Surge Program: dYdX’s Initiative to Reward On-Chain Engagement
dYdX protocol has launched the Surge program, a nine-month trading competition with a budget of $13 to $20 million in DYDX tokens. Participants are rewarded based on a transparent points system that takes into account trading volume, platform usage, and engagement with the ecosystem. The program aims to stimulate activity on the platform while maintaining the protocol’s decentralized identity.
In each monthly round, traders accumulate points based on their trading volume, usage of the dYdX application, and engagement with the ecosystem. At the end of the month, rewards are distributed based on a leaderboard, which is updated in real time by Chaos Labs and published on the community forum.
Clear Rules and Rewards Based on Performance
The Surge program awards 50% of the points based on trading fees, 25% for platform usage, and 25% for activating specific features like staking or returning as a previous user. This segmentation aims to recognize both high trading volumes and overall engagement.
The program is divided into two phases, with the first six seasons targeting takers and the final three seasons including incentives for makers to deepen the order book liquidity.
dYdX Surge: A Seasonal Communication Strategy
The Surge program’s calendar encourages regular and engaging communication. Each month starts fresh, with rankings reset and rewards accessible again. This approach facilitates the creation of educational and dynamic content, including social media posts and explanatory videos.
dYdX’s strategy remains faithful to its DNA: an educational and meritocratic approach, without promises of excessive gains or incentives for excessive risk-taking. The program aims to reactivate previous users and attract new users from both CeFi and other DeFi ecosystems.
A Robust and Trader-Centric Protocol
dYdX, launched in 2017, has established itself as a leading decentralized trading platform. Its self-hosted infrastructure ensures users’ total control of funds, while its dynamic order book model provides a centralized-like trading experience without compromising decentralization. With over $1.5 trillion in cumulative volume, the platform has gained the trust of professional traders and DeFi enthusiasts. The Surge program further reinforces dYdX’s ambition to provide powerful, fair, and 100% on-chain trading.
