

Synthetix Launches Incentive Program to Boost Trading Activity on Optimism

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The program will allocate a portion of the protocol's phase 0 distribution as trading rewards, with 200,000 OP in weekly Synthetix Perps trading rewards for 17 weeks after a three-week ramping period.
Get Paid to Trade Perps
Synthetix announced the Synthetix Perps Optimism Trading Incentives program, scheduled for April 19 at 0:00 UTC. According to the protocol, the program encourages trading activities for Synthetix Perps on Optimism by allocating a portion of its phase 0 distribution to trading rewards.
1/6 📢 Synthetix Optimism Trading Incentives will be live tomorrow! 🎉
— Synthetix ⚔️ (@synthetix_io) April 17, 2023
Those using Synthetix Perps integrators can now earn their pro-rata share of 200,000 $OP per week for 17 weeks.
Learn more in this thread or this blog post 👇🧵https://t.co/qFF3Iqe6te
The trading rewards would be 50,000 $OP for the first week and 100,000 $OP for the second and third weeks. Nonetheless, from the fourth week forward until the 20th week, rewards would increase to 200,000 $OP.
An individual trader's score will be determined by their total trading fees, excluding execution fees. Based on that score, a multiplier for staked $SNX (Synthetix) will be applied as follows:

These tiers are calculated using traders' Synthetix Debt Shares (SDS) at the Synthetix dapp's weekly snapshot on Wednesday.
The trader scores will determine how much each trader receives from the weekly rewards. Synthetix Treasury Council will distribute OP weekly to designated contracts so that integrators can settle claims using the Synthetix UI.
Four Integrators to Participate
There are four integrators participating in the program: Kwenta, Polynomial, Decentrex, and dHEDGE. OP incentives will be available to any new Perps integration partners launched during this program. Worth noting the wallets that aren't part of an integrator's share will be distributed by Kwenta.
Synthetix launched V3 on February 23 on Ethereum Mainnet and Optimism. Synthetix V3 will be released gradually in the coming months as users transition from Synthetix V2x to Synthetix V3. Further, according to Dune Analytics, Synthetix achieved a new milestone, reaching $490 million in daily trading volume on March 17.
Synthetic has a total volume locked of $494.26 million, of which $294.225 million is in Ethereum and the rest in Optimism. Synthetic ($SNX) is trading at $2.8813, up 4.16% in 24 hours.
What is Synthetix:
Synthetix is a decentralized liquidity layer built on Ethereum and Optimism that acts as a backend for DeFi protocols. Stakers provide liquidity to collateralize a portfolio of synthetic assets in exchange for rewards and market yields. This liquidity is used to underwrite synthetic assets and perpetual futures trading at oracle prices, removing the need for traditional order books and counterparties. As a result, liquidity is commutable and fungible across markets, and traditional slippage is eliminated.
Learn more about Synthetix:
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


Lucidao Unveils Bold Rebrand: Pioneering the Tokenization of Real-World Assets

The rebranding underscores Lucidao's commitment to bridging real-world assets and blockchain technology.
Decentralized Finance (DeFi) platform Lucidao has recently unveiled its new look alongside a redefined mission. With the launch of a revamped website, Lucidao is taking a significant step towards the tokenization of Real-World Assets (RWAs), strategically positioning itself as a leading force in the intersection of blockchain technology and Real-World Assets.
The core of Lucidao's transformation lies in a strategic shift – a commitment to making the tokenization of RWAs its primary mission. This goes beyond a mere rebrand; it signifies a pivotal moment for the platform, where every innovation and product creation revolves around the tokenization and digitization of real-world assets.

At the forefront of Lucidao's success is Altr, a decentralized application (dApp) that set the stage for bringing physical luxury collectibles onto the blockchain. This initiative, born out of Lucidao's governance process, showcases the vast possibilities within Lucidao's expansive vision for RWAs.
Lucidao's Approach to Empowering Stakeholders
Empowerment is a cornerstone of Lucidao's approach to asset tokenization and digitization. Lucidao token ($LCD) holders aren't just passive investors; they are active contributors shaping the platform's trajectory. This unique governance model transforms each $LCD holder into an engaged participant, with the ability to propose, debate, and enact initiatives, fostering an agile and adaptive environment.
The $LCD token plays a central role in Lucidao's ecosystem, serving as a versatile utility token integral to governance, transaction fees, and participation in Quickswap's liquidity pool farming. Recognizing the importance of community involvement, Lucidao is set to introduce a Fiat onramp on its new website, making it easier for individuals to directly acquire $LCD tokens.
Beyond Luxury Collectibles: Lucidao's Expansive Vision
Lucidao's vision extends far beyond luxury collectibles. While Altr showcased the platform's capabilities, Lucidao aims to be an ecosystem that embraces a wide array of real-world assets on the blockchain. The advantages are manifold, ranging from increased liquidity and fractional ownership to the transparency and immutability inherent in blockchain technology. The new website acts as a comprehensive guide to these transformative initiatives, illustrating Lucidao's commitment to unparalleled innovation and inclusivity.
Lucidao's bold rebrand marks a transformative chapter in the platform’s journey as it establishes itself as a pioneer in the tokenization of Real-World Assets (RWAs). The unveiling of a revamped website symbolizes a strategic commitment, not just to aesthetics, but to a profound shift where every facet of innovation orbits around the digitization of tangible assets. Through empowerment and community involvement, Lucidao propels itself as a catalyst for innovation and inclusivity, setting the stage for an innovative approach to asset management in both digital and physical realms.
About Lucidao
Lucidao is a DAO with a primary focus on the tokenization and digitization of Real-World Assets (RWAs). Originating as an independent entity, Lucidao has given life to projects like Altr through its decentralized governance model. Using the $LCD utility token for all ecosystem interactions, Lucidao is paving the way for a transformative approach to managing assets in both the digital and physical realms, providing not just access but empowerment to community members.
For more information, visit Lucidao's official linktree.
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article as part of a "Done For You" package, priced at $2999. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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