Protocol
dYdX Unlimited Launch Incentives Program
Description
Chaos Labs has led both the original 6 month launch incentives program and the 3 month launch incentives renewal program. The two programs have been successful in helping to bootstrap the dYdX chain and ensure trader retention, with a weekly trader retention rate ranging from 50-80% during this time.
dYdX governance recently renewed the program (and Chaos’ role as program administrator) with up to $20m in available incentives as part of proposal 142, which can be found here: https://www.mintscan.io/dydx/proposals/142. The goal of the renewed program is to drive trader activity to dYdX following the launch of dYdX Unlimited and highlight the innovative features that will be available with the Unlimited upgrade.
As part of the grant, Chaos Labs will execute on the following deliverables:
- Preliminary Research and Publication of the Relaunch Incentive Structure: Chaos Labs will present the community with a revised incentive program, specifically tailored to increasing awareness of dYdX Unlimited.
- Updates to the Portal, including incorporating new data feeds, adding API endpoints for the dYdX front ends to read the current value of a user’s incentives and the current marginal value of incentives, redesigning the leaderboard, and adding an information page describing the Incentives
- Seasonal incentive distribution recommendation proposals based on analysis of the season trading data per the framework established in the research phase.
- Wash trading analysis and protection
- Incentives Distribution Refinements: Chaos Labs will continue to monitor program efficiency and make the appropriate adjustments where necessary.
- Efficacy Report: After each quarter of the program, Chaos will deliver a comprehensive report gauging program effectiveness, highlighting achievements, challenges, and insights for future endeavors.
