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An important aspect of promoting the sustainable development of the project is to retain users and community members. To encourage and reward trading activities, Traders will receive daily rewards based on the size (USD volume) of their converted trades and closed trading positions.
Depending on the trading volume level, users will receive different rewards, with higher trading volumes receiving larger rewards.
Below are some examples to better understand how rewards are earned when trading with Open Meta Trade.
🔸 How to participate in the Loyalty program and receive trading rewards?
Whenever you make any trade, you will automatically receive reward points as soon as the trade is executed (swapped or closed a position). Users can access the program interface to check their reward point balance and activities.
🔸 How many reward points will you receive when closing a 10,000 USD BTC position?
For every 1 USD of trading volume, you will receive 1 reward point. Therefore, for a trade worth 10,000 USD, you will receive 10,000 reward points. The ratio is always 1 reward point for every 1 USD of trading volume.
🔸 What do you get with 10,000 reward points?
This depends on three factors:
- The volume you traded (in USD value)
- The total trading volume on Open Meta Trade
- The rewards allocated to the Loyalty program
On March 7th, the total trading volume on Open Meta Trade reached 1,000,000 USD, equivalent to 1,000,000 reward points distributed to all traders (1 USD trading volume = 1 reward point).
If there are 10,000 USDC rewards allocated for that day, you will receive 100 USD for your 10,000 reward points.
Calculation: (10,000 reward points) / (1,000,000 reward points) * (10,000 USDC) = 100 USDC
On March 7th, the total trading volume on Open Meta Trade reached 2,000,000 USD, equivalent to 2,000,000 reward points distributed to all traders.
If there are 10,000 USDC rewards allocated for that day, you will receive 50 USD for your 10,000 reward points.
Calculation: (10,000 reward points) / (2,000,000 reward points) * (10,000 USDC) = 50 USDC
🔸 Can reward points be transferred between users?
Reward points are designed to be received as a bonus when trading on Open Meta Trade. There will be no official liquidity pool or other incentives for owning, trading, or transferring reward points.
Note:When converting between two stablecoins, such as USDC and USDT, you will only receive 1/20 of the reward points compared to converting or trading between any other assets because the conversion fee for stablecoins is very low, resulting in lower corresponding fee revenue. For example:
- When converting 100 USD worth of ETH to another token, you will receive 100 reward points (1 USD trading volume = 1 reward point)
- When converting between two stablecoins, such as 100 USDT to 100 USDC, you will only receive 1/20 (or 5%) of 100 reward points, equivalent to 5 reward points.The reason is that the basic exchange fee is 0.4% while the basic fee for exchanging between stablecoin pairs is only 0.1%. The platform earns less fees from stablecoin conversions, so the reward points will be lower accordingly.