Primex Launches a Points-based Rewards Program With CoinList

In March, Primex launched its Onboarding Quest initiative, which enabled participants to earn points by completing easy tasks related to the protocol. However, it’s only the tip of the iceberg.

Launched in collaboration with CoinList, a second campaign is rolling out to community members today, offering them the chance to receive even more rewards through active participation and engagement. Unlike the Onboarding Quest, the Primex Contribute and Earn Rewards Campaign has the potential to provide a continuous source of points based on contestants’ activities and milestones.

Similarly to the Onboarding Quest, the points you collect during the Primex Contribute and Earn Rewards Campaign will also contribute to your position on the community Leaderboard. Thus, it is an excellent chance to claim the top spot!

On top of that, Primex has allocated 2% of the total PMX supply to the Contribute and Earn Rewards Campaign. So, the program offers an excellent chance for Primex and CoinList communities with the highest scores to gain Early Primex Token (ePMX) rewards based on their lending and trading activities.

This article will provide a comprehensive overview of the Primex Contribute and Earn Rewards Campaign, touching on the following key points:

• The Primex Contribute and Earn Rewards Campaign, as well as its purpose and goal
• The rewards for Traders
• The points Lenders can earn
• Tracking your progress throughout the program
• How to participate in the Contribute and Earn Rewards Campaign

What Is the Primex Contribute and Earn Rewards Campaign?

The Contribute and Earn Rewards Campaign is a program that seeks to foster Trader and Lender activity within the Primex ecosystem. Following the Onboarding Quest, the Contribute and Earn Rewards Campaign is designed to boost user engagement in the long run.

The Contribute and Earn Rewards Campaign will be live for 12 weeks in total and will take place in six different stages, with each lasting for 2 weeks. During each phase, participants will be able to earn points based on their lending and trading activities.

After the end of each phase, Primex takes a snapshot of participants’ earned points and on-chain activities. Allocating 2% of the total PMX supply to the Contribute and Earn Rewards Campaign, the protocol will select and distribute ePMX rewards to the top 200 participants of the round based on the points collected during the stage’s two-week timeline.

ePMX is the early, non-transferable version of the native Primex Token (PMX), which will be launched after Primex’s TGE later this year. At the token generation event, the protocol will replace ePMX with the fully functional PMX, offering holders the ability to exchange their ePMX for PMX.

To keep the competition fair, points will automatically reset after each stage. This way, existing participants and newcomers have an equal chance at competing for ePMX rewards.

Anyone with a supported crypto wallet and an internet connection is free to participate in the Contribute and Earn Rewards Campaign. However, it must be noted that certain jurisdictional limitations may apply to the competition as per CoinList’s Legal Disclosures page (e.g., participants must not be residents of the US, Canada, or countries currently under OFAC sanctions).

Before entering the competition, participants must also complete the Primex Onboarding Quest to become familiar with the protocol and how they can collect points during the program. Once joined, contestants can receive rewards by fulfilling the criteria related to each ecosystem role (Trader or Lender) and completing specific milestones (more on this later).

Participants can check their performance via the Achievements Page on the Primex website, where all the scores, activities, and other related statistics of contestants’ wallets are transparently displayed.

The higher the score, the better the chances are for participants to claim the top spots on the Leaderboard at the time of the snapshot. For that reason, the Contribute and Earn Rewards Campaign offers an excellent opportunity for Primex users to showcase their trading and lending skills in a friendly competition.

Program Timeline

*The Primex Finance team maintains the right to change the duration of rewards campaign phases at any time.

What Are the Rewards for the Contribute and Earn Rewards Campaign’s Participants?

The Primex Contribute and Earn Rewards Campaign offers participants points based on the role they undertake in the ecosystem, with separate rewards for Traders and Lenders.

Rewards for Traders

In the Contribute and Earn Rewards Campaign, Traders collect points based on the following criteria:

• Trading volume
• Trade count
• The types of trades
• Weekly activity maintenance

Trader Tiers

Traders can achieve different tiers based on the points they collect during the Contribute and Earn Rewards Campaign. As you can see in the above table, there are five different tiers (Bronze, Silver, Gold, Platinum, Diamond), with each requiring the user to accumulate a specific score to claim it.

Please note that, as the score is separate for different roles, only the points you earn as a Trader count into your Trader tier.

Trading Volume-Based Rewards

One way for Traders to earn points throughout the program is based on their Primex trading volume. During the campaign, you can receive rewards for two types of trades:

1. Margin Trades
2. Spot 1x Trades

Your volume for each trade type is calculated and rewarded individually, with a specific number of points earned after every $1,000 of trading volume in each respective category.

For example, suppose you have a cumulative trading volume of $46,000 spread across the two categories: $6,000 in Spot 1x Trades and $40,000 in Margin Trades. Consequently, you earn 375 points for Spot 1x Trades and 12,950 points for Margin Trades in total.

Cumulative Trading Volume-Based Milestone Rewards

For score calculations, the program takes your trading volume into account individually for each trade type and also cumulatively across all categories. Based on your cumulative volume, you can earn Volume Milestone Rewards (as shown in the above table).

So, suppose you have a cumulative trading volume of $50,000. In that case, you will be entitled to receive 850 points (100 for the $10,000 level, 250 for the $25,000 level, and 500 for the $50,000 level) without considering your volume’s distribution across different categories.

However, it is important to highlight that you can earn cumulative trading volume-based rewards only a single time for each milestone. For example, even if you have a volume of $20,000, you will receive 100 points only once for reaching the $10,000 level.

Trader Rewards for Position Openings and Limit Order Execution

You also earn rewards after each Margin and Spot 1X order you open on Primex.

However, please note that while Market Orders are counted as soon as you initiate the trade (create a new order), Limit Orders are only taken into account for point calculations once they have been already executed by Keepers.

The above measure has been introduced due to the nature of these trades. While Market Orders are executed instantly at the best available price, Limit Orders only get filled when the price of the asset pair reaches a certain value (the limit price) specified by the Trader.

For example, let’s say you have:

• 10 Margin Market Orders
• 5 Spot 1X Market Orders
• 4 Margin Limit Orders, but with only 2 executed by Keepers

In that case, you will earn 66 points, as your two unexecuted Margin Limit Orders are not considered for your rewards.

Trade Count-Based Milestone Rewards

Traders participating in the Contribute and Earn Rewards Campaign receive milestone rewards based on the number of their completed trades.

Like in the previous reward category, Market Orders are counted as soon as the Trader initiates the trade. On the other hand, Limit Orders are taken into account only after they get executed by Keepers. Moreover, Keeper executions triggered by Stop Loss or Take Profit orders or liquidation events (when the Trader’s position falls below the maintenance margin) are not included in Trade Count Milestone rewards.

Please note that you can collect points for each milestone only once. After completing 200 trades on Primex, you will get 750 points after each set of 100 trades above this level. This means that 500 trades will earn you a score of 5,330.

Weekly Bonus Points for Traders

Finally, Traders can earn weekly bonus points.

You receive 100 bonus points each time when you trade on Primex on at least five different days of the week.

Rewards for Lenders

Lenders can collect points during the Contribute and Earn Rewards Campaign based on the following criteria:

1. Daily rewards correlated with the provided liquidity
2. Lender milestones that reflect their total locked-in liquidity (TVL)

Lender Tiers

Like Traders, Lenders can achieve various tiers (Bronze, Silver, Gold, Platinum, Diamond) based on the points they accumulate throughout the campaign.

Lender Point Allocation

Lenders earn daily rewards based on the total amount of liquidity they supply to Primex Credit Buckets. The more assets they deposit to Buckets in total, the more points they will get per $1 worth of provided liquidity.

For example, while supplying $50,000 to Buckets will earn you 6,000 points (50,000 x 0.12) each day, depositing $200,000 of liquidity to Primex will grant you a daily score of 30,000 (200,000 x 0.15).

TVL-Based Lender Milestone Rewards

Lenders can earn additional milestone rewards based on their TVL (total value locked).

Points can only be earned once per milestone, and Lenders must maintain the required liquidity in the protocol for a period of at least one week to become eligible for the rewards.

Suppose you have $100,000 TVL on Primex. In case you maintain your liquidity for a week, you will then receive 1,910 points.

Important notes for Lenders

Lender points reset to zero after each phase. However, lenders do not have to withdraw and re-deposit their funds to continue earning points after each phase!

How to Track Your Progress?

You can track your Contribute and Earn Rewards Campaign and Onboarding Quest progress via the Achievements Page, where you will see the following details:

• The tier, wallet, trade count, volume, and points related to your trading activity
• The tier, wallet, provided liquidity (TVL), daily reward, and points related to your lending activity

To monitor your activities, please go to this page and connect your wallet. Remember you’ll need to sign the message displayed below.

Ensure you’re at the correct domain (https://achievements.primex.finance/achievements) and verify everything carefully to steer clear of fraudulent links and sites.

As mentioned earlier, Primex distributes ePMX rewards to the top 200 participants of each stage on a biweekly basis. At the same time, resetting points after each round ensures that the competition remains fair for every user. Thus, if you don’t get selected to the top 200 participants in a phase, you will get another chance to rank among the best-performing contestants in the next stage.

In the meantime, be sure to track your progress via the Achievements Page so you can see the points you have collected.

Participate in the Contribute and Earn Rewards Campaign

While the Onboarding Quest enabled Primex users to receive one-time rewards in exchange for their engagement, the Contribute and Earn Rewards Campaign offers community members a chance to collect points on a continuous basis based on their trading and lending activity.

Furthermore, the Contribute and Earn Rewards Campaign offers a unique opportunity for traders and lenders to put their trading and lending skills to the test and claim top spots on the bi-weekly snapshot.

On top of that, as Primex has allocated 2% of the ePMX supply to the campaign, the best-performing contestants have the opportunity to earn ePMX tokens based on their collected points.

Ready to start earning points? Head to the Contribute and Earn Rewards Campaign now!

Besides participating in the Contribute and Earn Rewards Campaign, you can collect extra rewards by joining the Primex Referral and Ambassador programs.