We are thrilled to announce that ODX's testnet officially met the community on September 1st. ODX is a decentralized perpetual contract exchange built on its custom ODX zkEVM chain. For more details, please refer to: Introducing ODX.
The ODX testnet will last for 3 months, and we sincerely invite the community to participate in testing ODX. For all users who contribute during the testnet, 3,000,000 esODX will be distributed as rewards. Rest assured that when the ODX mainnet is launched, users will be able to claim their well-deserved rewards.
Event Duration:
09/25 0:00 UTC - 12/31 23:59 UTC
Testing Focus:
The testnet will focus on two aspects: Products and Tokenomics. Products include the ODX official website and ODX App. The main testing contents include Staking, Trade, Add and Remove Liquidity, Liquidation, Oracle, Fee structure, and Tokenomics.
Testing Incentives:
3% of esODX will be allocated as community testing rewards, totaling 3,000,000 esODX. Refer to the economic model. The testnet will be divided into three incentive pools, corresponding to different roles of participating users:
Liquidity providers in Liquidity Provider Pool will be given 1,500,000 esODX
Traders in Trader Airdrop Pool will be rewarded 1,000,000 esODX
Profitable traders in Traders Trader Profit Airdrop Pool will get Max 500,000 esODX
How to Participate:
Step 1: Obtain Test Coins
GoerliETH:
Free way https://opside.network/goerli
Paid way https://testnetbridge.com/
OBTC：0xAAb8FCD8DD22a5de73550F8e67fF9Ca970d1257E
OUSDT：0xFefEab21A1CddBAda7c1077FBc1cC92e07B5ce78
OUSDC：0x6187f53e7AC4cfB95ea1c4E906e777d0d2f6763E
Note:
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Go to the rollup bridge to transfer GoerliETH from the Goerli network to the ODX zkEVM chain.
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Visit Sideswap, switch to the ODX zkEVM network, and exchange GoerliETH for the tokens you need.
Step 2: Interact with ODX
Visit dapptest.odx.finance, connect your wallet, and interact with ODX, including actions such as buying OLP (adding liquidity), trading, and swapping.
Reward Rules:
Liquidity Provider Pool
Reward: 1,500,000 esODX Users are required to provide liquidity on ODX, and the liquidity will be automatically staked. The reward for liquidity provided is directly proportional to the staking duration (measured in seconds). The longer the liquidity is staked, the higher the percentage of rewards it can earn.
Trader Airdrop Pool
Reward: 1,000,000 esODX, with 71,428 esODX weekly Users need to engage in trading activities on ODX, including opening and closing positions. Each successful position closure (excluding liquidation events) accumulates a closing volume recorded in USD. Rewards are calculated weekly based on the user's share of the total closing volume on the platform for that week. Rewards are updated weekly.
For example, if the total closing volume on the platform for a week is 10,000 USD, and Bob closes positions worth 100 USD during that week, Bob's Airdrop reward from this pool for that week would be 100 / 10,000 * 71,428 esODX = 714.28 esODX.
Trader Profit Airdrop Pool
Reward: Up to 500,000 esODX
During the testnet activity, the profit pool will dynamically adjust based on the current number of target profitable traders.
At the end of the testnet, profits will be distributed among profitable users based on their share of profits relative to the total profits generated by all profitable users. Here's an example:
Suppose there are 10 profitable traders at the end of the testnet, and their individual profits are as follows: 1000 USD, 900 USD, 800 USD, ..., 100 USD. Let's say Bob is the top profitable trader with 1000 USD in profit.
Bob's reward would be calculated as follows:
Reward = (Bob's Profit / Total Profits of All Profitable Traders) * Total Reward Pool
In this case, Bob's reward would be: (1000 USD / (1000 USD + 900 USD + 800 USD + ... + 100 USD)) * 10,000 esODX = 1,818 esODX
So, Bob would receive 1,818 esODX as his reward from the profit pool.
Reward Distribution:
After ODX token launch, rewards will be automatically airdropped to the addresses of users who interacted during the testnet period.
In conclusion
The ODX testnet event promises to be an exciting community interaction experience, and we encourage every community member to actively participate. We look forward to embarking on this new milestone together with you!
ODX Team