Conclusion of Season 6 of the Launch Incentive Program

dYdX Chain
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Season 6 Review

We are thrilled to mark the conclusion of Season 6 in the dYdX Launch Incentive program.

Recap of Season 6

Comprehensive End-of-Season Report

Chaos Labs has meticulously reviewed the sixth full trading season on the dYdX Chain, focusing on evaluating the impact of the Launch Incentives Program. The detailed analysis covering all facets of the exchange’s performance can be fully explored in our upcoming blog post.

Key Stats:

  • The dYdX Chain has seen over $30bn in trading volume across 133 live markets.
  • Over 4000 traders actively earn points through season 6 of the launch incentive program.
  • Funding rates in major markets continue to be muted on the dYdX Chain this season. This can be attributed to low volatility and a maturation of the ecosystem.
  • The dYdX Chain has grown to approximately $141m USDC in TVL deposited on the exchange at the end of season 5, up 4% from the beginning of the season.

Incentives Distribution Proposal

As presented to the community in our original proposal, the end of each trading season will result in a Chaos Labs recommendation for incentive distribution per account.

We plan to share this proposal for a community vote shortly after a thorough analysis of the season’s trading data, emphasizing identifying and addressing any potential wash trading activities. Our objective in highlighting and countering such activities is to ensure the integrity and effectiveness of the program. By doing so, we aim to direct the trading incentives rightfully towards participants who engage in legitimate trading activities on the exchange. This approach is crucial in maintaining a fair and productive incentive structure, which rewards genuine contributions to the exchange and discourages practices that might compromise the program’s long-term objectives and success.

We are aware of certain malicious activity involving sending high ROI accounts USDC to dilute their returns near the end of the season. An investigation into this will form part of our wash trading analysis, and the accounts ROIs will be reinstated where users are found to be victims of this.

Next Steps

  1. A detailed analysis of season 6 will be published on our blog and the forums (29/08).
  2. Publication of the distribution proposal on the forums (04/09) - This is slightly delayed due to the complexity added to the front end and the staking boosts again this season. *
  3. Creation of the on-chain vote to distribute incentives (06/09).

*Subject to us receiving all third party data in time.

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As there will be almost 2 weeks between now and the finalization of the season 6 on-chain vote, I hope in the meantime we can see already a draft version of the now-approved renewed program.

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Would be great if the report has the following too:

  1. Churn rate
  2. Avg. trades taken per season
  3. Avg. volume per trader
  4. D1 vs D7 vs D30 - Retention
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Any news here? I haven’t seen the season 6 summary anywhere, nor new details about the renewal program.

If you are serious about community input, then it should be discussed right now instead of having a finalized plan in a few days followed by an immediate vote, leaving no time for any improvements.

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no offense but don’t tell them to hurry. these coins are clearly about to take a gigantic dump down to the depths of hell in the coming week or so, unless there’s just an annoyingly large supply of permabulls stalling the collapse for longer than that and wasting all our time.

Imagine using a price average right before coins drop 20-30%! So tell them to take their time!

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Comprehensive End-of-Season Report

Chaos Labs has meticulously reviewed the sixth full trading season on the dYdX Chain, focusing on evaluating the impact of the Launch Incentives Program. The detailed analysis covers all facets of the exchange’s performance and can be fully explored in Chaos Labs’ blog post here.

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I think the results have been announced without this revision being made.

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Can you send us a DM