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The Perennial incentives program, managed by Lewi, has successfully increased liquidity and trading activity across various contracts by distributing ARB through a Merkle Drop, with positive community response and high engagement metrics. Despite some initial uncertainty and attempts at gaming the system, proactive adjustments and countermeasures are being implemented, with plans to continue the same distribution strategy to attract more users.
The discussion is centered on the Perennial incentives program, which began on November 6th and is managed by Lewi. The program aims to distribute weekly incentives through a Merkle Drop mechanism. The program has used 107,142.85 ARB for incentives, with the most recent disbursement being 125,000 ARB. A variety of contracts have been incentivized, including Ethereum, Bitcoin, Solana, Polygon, Celestia, Rollbit, Vault Alpha, and Vault Bravo. Season 2 of the ARB Rewards program is concluding, and it has been successful in increasing liquidity for Large Cap Vaults and encouraging trading activity for non-ETH/BTC markets1,2.
The community has shown a positive reaction to the incentives program, which has led to a new 24hr All-Time High (ATH) for Perennial V2 ($18mn) and over $87mn in aggregate volume. Open Interest has reached an all-time high of $12.6mn, and the program has contributed approximately $2mn in liquidity to Perennial Vaults, totaling $7mn for the protocol. The average daily total value locked (TVL) is around 7.2 million, with an average of 311 daily transactions and volumes around 3.1 million. There are 570 unique user addresses, and transaction fees amounted to $45,178.74, which are gas fees paid on Arbitrum1,2.
The plan for the next two weeks includes distributing the same amount of ARB (107,143 ARB) to the same contracts as before. The distribution will continue to use the Merkle Drop mechanism, with a focus on user acquisition and attracting users from other chains into the Arbitrum ecosystem2.
Posted 18 days ago
Last reply 2 days ago
Summary updated a day ago
Last updated 06/12 00:44