Polynomial has partnered with Synthetix to bring a new and exciting way for users to earn rewards starting April 19th at 0:00 UTC. OP season brings the opportunity to earn OP rewards simply by trading on Polynomial.
OP Season is a 20-week-long event in which 300,000 OP tokens will be distributed weekly to traders on Synthetix perps. By participating in the OP Season, traders can expect to earn significant rewards that can be used to boost their trades on Polynomial.
On the same day, the OI caps will be lifted and fees are expected to decrease significantly to 2/6 bps, leverage will be increased to 50x and advanced orders allows users with more trading flexibility and freedom.
How to become eligible for the rewards
Becoming eligible for the OP rewards is a straightforward process. Simply use the Polynomial platform to trade with multiple assets listed on the exchange. The rewards are based on the fees paid by the user, with the exception of the keeper deposit.
Once eligible, users can claim their rewards through the user interface, and may withdraw them to their wallet at any time.
Reward structure
The OP rewards program will award a total of 5,310,000 OP (approx 14.2m in current value) over a period of 20 weeks.
• Week 1 = 10,000 OP
• Weeks 2-3 = 100,000 OP
• Weeks 4-20 = 300,000 OP
Reward calculation
Traders' performance is evaluated based on the trading fees they have paid, excluding execution fees. If traders have staked SNX tokens, their score will receive a boost.
rawScore = tradefeespaid
The trader score includes a staked SNX multiplier:
traderScore = rawScore * stakedTierMultiplier
• 0-2499 SNX: 1.00x
• 2500-5000 SNX: 1.05x
• 5001-10,000 SNX: 1.075x
• 10,001-20,000 SNX: 1.1x
• >20,001 SNX: 1.15x
read more on Synthetix blog here
Reward Distribution
Following each week, users are able to claim their OP rewards directly through the UI. more details on this will be announced.
About Polynomial
Polynomial Trade is a decentralised derivative trading exchange powered by the Synthetix protocol on Optimism. The exchange allows leverage trading up to 50x with a faster and smoother UI and lower fees than other derivative exchanges.