Delta Exchange’s $DETO Rewards: $50 Million Reward Pool with Trade Farming!
Introduction to Delta Exchange
One of the leading crypto derivatives exchanges, Delta exchange, was founded in 2018 with a vision to build the most liquid, advanced, and recognized crypto derivatives exchange for both retail and institutional investors. Delta Exchange is backed by Aave ventures, Sino Global, Kyber Network, Spartan, and CoinFund.
It currently allows derivatives trading in a host of contracts, including futures, perpetual swaps, spot trading on over 100 cryptocurrencies, and options on top altcoins, including ETH, BTC, BNB, LTC, etc. Other innovative products unique to the exchange include MOVE, calendar spreads, and interest rate swaps.
The exchange has recently surpassed $400 million in daily trading volume. Its monthly trading volume hit an ATH of $12 billion. Demand for options, especially Solana(SOL) and Binance(BNB), is rising among the traders. To incentivize the same, Delta Exchange has launched one of the biggest trade farming rewards on the platforms where traders will be able to earn up to $50 million in DETO rewards.
DETO is an ERC-20 based native token of the platform. The current price of a DETO token is $0.29. It has a circulating supply of 140 million and a total token supply of 500 million. DETO is built in a way that it serves much more than just fuelling the exchange economy; a sustainable and all-inclusive rewards program is built around DETO to reward active participants and provide an impetus to trading volumes on the platform.
The platform has committed 20% or 100 million DETO tokens to the rewards pool to be roughly distributed over 12-18 months via farming, staking, referring, Robo trading, and mining activities on the platforms.
About Trade Farming
As the name suggests, trade farming earns passive yields while you transact trades on a crypto exchange. Delta Exchange has launched a mega trade farming program on 6th December, where all the active traders on the platform will be automatically eligible to participate in the program.
Trade farming, a subset of yield farming, doesn’t require the traders to perform any specific task or stake their cryptos in any particular program. As the trader carries on with their daily trade activities and incurs trading expenses in the form of fees, the trader gets daily rewards from the reward pool of the program in proportion to the trading fees incurred by them.
Trade Farming with Delta Exchange
As discussed, to be eligible for trade farming on the exchange, all you need is to trade on the platform. If you are a new user, you need to sign up on the platform and make your initial deposit in your exchange wallet, and viola! You are all set to begin trading. No matter what contract you are trading in, you become automatically eligible for the reward program.
The exchange has allotted a $50 million DETO token pool to fund the program from 6th December onwards, all through 2022, and maybe, beyond. Traders will be eligible for daily rewards, and the daily reward pool is capped at 100K DETO. A trader can earn up to 20% of the daily reward pool throughout the program duration.
Your daily reward equals the fees you pay, multiplied by the daily reward pool, divided by the total fees paid by all the qualifying traders. Traders enrolled as Super VIP and RMM are not eligible for trade farming rewards.
Terms and Conditions of Trade Farming With Delta Exchange
- The daily reward pool cycle will begin from 12 PM on Day n and end at 12 PM on Day n+1. The rewards for a particular reward cycle (in this case, 12 PM (Day n)-12 PM(Day n+1) will be distributed the next day (8 AM on Day n+2).
- The rewards will be released to individual wallets daily but would require a vesting period of 180 days before they can be consumed.
- The total reward pool for the trading program is capped at $50 million DETO, while the daily reward pool will have 100K DETO rewards. The unallocated rewards for each day would be added back to the program reward pool.
- Besides traders, all APIs and bots will be eligible for the farming reward program. They can trade across any derivatives contract concerning any crypto that the platform supports.
- Verified as well as unverified traders get DETO rewards. However, the unverified traders would have to verify themselves to claim the reward.
- The trading fees paid on the platform would be the only factor considered in the reward calculator formula. All other fees, such as liquidation fees or trading fee credits, cannot be considered for reward calculation.
- The profits earned by the traders won’t affect the eligibility of the trader or the frequency or magnitude of the rewards.
- If a trader wants to opt-out of the program, they can write to Delta Exchange at [email protected].
- All logged-in users would be able to view their trade farming rewards on the all Markets Page. If they want to view their fees, they may visit the transaction log page.
Conclusion
Delta Exchange has been at the maximum end when it comes to bringing in initiatives that concern the all-inclusive development of the platform and its stakeholders. Besides the multitude of rewards and offers currently active on the exchange, this massive trade farming program rewards the traders for what they love doing – trading cryptos via derivatives. What are you waiting for? It’s time you let your trading earn rewards for you – It’s time for trade farming with Delta Exchange!
