to BSX. Referrers receive a percentage of the points earned by the referred traders.
Seasonal Timeline:
Start and End Dates: The program runs from April 23, 2024, to June 23, 2024.
Epochs: The season is divided into 8 epochs, each lasting 7 days.
Rewards Distribution:
Weekly Distribution: 1 million points are distributed each week among participants based on their activities.
Bonus Points: Additional points are awarded through surprise events and promotions during the season.
Points Calculation and Distribution
Transparency in Calculation: Points are calculated using two primary formulas: a publicly available maker formula, which you can access here, and a proprietary trading formula unique to BSX. The proprietary formula considers transaction volume, the complexity of trades, and the fees paid. This approach ensures a nuanced and equitable distribution of points, rewarding traders for both routine and complex activities.
Specific details of how these formulas interact are kept confidential to maintain the integrity of the points system, ensuring fair and balanced rewards for all participants..
Weekly Claims: Points are credited to participants' accounts each Tuesday following an epoch, allowing users to claim their rewards on Wednesday of the week.
Eligibility Criteria
General Eligibility: Open to all traders on the BSX platform, except residents from restricted jurisdictions like the US, UK, and OFAC-listed countries.
Activity Restrictions: No wash trading or artificially inflated trading activities are permitted. Violations may result in disqualification from the program.
Bonuses and Multipliers
Seasonal Bonuses: Details regarding the 1 million bonus points for season 1 will be announced periodically.
Surprise Multipliers: Participants should watch for unexpected multipliers that can significantly increase point earnings.
Participation Guide
How to Join
Account Setup: Ensure your BSX account is active and funded
Bridge USDC: Transfer USDC to BSX via the Base bridge to begin trading.
Engage in Trading: Participate in trading activities to accumulate points.
Utilize the Referral Program: Invite friends to join BSX and earn additional points.
For full tutorial on how to get started with BSX, visit here
Tracking and Claiming Points
Points Dashboard: Check your accumulated points in real-time through the dedicated points page on the BSX website.
Claim Points: Access and claim your points every Wednesday after each epoch.
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