💰Trading Rewards -- SEI & VRTX
Trade & Earn SEI & VRTX rewards by trading on Vertex Edge (Sei).
Vertex Edge (Sei) users can currently earn dual trading rewards in both:
SEI
VRTX
Check out the section below for more details on the parameters and distribution mechanisms for the ongoing rewards program available to Sei users.
SEI Season 1 – Trading Rewards
Introducing SEI Season 1. Trade on Vertex, earn SEI rewards.
Users can immediately begin earning SEI rewards simply by trading on Vertex Edge (Sei).
Season 1 of the SEI trading rewards lasts for 6 weeks, with a total of 5.1 million SEI tokens are available as rewards to users over that period.
Total SEI Rewards Available = 5.1 million SEI
SEI Season 1 Start = Wednesday, August 14th 2024
SEI Season 1 End = Wednesday, September 25th 2024
SEI Season 1 Duration = 6 weeks
SEI Rewards Available per Week = 850K SEI
Eligibility = Taker-only
1 Epoch = 1 Week
Earning SEI rewards throughout Season 1 is simple.
Rewards are calculated based on the trading fees paid by participants (takers-only), with a maximum of 75% of the taker fee paid returned as SEI rewards.
For example, if Alice pays $100 in taker fees on Vertex Edge (SEI) in a given 1-week epoch, Alice can earn up to $75 in SEI rewards for that week.
A taker order qualifies as any order that immediately crosses the book and takes liquidity, such as filled market orders.
Limit orders are not mutually exclusive with taker orders either.
For example, a trader might place a limit order that does not immediately match any existing orders, adding liquidity to the market. Later, the same trader might execute a market order or a limit order that matches an existing order, taking liquidity and acting as a taker.
For more details on Vertex’s trading fee model, please refer to the section here.
VRTX Trading Rewards
Sei users can also earn VRTX rewards by trading on Vertex Edge (Sei) as both a maker and taker.
The rewards for VRTX are part of the Ongoing Incentives Phase of the Vertex Trade & Earn program.
Similar to the SEI Season 1 program, users can earn VRTX by trading on Vertex Edge (Sei) throughout the duration of the VRTX Rewards Program.
VRTX Rewards for Sei users are available to both:
Takers
Makers
VRTX Rewards – Takers
The pool of VRTX incentives is split and distributed proportionally to traders based on their taker fees paid. VRTX rewards are then split between 3 chains supported by Vertex Edge, including:
Arbitrum
Mantle
Sei
The amount of VRTX allocated to users is determined by a dynamic reward distribution mechanism across all 3 Vertex Edge instances. The parameters are as follows:
Total Reward Pool: There is a total amount of VRTX tokens allocated for rewards for each epoch (~28 days) of the VRTX Trade & Earn program. Rewards are then split between the 3 chains – Arbitrum, Mantle, and Sei.
Dynamic Reward Allocation: The distribution of rewards is dynamically adjusted based on the activity and performance metrics of each chain. Examples:
More taker activity on Sei = More VRTX taker rewards on Sei.
More maker activity on Sei = More VRTX maker rewards on Sei.
Incentivize Modulation: This method aims to balance incentives across both chains, encouraging active participation and liquidity provision where it is most needed.
For a full breakdown of Vertex Edge’s cross-chain fee sharing and rewards model, please refer to the section here.
Please note that Sei users with VRTX rewards will need to use the “Chain Switcher” on the Vertex app to claim their VRTX on the Arbitrum version of Vertex Edge.
To claim your VRTX rewards from SEI, simply navigate to the "Chain Switcher" in the top-right of the Vertex app and switch to Arbitrum.
Your pending VRTX rewards will be available under the "Rewards Page" of the Vertex (Arbitrum) app.
VRTX Rewards – Makers
Makers that qualify for the Vertex Maker Program can begin immediately earning VRTX rewards as part of the Trade & Earn program on Vertex Edge (Sei) as well.
The Vertex Maker Program is a rebate-based trading fee incentive program for price makers that contribute in excess of 0.25% of maker volume in a given epoch.
Maker Rebates
The Maker Program offers VRTX token incentives allocated to a scoring function that prioritizes:
Market Support
Uptime
Fees
The scoring function is as follows:
The minimum depth and maximum spreads per market are as follows:
Depth:
$25K for stables.
$5K for core markets (BTC & ETH).
$2.5K for alt markets (non-BTC & non-ETH).
Spreads:
10 bps for stables.
30 bps for core markets (BTC & ETH).
50 bps for alt markets (non-BTC & non-ETH).
***Please Note:
The Rewards Page on Vertex (Arbitrum) will show Arbitrum-only VRTX rewards but will be the single location for users to claim rewards across all chains supported by Edge.
The Rewards Page on Sei will display VRTX rewards specific to that chain.
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