Chakra Season 2 🧘♀️
Last updated
Last updated
Chakra Campaign’s Season 1 lasted for almost 7 months and 1.17 million $KRIYA were rewarded to more than 50,000 wallets (More details on Season 1 here)
Now the next step of growth for our spot AMM is to increase capital efficiency for these Liquidity Providers. This means increasing the APY generated from trading fee.
Today, we’re pleased to announce the start of Chakra Campaign Season 2 : Volume Sprint 🏃
As the name suggests, this season is aimed towards incentivizing volume from traders. There are no $KRIYA rewards for LPs in Season 2, Suinami Campaign emissions will continue though.
Season 2 will last for 20 days and a total 200,000 $KRIYA will be distributed in Season 2 over 20 days. Rewards will be emitted epoch wise on a rolling basis (1 Epoch = 1 Day)
Every Epoch, 10,000 $KRIYA will be split among traders based on their volume score on swaps on our AMM (Deepbook trade volume will not be considered for Season 2) in that epoch. Past epoch’s volume won’t impact current epoch’s score. This prevents skewing of the total reward pool towards whales with less transactions and gives an equal incentive to daily engagement, micro arbitrage volume.
There are 5x more points for swaps in uncorrelated pairs (SUI/wUSDCe, SUI/cUSDCe, SUI/BUCK etc.) compared to swaps in stable pairs (wUSDCe/wUSDTe, vSUI/SUI etc). User’s can check type of each pool here
We always want to brings in new traders, but never at the cost of old users. So early LPs and traders on Kriya with a Chakra Season 1 rank of under 1000 will get 2x point on every swap
Users with Season 1 boost will see a Golden Yogi on their Season 2 dashboard even after wallet login. A purple halo will surround your yogi once some finite swap volume is generated in the ongoing epoch.
As always, the Chakra Campaigns enable users to earn $KRIYA (KriyaDEX’s token) as well as WL opportunities in the KriyaDEX IDO based on their Chakra Level.
Below is the Season 2 dashboard you can access at : app.kriya.finance/rewards
Read on to learn how to participate and earn these token rewards: https://kriyadex.substack.com/p/chakra-season-2-volume-sprint
Happy trading! 🧘♂️
