YFX V3 Trading Festival is here. Buy YLP & trade on YFX to win up to 1,000,000 YFX!
To celebrate the successful deployment on Arbitrum One, YFX is thrilled to launch the first YFX V3 Trading Festival. In this festival, users who complete trades on eligible trading pairs or buy & hold eligible YLP tokens will stand to share up to 1,000,000 YFX in total rewards!
Event Period: 2023–08–24 12:00 (UTC) to 2023–09–24 12:00 (UTC)
During the event, YFX will also lower the transaction fees for opening & closing positions from 0.08% to 0.04%, the lowest among decentralized perpetual exchanges.
Please note: Eligible trading pairs include BTC_USD (USDC settled), ETH_USD(USDC settled), and ARB_USD (USDC settled). Eligible YLP tokens include YLP(USDC1) and YLP(USDC2).
Join YFX V3 Trading Festival Now!
Event 1: Buy & hold eligible YLP tokens to share up to 500,000 YFX!
During the event, users can buy eligible YLP tokens and hold them to earn YLP Multiplier Points. The more eligible YLP tokens a user holds and the longer they hold, the more YLP Multiplier Points they can earn. When the event ends, the YFX rewards are distributed according to the number of YLP Multiplier Points each user earns.
More YFX rewards will be unlocked as the value of designated YLP pools increases. The value of the YLP pools is calculated by taking the average of the current 1st, 2nd, and 3rd highest intraday value of YLP(USDC1) and YLP(USDC2) pools combined. For every 1 million USD increase in the value of the YLP pools, the total rewards will increase by 50,000 YFX, up to a maximum of 500,000 YFX.
YLP Multiplier Points are calculated using the formula below and updated every minute.
YLP Multiplier Points = ∑USD value of eligible YLP tokens one address holds every minute
Please note that YLP Multiplier Points are created for this event only and will not exist after the event ends.
Details on Total YFX Rewards
Event 2: Trade eligible asset pairs to share up to 500,000 YFX!
During the event, users can trade eligible asset pairs to win YFX rewards. The more a user trades, the more YXF reward they can get. When the event ends, the YFX rewards are distributed according to each user’s trading volume in USD.
More YFX rewards will be unlocked as the total trading volume increases. For every 10 million USD increase in the total trading volume, the total rewards will increase by 10,000 YFX, up to a maximum of 500,000 YFX.
Before the event starts, all users who have traded on GMX V1, Gains Network, Vela Exchange, MUX Protocol, and Level Finance will receive a 30% competitor boost when trading volume is calculated. For example, if a user gets a competitor boost and makes a 100 USD transaction on eligible asset pairs, their trading volume increases by 130 USD.
Details on Total YFX Rewards
How to get started?
Step 1: Go to https://app.yfx.com/#/?chain=arbitrumOne.
Step 2: Connect to your wallet.
Step 3: Click “Trade” on the top panel and start trading perpetual contracts. Click “Liquidity” on the top panel, then click “Buy” under the two YLP(USDC) pools to buy and hold YLP tokens.
* You can check the ongoing status of the YFX V3 Trading Festival by clicking “Activity” on the top panel.
Terms and Conditions
1. For Event 1, the eligible YLP tokens are YLP(USDC1) and YLP(USDC2). Users who buy and hold other YLP tokens will not earn YLP Multiplier Points.
2. For Event 2, the eligible asset pairs are BTC_USD (USDC settled), ETH_USD(USDC settled), and ARB_USD (USDC settled). If a user trades other asset pairs, the trading volume will not be counted, and they will not receive YFX rewards.
3. All rewards will be distributed within three working days after the event ends.
4. YFX reserves the right to disqualify a user’s reward eligibility if the address is involved in any dishonest behavior.
5. YFX reserves the right to cancel or amend any event or event rules at its sole discretion.
