Mantle Fee Rebate Pilot Program 🏁
Introducing a New Campaign Series under Mantle Missions
Introduction
KTX.Finance is excited to announce the launch of the Mantle Fee Rebate Pilot Program, designed to empower traders on the Mantle Network and enhance their trading experience. With a generous 20,000 $MNT budget allocated for this pilot campaign, the program aims to provide substantial fee rebates to participating users over the course of two weeks.
Criteria for Fee Rebates
Rebate Calculations & Cap
The fee rebate program will allocate a specific rebate cap to each wallet, ensuring that 75% of all trading fees incurred during the campaign duration are eligible for rebate. The rebate calculation will be based on the users’ actual fees spent, which is derived from the following formula:
User Actual Fees Spent = Position Fees - KTC Staking Rebates - Referral Rewards
Fee Rebate (in $MNT) = 75% * User Actual Fees Spent
There will be an implied cap of 100 $MNT rebated per wallet
Campaign Timeline: 1st May, UTC+0 0000hrs to 13th May 2024, UTC+0 2359hrs
Program Rules
1. Duration and Rebate Disbursement:
— The pilot program will run for two weeks, during which traders’ weekly fees will be meticulously tracked. After the conclusion of the campaign, the rebates in the form of MNT tokens will be disbursed to the eligible participants, albeit with a slight delay to allow the Mantle Foundation to review the data thoroughly.
2. Incremental Adjustment of Rebates:
— Initially, the pilot program will commence by offering a 75% rebate on traders’ actual fees, implying a take rate from 0.08% to 0.02% for traders. will be subject to adjustment as the program progresses, ensuring flexibility and fairness.
3. Prohibition of Wash Trading and Sybil-Attack Activities:
— To maintain the integrity of the program, the KTX team will remain vigilant against any wash trading or Sybil-attack-related activities. Any addresses found to be involved in such activities will be publicly disclosed and disqualified from receiving the rebates.
As we embark on this exciting trading campaign, KTX.Finance is committed to fostering a secure and equitable trading environment on the Mantle Network while providing sustainable long-term incentives to our valued traders. Seize the opportunity to enjoy fee discounts in Mantle Fee Rebate Pilot Program and stay tuned for more updates!
