We’re reaching out to update the community about a recent adjustment in the allocation of Trading Activity points within the dYdX Launch Incentives program. The formula now excludes points accrued from liquidation events to refine the allocation system. This change is part of our commitment to ensuring the most equitable and effective outcomes for all participants. Those who experienced liquidation during Trading Season 1 will notice a revision in estimated Trading Rewards points balances. We keenly observe and adapt our distribution formula based on real-world data to achieve the best possible system. Additionally, we are conducting a thorough wash trading analysis. The findings from this analysis will be integral in further updates to the trading points and will be shared at the end of the trading season.
It is important to note that these changes are specific to trading activity points and do not impact the distribution of market-making points.
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I was just told by one of your team member that Chaos labs is responsible for the rewards distribution and they can change the rules anytime they want, without any warning, they can literally decides that users with less rewards points gets more rewards in the end, which is strange for me because they change this rule without any warning what if they change it again, does everyone know this? because its new information for me
It’s important to clarify, as the original post may not have made this explicit, that this update is intended for future application. Therefore, any points accumulated up until now will remain unaffected. Due to the formula change, some users may have noticed changes in their estimated points balance on the public Chaos UI. We are aware of this and expect to rectify any discrepancies in the next few days.
The main purpose of this post is to keep the community informed about the latest updates to the program, ensuring a transparent process throughout. The recent adjustment to the formula is aimed at encouraging and enhancing desired user behaviors on the dYdX Chain, with a particular focus on boosting trading volumes. As we highlighted in our initial proposal, we anticipated the possibility of making periodic modifications to the formula throughout the program. This approach is designed to fine-tune the reward distribution process, thereby optimizing the DAO’s investment return in this initiative.
We’d like to emphasize that additional modifications to the program may be implemented as it continues to evolve. The process of reward distribution is not fixed; it needs to adapt and respond to ongoing changes in user engagement and market dynamics. In response, we are dedicating considerable resources to refine the reward strategy continuously and to enhance our ability to identify and address unwanted behaviors and wash trading anomalies. As our analytical models evolve and assimilate more data, we anticipate an increase in their accuracy and efficacy. Our ultimate aim is to achieve a reward distribution mechanism that becomes more precise and effective over time, adapting seamlessly to the changing landscape of our program.
We are committed to maintaining the highest level of transparency. We will keep the community consistently informed about the program’s development through our comprehensive periodical reports, and provide immediate updates in response to any potential changes to the program.
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As an update, we have updated the leaderboard to accurately show all the latest point totals. For those accounts that saw a decrease in their estimated points a few days back, we have made necessary adjustments, ensuring that all points are now fully restored.
How about you show total number of points earned to the date?
We are constantly iterating on the portal and will consider this in the next update ahead of the coming trading season. Thanks for the feedback @RealVovochka!