The BSX Summit Taker Program, now enhanced with the introduction of BSXP (BSX XP), heralds an exciting new chapter for BSX. This initiative is crafted to reward users and align incentives as we scale towards 2025. Below are the key details of the program:
Start Date: January 27, 2025, 0:00:00 UTC (ongoing)
Epoch Duration: Each epoch spans 14 days.
Seeded Pool: The inaugural epoch is supported by a 1 million BSX reward pool.
Trading Rewards: Earn 1000 BSXP for every $1 in trading fees, directly linked to all your activities on BSX.
Deposit and Vault
Starting in Epoch 2, users can earn BSXP by depositing and holding assets on BSX for trading collateral in vaults.
Multiple Snapshots: Random snapshots are taken throughout the day to confirm your holdings. On average:
1 BSXP/day for $1 USDC holding
1.1 BSXP/day for $1 ETH holding
1.15 BSXP/day for $1 BTC holding
Extra Points: Users can earn additional points by depositing partnered staked assets and stablecoins.
Referral Program
Earn 10% of referred fees in points and cash through a streamlined, single-level referral system. Higher-tier rewards (up to 60%) will be announced for VIP affiliates and partners/builders.
Reward Distribution
In each epoch, traders’ rewards will be calculated using the following formula:
where R represents the total rewards pool allocated for the epoch in $svBSX, and r denotes the rewards allocated to a specific trader.
At the end of each epoch, your earned BSX will be automatically staked as $svBSX in your staking account, accruing a 15% APR, with a 14-day unlock period.
For example:
Epoch 1: 1 million BSX tokens allocated.
Total gems earned by all traders: 1 million gems.
Trader A earns 1,000 gems during the epoch.
Trader A’s BSX rewards = (1,000 / 1,000,000) × 1,000,000 = 1,000 BSX tokens.
Maximize Your Rewards
In the following epochs, we will introduce power multipliers for various user groups on BSX, including NFT holders and VIP traders. Additionally, multipliers for new vault products and market liquidity will be available, offering up to a 5x multiplier.
Occasionally, BSX will distribute extra rewards and other incentives through partner programs, further enhancing your earning potential.
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This program is designed to maximize user engagement and reward loyalty as we continue to grow and innovate. Stay tuned for more updates and opportunities to boost your earnings!
Are you building on Base, managing trading groups, or want to write about BSX? Please reach out for collaboration: marketing@bsx.exchange
