Suggestions to Improve Upcoming Launch Incentives

dYdX Chain
1

Hello @chaoslabs,

I’ve been trading on the DYDX platform for about a month and a half now, and I’m quite impressed with the incentives for traders. I believe they play a crucial role in attracting new traders and ensuring the platform’s sustainable growth. However, I’d like to offer some suggestions on how the incentives could be structured more effectively based on my experience trading on multiple platforms:

  1. Revamping Rewards Distribution:
  • Instead of distributing rewards proportionally, I propose introducing raffles or mystery boxes based on a tiered approach.
  • These tiers could be determined by trading volumes observed in previous seasons, encouraging traders to aim for higher tiers.
  • Traders could earn raffles or mystery boxes for both weekly and cumulative season trading volumes.
  • Incorporating a mystery element could add excitement and the potential for higher rewards based on luck, while maintaining the overall reward allocation.
  1. Enhancing Trading Leagues:
  • Currently, I believe the design of trading leagues may discourage trading, especially in lower-tier leagues, when traders have already achieved substantial profits and secured top positions.
  • To address this, I suggest introducing a minimum level of trading activity based on volume or the minimum number of days a trader needs to actively trade during the season.
  • This approach would complement the existing profitability metrics, encouraging consistent trading engagement throughout the season.

I hope these suggestions are helpful in optimizing the trading experience and fostering greater participation on the DYDX platform.

2

Would you suggest to introduce some sort of trailing average for the previous seasons?
Such that scoring high in the previous season(s) gives you a little bit of an edge for the current season?

3

I think that can discourage new users as we are already in Season 4. Also, to be honest, I am hoping to receive feedback from @chaoslabs because there is no point in these improvements/feedbacks being discussed if it is not reaching to the right people.

4

Hi @sagar - thanks for your comment here. It is great to hear that you have had such a positive experience trading on the dYdX Chain so far.

And thank you for these suggestions. The mystery element and adding additional trading criteria for league participants could be beneficial, and it is something our team will look into further. In addition, The Launch Incentives Program extension was voted through on April 28, so we will maintain the structure of the program as outlined in that proposal to maintain the integrity of the governance process. However, we want to thank you again for this thoughtful feedback and encourage you to share more as our team sees this and will take this into account.

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