In September last year, the AllianceBlock community led the first community-initiated DAO proposal to launch a trading competition and bring new users to the Nexera Exchange to drive usage on the innovative platform. The proposal passed with 100% votes and fulfilled the quorum.
The Nexera Exchange team has been working hard to bring this proposal to life, and we’re delighted to share that the Nexera Exchange Trading Competition will launch next week! It will begin on 22 February 2024 and run for two weeks until 06 March 2024, with up to 500k NXRA in the total prize pool.
AllianceBlock’s First Community DAO Proposal to Enhance Utility for NXRA and Attract More Users
After receiving comprehensive community feedback, the first community DAO proposal was put forward to the team at Nexera Exchange. The purpose of the proposal was twofold: to celebrate the launch of Nexera Exchange with its spate of innovative DeFi features and to get the community excited and involved in trading on the DEX and getting rewarded in NXRA.
The landscape of digital asset trading is gaining momentum in the industry. After consistent issues with centralized exchanges (CEXs) over the last few years and the ever-increasing focus on asset security and self-custody, traders are gravitating towards decentralized exchanges (DEXs). This trend continues to gain momentum.
Nexera Exchange has been developed with this in mind. The team has been focused on offering an optimal trading experience that provides the usability of CEXs but with the inherent features of DEXs.
The platform is a vital part of the broader AllianceBlock ecosystem, and this trading competition is the best way to spark awareness and excitement and attract more users. This will enhance the adoption of AllianceBlock’s suite of products and invariably improve the utility and demand of the NXRA token. The ultimate goal is straightforward: to attract a diverse and substantial user base, including high-volume traders, to the Nexera Exchange.
Gold, Silver and Bronze: All Traders Have a Chance to Win in the Three Leaderboard Reward System on All Trading Pairs
The Nexera Exchange Trading Competition aims to be inclusive and rewarding for all participants. To drive the volume of the trading competition, the total prize pool will increase in line with the total volume traded. This was put forward and agreed upon in the DAO proposal.
The rewards will start at 50k NXRA for the first 15M USD in trading volume, with a maximum prize pool of 500K matching 150M in volume. So, for every 15M increase in trading volume, another 50K in NXRA rewards will be added to the prize pool.
The rewards system has been created to be inclusive for all levels of traders. It will be a tiered approach that caters to two distinct trading groups: experienced traders, who deal in larger volumes, and smaller traders equally vital to the platform’s success. Traders will compete for a potential total prize pool of 500k NXRA. Below are the official prize categories.
Gold Leaderboard: Trading Volume
The first category is the Gold Leaderboard. This tier is based on the volume of trades executed using the Nexera Exchange on both available networks on the exchange (Ethereum and Arbitrum). Both market and limit orders will count (if a limit order is filled), with the overall volume measured in USD.
The prize pool for the Gold Leaderboard starts at 25k NXRA for the first 15M USD in trading volume, for up to 250k when trading volume reaches 150M USD.
The top three traders with the most volume after the two-week competition period will split the prize pool depending on the total volume traded at the below percentages:
- First Place: 50%
- Second Place: 30%
- Third Place: 20%
In the event of two winners tied in the first place, they will split the allocation for the first and second place and receive 40% each, with the third place receiving 20%. If three or more winners tie for first place, they will split the Gold Leaderboard prize pool equally.
Silver Leaderboard: Daily Trading Activity
The second category is the Silver Leaderboard, which is based on daily trading activity. There are two ways to earn points for this category: the first is executing a trade every day, and the second is trading using multiple token pairs. The data for this Silver tier will be updated once every hour and be shown on the leaderboard.
The more consecutive days you trade, the higher the points you will receive. If you miss trading on a day, you will keep your points but start by earning one point again. Below, you will find how the points are allocated.
You will also get points for trading on multiple pairs. For every pair you trade, you get 1 point. The maximum amount of points you can earn within the trading competition for trading multiple pairs is 10.
The prize pool for this category starts at 12.5k NXRA, for up to 125k NXRA, when trading volume reaches 150M USD.
The top three traders with the most points after the two-week competition period will split the prize pool depending on the total volume traded at the below percentages:
- First Place: 50%
- Second Place: 30%
- Third Place: 20%
In the event of two winners tied in the first place, they will split the allocation for the first and second place and receive 40% each, with the third place receiving 20%. If three or more winners tie for first place, they will split the Gold Leaderboard prize pool equally.
Bronze Leaderboard: Raffle
The third category is the Bronze Leaderboard. This will be a raffle prize accessible to anyone connecting to the exchange. You must purchase at least $100 worth of NXRA on the exchange to qualify. The winners will be drawn using Chainlink VRF to verify the outcome on-chain.
The prize pool for this category starts at 12.5k NXRA, for up to 125k NXRA, when trading volume reaches 150M USD. There will be five winners for this category, splitting the prize pool and receiving 20% each.
Competition Dashboard
The Nexera Exchange team has implemented a ‘Competition Dashboard’ that tracks the top addresses per category to make it easy for users to track their progress in the competition. Traders can track their wallets with their accumulated volume in the Gold Leaderboard, points earned in the Silver Leaderboard, and whether their wallet address has qualified for the Bronze Leaderboard.
Traders can gain rewards from the above trading categories using all trading pairs on the Nexera Exchange. Trading on Ethereum and Arbitrum networks will count, and both market and limit orders (filled) will also count. Trading any NXRA pair (NXRA/USDT, NXRA/WETH) will simultaneously qualify you in all reward categories! The exchanges’ on-chain limit order book is connected to Uniswap liquidity and Nexera Exchange’s order books. Volume in each trading pair is conducive to Uniswap’s.
AllianceBlock Community Shapes NXRA Utility by Unlocking DAO Treasury with 100% Vote and Over Quorum.
AllianceBlock is very excited to implement the first community-initiated proposal from the AllianceBlock DAO. The NoMercy community is integral to AllianceBlock and is vital for a solid and inclusive ecosystem. By allocating the trading competition rewards from the DAO treasury and having a 100% vote for and over the quorum, the community is shaping how NXRA is utilized in the broader ecosystem.
The increased volume on the Nexera Exchange and the distribution of more NXRA in rewards enhances the demand and utility of NXRA, which are partially distributed back to NXRA holders.
Keep your eyes on AllianceBlock and Nexera Exchange socials for more updates about the Trading Competition, and happy trading!
About AllianceBlock
AllianceBlock is an infrastructure provider for decentralized tokenized markets. It empowers businesses with liquidity provisioning and allows them to compliantly issue, manage, and trade tokenized digital assets, including real-world assets (RWAs).
The AllianceBlock ecosystem of partners, clients, and ventures consists of top stakeholders from the financial industry and the decentralized finance (DeFi) sector. Their unique product suite complies with global regulations and integrates with legacy systems.
Follow AllianceBlock on X and join the Telegram Community to stay updated on the latest AllianceBlock news and updates.
You can also find AllianceBlock on:
Telegram · Twitter · LinkedIn · Website · Instagram · YouTube · Medium
