The Road to Launch: IDEX Testnet Whitelist Opens With 2.2 Million $IDEX In Rewards
TL;DR:
Testnet is coming very soon… stay tuned for an official date.
Community Whitelist is open with 1.2M $IDEX tokens allocated for Testnet trading rewards – join via our Discord
Market Maker Whitelist is open with 1M $IDEX tokens allocated for Testnet MM rewards – integrate now via our API Docs
75M $IDEX tokens allocated to the Market Maker Rewards Program over three years – see full details
Big things are happening…
The time has finally come. We’re incredibly excited to officially announce: we’ve unlocked the IDEX Testnet Whitelist for both Market Makers and the community. With this major step toward launch, we’re inviting the broader community to take the steps to be ready to participate once we launch our Public Testnet (date to be announced soon, stay tuned).
Talk to me about the Community Whitelist. Immediately.
When the Public Testnet goes live in the near future, you’ll need to be whitelisted for access – and to take advantage of the exclusive rewards that’ll be available. Once your eligibility is approved, you’ll be able to earn a share of the 1.2M $IDEX tokens allocated for Testnet trading rewards (specifics under wraps for now, but we think you’ll be stoked).
Why do this now if Testnet isn’t live yet? You know what they say – stay ready so you don’t have to get ready. You’ll want to get whitelisted immediately so you’re ready to go as soon as the Public Testnet is live (again, date coming soon). Not to mention, we expect a pretty big wave of applications once it’s live, so this is a great way to stay ahead of the curve and be there from the very beginning.
Where do I sign up?
Join via our Discord. If you're new, start the verification process. Navigate to the #wl-start-here channel to complete a simple captcha, which will unlock the #wl-submit-wallet channel. Then submit the public address you plan to use with the Testnet by sending it as a normal message. Boom, you’ll now be in the pipeline for approval.
What happens next?
Once you’re whitelisted, just sit tight and keep an eye on our Discord and any announcements – and get ready to participate when the time comes!
Okay, Market Maker Whitelist details?
We’re thrilled to open the Whitelist for our Market Maker Rewards Program – start the integration process now via our API Docs. This represents an exciting step forward for us in enhancing liquidity and trading efficiency on IDEX. As we shared in our previous announcement, a portion of Market Maker rewards are being powered by our new ecosystem incentives strategy.
Here’s an overview by the numbers:
We’ll distribute approximately 75M $IDEX tokens over the first three years of the program.
Rewards will be distributed in 28-day epochs, with 1,923,076 IDEX tokens allocated per epoch.
Rewards can be claimed 1 week after an epoch ends, and 100% of the rewards are distributed. No vesting required.
A shortened Epoch 0 will occur during the Testnet period with 1M in real $IDEX token rewards. Think of it as a grace period to prove yourself with no stakes.
How are you guys measuring performance?
We’ll distribute rewards based on specific Key Performance Indicators (KPIs) that evaluate the quality and contribution of liquidity provided to the IDEX ecosystem.
Quality:
Assessment Frequency: Every (1) minute we take a snapshot of the order book and analyze the existing orders.
Assessment Criteria: Orders are scored based on their depth (larger is better) and spread (closer to TOB is better).
Uptime: Reliability also matters, so we credit wallets for every snapshot where they meet the minimum liquidity requirements.
Contribution:
Wallets are scored based on their share of maker volume from orders that have been on the books for more than 0.5 seconds.
The full formula is available in our docs for those who want to dig in further.
How do I track my performance?
You can track your progress in both the current and any previous epochs via the Market Maker Dashboard – with insights into your depth scores (as a raw score), uptime (as a percentage), plus maker volume and total market maker scores (as percentages relative to other participants). This gives you an opportunity to optimize your strategies to maximize rewards.
Let’s gooooo. Next steps?
For Market Makers, deep dive into the specifics in our Program Docs (with some real spiffy formulas for our fellow math nerds). Then integrate via our API Docs. For our general community, get whitelisted for Testnet via our Discord – and be the first in line to experience the new IDEX.
We can’t wait to share the new IDEX with you and hear what you think as launch looms. We believe both the Market Maker Rewards Program and very-near-future Testnet will contribute to what will undoubtedly be a vibrant, liquid and ultra-efficient trading environment that benefits everyone. As always, thanks for betting on us, GOATs.
And may the rewards be with you.
Questions? Comments? Hit us via our links below.
About IDEX
Established in 2017, IDEX has set the standard as the premier high-performance decentralized exchange. The platform combines the speed and efficiency of traditional trading systems with the transparency and security of blockchain technology to create an unparalleled trading experience. IDEX is built for all traders, providing instant execution, millisecond latency and gas-free settlement, while allowing users to maintain full control and custody of funds.
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