This deep dive is the first of a series of posts explaining in-depth the BKT Liquidity Mining Program. We will clarify each phase with as much detail as possible, but feel free to share your questions on our Telegram, email or other relevant channels. *
Now that you’ve read all the rules, prepared your Advanced Trade screen, taken note of your fee tier (you can check it here too!) and are ready and eager to be a part of all the liquidity in the system. While we wait, wanna know more about the first phase?
Phase 1: Points and trades
Each executed trade will count as one point, being multiplied by the Blocktaner’s fee tier at that moment. That way, it’s possible to trade in a deliberate and arbitrary manner – allowing for a pooling of resources that will affect the final prize: the long awaited distribution!
Example: James made 1,000 points, out of a total of 100,000 pooled by Blocktaners. At that moment, James is eligible for 1% of the bonus (1,000 divided by 100,000) – which, from 1,000,000 BKT, he can expect to receive 10,000 tokens.
Every point contributes to the Blocktaner’s participation in the liquidity pool - there’s no cut-off or a minimum amount to engage. Each and every trade will count as a percentage of the total, which can be greater or smaller. To sum it up – the total of points in the Pool is equal to the adding up of everyone’s points during each Epoch. Then, the rewards (of 1,000,000 BKT each epoch) will be distributed proportionally to the total of points accumulated in that Epoch.
Example: If the pool has accumulated a total of 5,000,000 points at the end of the Epoch, each point counts for 0,2 BKT. Say that one Blocktaner has individually 250,000 points – he will receive 50,000 BKT as a reward for his participation
There’s an interesting dynamic in play here – different strategies can bloom on each Epoch’s time frame. Each Blocktaner can pick different times to buy, sell, hold or think when to get more points, rising their position on the leaderboard near the finish line!
With the end of each phase approaching, tighter and tighter gets the race and the strategies. A participant could choose to do a lot of algo-trading in the last few hours, as an attempt to increase the size of his or her participation and climb up on the leaderboard. Others can try to create a safe pacing of trading, steadily adding points all Epoch long. Whatever strategy you pick, we always recommend good research, a lot of attention to the charts and some prior data to illuminate the way.
Now that you know how our next steps will be, it’s time to prepare! If you have any questions, be sure to address them to our Telegram, Discord, Twitter or Support channels. To participate in the program it is necessary that the user agrees to the terms and conditions and keep a minimum of 501 BKT along all program.
The higher the tier, higher your multiplier – and higher the participation in the pool!
Example: Caitlyn, in fee tier BKT 5, makes 10 trades – she gets 80 points. Alice is in fee tier BKT 3, and with 10 trades, her total amounts to 20 points.
Tutorial: Joining in the BKT Liquidity Mining Program
Before you even start to competitively trade, you need to agree with the terms and conditions of the promotion. You can check your fee tier on your profile, clicking (here), and your BKT balance (here). Remember that you need to have at least 501 BKT at all times, and make sure that your trading during each Epoch doesn’t lower your BKT under the minimum of 501.
This is the easy part: just trade! Algotrade, small values, arbitrage, buy and sell – if you’re moving, you’re participating, no matter which trading pair you choose because all order books are valid. Each point will be added to a collective pool and will represent a percentage of the monthly prize.
The calculation is simple:
Your points / total points by all users = % of 1,000,000 BKT!
The rules of each phase change, so you need to always keep an open eye to the official channels of communication and the graphics. Other Blocktaner’s participation can also change the leaderboard, which will also change the prize after.