Cryptex is proud to announce that our collective efforts and commitment to fostering innovation and growth within the DeFi space has led to our DAO being recognized as a key player in the Arbitrum ecosystem. As part of this recognition, our DAO has been granted an allocation of 75,000 ARB tokens.
We propose to distribute 100% of these ARB tokens back to Cryptex and Arbitrum community members by rewarding the most active and engaged members of Cryptex v2 for the benefit of both ecosystems.
This proposal outlines a plan to use these ARB tokens to incentivize liquidity provisioning and reward traders within the Cryptex v2 protocol.
We propose allocating 37,500 ARB tokens to boost liquidity within the Cryptex v2 protocol, specifically for the DAOs Total Crypto Market Cap (TCAP) perpetual. These ARB tokens will be distributed over 60 days, similar to both previous and ongoing Cryptex LP incentive structures.
This initiative will strengthen the Cryptex ecosystem and reward those who actively contribute to the growth and sustainability of our platform. By encouraging more liquidity providers to join, we can enhance the trading experience for all users and maintain a strong, decentralized foundation for Cryptex.
ARB Back for Active Traders
The remaining 37,500 ARB tokens will reward traders on the Cryptex v2 protocol. Users trading TCAP and referring others to trade TCAP on v2 will receive a % of their maker/taker fees back in ARB based on a tier system. This ARB Back program will remain active until the allocated ARB tokens are exhausted.
By offering these rewards, we aim to give back to our active users and foster a sense of ownership and belonging within the Cryptex community. This initiative will incentivize more trading activity, ultimately contributing to our platform’s long-term growth and success.
Our Commitment to Decentralization and Empowerment
The Cryptex DAO is dedicated to upholding the principles of decentralization and ensuring that our community remains at the heart of our project. By utilizing the ARB token allocation in this manner, we hope to continue our commitment to rewarding those actively participating in the Cryptex and Arbitrum ecosystems and helping shape their future.
We look forward to your thoughts and feedback on this proposal as we continue to work together to build a thriving, decentralized platform for the benefit of all.
We wish to publicly thank the Arbitrum Foundation for these 75,000 ARB tokens and look forward to the community response of these initial protocol incentives.
You can vote on snapshot here: