The Primit Season 1, officially dubbed "On-Chain Perp Frenzy," has officially launched on the Avalanche network. This event features a whopping prize pool of 100,000 USDT, in AVAX, marking a significant milestone in on-chain perpetual trading incentives within the Avalanche ecosystem.

Details of the Incentive Structure

The event includes four reward mechanisms designed to engage users. The daily random user rewards pool is set at $7,000, with 20 users chosen daily, each having a minimum trading volume of $200, sharing a $500 prize. With 280 winning slots available over 14 days, the draws are executed automatically through a script, ensuring transparency.

For content creators active on social media, there is a Twitter contributor reward pool amounting to $5,200. Participants can earn between $300 and $500 for sharing high-quality tutorials and analyses related to Primit, using the #PrimitAvalanche hashtag. Human and automated reviews will determine the top contributors.

A hefty $50,000 is earmarked for a referral rebate mechanism. Each user receives a unique referral code, and after registering and trading with a minimum cumulative volume of $500, referred users will count towards the valid referral volume. This pool is then distributed proportionally based on performance.

The volume leaderboard offers an additional $37,800, rewarding the top 120 users based on cumulative trading volume post-event. The prize breakdown includes $4,000 for the top user and distributions down to $100 for the bottom tier.

Community Engagement and Future Vision

With Avalanche-related trading pairs receiving a 1.5x weighting, this initiative not only incentivizes trading but also boosts engagement with core assets of the Avalanche ecosystem. The team behind Primit emphasizes that this event is more than just a giveaway. According to their statement, "Season 1 is not a simple airdrop event. It’s a product stress test. We aim to prove that on-chain perpetual trading is ready to carry real, high-frequency, professional demand. Avalanche’s infrastructure makes this possible."

As the event runs from July 15 to July 28, traders are encouraged to participate actively, both for the rewards and to test their strategies on this emerging platform.

This material is informational and not financial advice.