Will the 10,000 most active on-chain perpetual traders really be drawn in by points this time? On October 11, Variational, a derivatives protocol running on Arbitrum ($ARB ), announced that it would distribute over $1 million plus 150,000 platform points to these 10,000 traders (excluding market makers). Eligible users can earn up to 3,000 Variational points, while referrers can earn up to $15,000. More than 750 new users have already registered through the campaign.
On September 24, the team announced the allocation of its VAR token ($VAR): 32% for the genesis airdrop, distributed in proportion to points and 100% unlocked at TGE; 18% for the ecosystem reserve, to be allocated by the foundation; and 50% for the team and investors, subject to a 12-month lockup after TGE. The announcement ends there, so I won't fill in any missing unlock details.
$ARB is currently at 0.1988 USDT, up 6.77% in 24 hours. Rewards are meant to bring people in; the price will do its own thing. Don't use the announcement as a basis for trading.
Of those 750 users, how many do you think came for the points?
#BinanceSquare
On September 24, the team announced the allocation of its VAR token ($VAR): 32% for the genesis airdrop, distributed in proportion to points and 100% unlocked at TGE; 18% for the ecosystem reserve, to be allocated by the foundation; and 50% for the team and investors, subject to a 12-month lockup after TGE. The announcement ends there, so I won't fill in any missing unlock details.
$ARB is currently at 0.1988 USDT, up 6.77% in 24 hours. Rewards are meant to bring people in; the price will do its own thing. Don't use the announcement as a basis for trading.
Of those 750 users, how many do you think came for the points?
#BinanceSquare