ZKX OG Trade LIVE on Mainnet

Wen Mainnet? WE ARE LIVE ?

The wait is finally over; meet OG Trade. A gamified perpetual swaps exchange on Starknet, designed for scalping and short-term traders, brings an edginess with gamification that we always love bringing to the table.

< It’s Trade or Die >

Things to be excited about? A departure from the usual UI. Engage in one-click trading and battle it with traders for each asset: ETH, SOL & BTC. Your trading skills get you in line for locked $ZKX rewards, PVL (Profit, Volume, and Loss) Badges and exclusive Clan NFTs.

On the fundamental front, your funds are in the ZKX Account, which you are in control of at all times. What makes this experience seamless is our appchain, which enables gasless trading, transparent order matching, and lightning-fast execution.

But wait, there’s more! The real highlight is the Clans – Imagine your CT personality translated to 4 clans that you can get into on the basis of your on-chain history. Let’s jump into how we reached here in the next section ??‍♂️

Setting up the Stage

The purpose of building this exchange isn't to create another Perp Dex. The goal is not only to provide an exchange that caters to all sizes of traders but also to build on this vision of 'One Stop solution for DeFi '.

Of course, this strategy sounds great but requires some steel and hard work. The ZKX Core team has worked xxxxx hours to make this vision a reality.

We have spent many physical and mental hours ensuring you enjoy this exchange by being secure, in control, and exploring what all you can do in Decentralized Finance. Also, have been audited twice by Nethermind Security.

Now let’s dig into the blog – divided largely into 3 parts as detailed below.

Part 1: OG Trade

Part 2: Reward Zone

Part 3: ZKX OG Clans

Part 1: OG Trade

Traders will get to compete in 30-minute competitions for rewards in the following categories: Profit, Loss, and Volume.

Profit, Loss, and Volume have distinctive Gold, Silver, and Bronze badges unique to each category.

Rules of the game

Here, you enter a competition of 30-minute with traders on each pair. Depending on your trading skills, you will join the Rewards Zone if you are on the leaderboard of any of the following categories: Profit, Volume or Loss (That's right, even Loss)

Example

1. You are CTlord96 on ZKX OG Trade.
2. Remember that you can open a position on any of the three assets, but your rewards are based on the session when you close the position.
3. To qualify for the Rewards Zone, secure a top 10% position in any PVL category for the chosen asset.
4. The color of the reward zone indicates the category—Green for Profit, Blue for Volume, and Red for Loss.
5. The top 3 traders receive Gold, Silver, and Bronze badges based on their PVL position on the leaderboard.

Now, let's get into the best part - Rewards ?

Part 2: Rewards Zone and Incentives

To bootstrap the mainnet launch, 7 million tokens (out of 18%) are allocated from Trading Incentives for the first 2 months.

What is the Rewards Zone?

Being in the Rewards Zone means you are receiving $ZKX token rewards.

But there are some rules to the game.

• The top 10% of traders from each Profit, Volume and Loss category will be in the Rewards Zone, with a maximum capacity of 100 traders.

• While the top three traders receive the majority of tokens, all other winning participants receive equal tokens.

• The rewards pool consists of 260 $ZKX tokens / Category - Profit, Volume and Loss.

• Total = 781 $ZKX per asset (BTC/ETH/SOL) per 30 min session.

How does it work?

1. For less than 10 Traders - The Reward Zone equals the number of participating traders.
2. From 11 to 100 Traders - The Reward Zone is equal to ten traders.
3. From 100 to 1000 Traders - The Rewards Zone is equal to 10% of traders.
4. For more than 1000 Traders - The Reward Zone is equal to 100 traders.

Example 1:

• Traders participating in the trading session: 200
• Top 10% Traders: 200 * 10% = 20
• Therefore, Reward Zone = 20

For a deep understanding of the Reward Zone, refer here.

How are the rewards calculated?

$ZKX tokens (locked) are distributed in the following way –

Every trader in the reward zone receives a share (65%) divided by the number of traders, known as the Reward Zone Premium.

1. 1st place - 20% of total session tokens + Reward Zone Premium
2. 2nd place - 10% of total session tokens + Reward Zone Premium
3. 3rd place- 5% of total session tokens + Reward Zone Premium

Example 1:

• Reward zone size: 100
• Total number of traders: 1000
• Tokens allocated for the session: 260
• Reward Zone Premium = ( 260 * 65% ) / 100 = 1.69 tokens per trader
• 1st place: 20% * 260 + 1.69 = 52 + 1.69 = 53.69
• 2st place: 10% * 260 + 1.69 = 26 + 1.69 = 27.69
• 3rd place: 5% * 260 + 1.69 = 13 + 1.69 = 14.69
• 4th place to 100th place = 1.69

Part 3: ZKX OG CLANS

How does it work?

1. You have 4 clans, and your on-chain history in DeFi plays a role in determining your clan.
2. Membership in Clans is on a First-Come, First-Served basis.
3. Your Exclusive Clan NFTs will be minted in your ZKX Account on Starknet. These NFTs are commemorative.

What are the Perks of being in a clan?

1. Participation in OG Trading, Clans, and Community Campaign is the eligibility criteria for Phase 2 of the Airdrop.
2. Phase 2 of the airdrop accounts for the remaining 12.1% supply of tokens (2.9% claimed for Airdrop 1) earmarked for the Token Community Launch.
3. There is a Private VIP TG Group for Ethereum Titans and DeFi High Rollers members

Check if you are a Pachinko Degen, Yakuza Baron, DeFi High Roller or Ethereum Titan in the eligibility criteria here.

NOW MARKET GIVETH & MARKET TAKETH AWAYYY VALHALLA IS WATCHING, THIS IS YOUR CHANCE DEGENS ?

All these features set ZKX apart from the competition. We believe that today's announcement is just the beginning of what's possible.

Get Ready to Trade Perps…..GAMIFIED.