Transaction Mining Program
To build transaction volume on WhiteSwap , I propose that a transaction mining program be utilized. This we increase transaction volume and use dramatically , which is essential for the success of a DEX.
The transaction mining program will distribute WSE tokens as rewards on a weekly basis. The rewards are calculated based on two factors:
• A users trading volume from selected pairs (rank factor)
• The amount and length of staking of WSE tokens (weight factor)
In essence the more a user trades, the more WSE he or she get from the weekly rewards pool. The amount and how long one stake WSE, the heavier weight you get to multiple rewards.
Suggested initial pairs:
In summary, reward distribution is decided by trading rank, staking amount, and staking duration.
• Trading rank: higher trading volume in a round gives higher trading rank, e.g., user A/B/C’s trading volume are 10/100/1000 USD, their trading rank are 1/2/3.
• Staking amount: the amount of token in a staking pool, e.g., user A/B/C stakes 100/50/20 WSE in the staking pool
• Staking duration: the duration of token in a staking contract, e.g., user A/B/C’s staking duration is 46500 blocks ~= 1 week.
• Share of rewards = (trading_rank * staking_amount * staking_duration)
What do you guys think?