The much-anticipated Primit × Avalanche collaboration has officially launched its first season, dubbed "On-Chain Perp Frenzy," on the Avalanche network. With a total prize pool of $100,000 USDT equivalent in AVAX, this event marks a significant milestone in incentivizing perpetual trading within the Avalanche ecosystem.

Event Structure Breakdown

This initiative has multiple reward mechanisms, appealing to various participants in the trading community. Key elements include:

  • Daily Random User Rewards: A pool of $7,000 will be distributed among 20 lucky participants selected daily, each contributing a minimum of $200 in trading volume. Over the course of 14 days, 280 winners will share in these prizes.
  • Twitter Contributor Rewards: Content creators can earn up to $500 for sharing high-quality posts regarding Primit activity on Twitter/X with the hashtag #PrimitAvalanche, with a total pool of $5,200 up for grabs.
  • Referral Rebate Mechanism: Users receive a unique referral code to invite others. Those who generate at least $500 in trading volume qualify, allowing the $50,000 pool to be distributed relative to each user's effective referrals.
  • Volume Leaderboard: A total of $37,800 will be awarded to the top 120 traders based on their cumulative trade volumes. The top trader can secure $4,000, while those ranked 61-120 still receive a bonus of $100 each.

Additionally, trading in AVAX-related pairs or utilizing native gas will receive a 1.5x weighting, encouraging participation in Avalanche's core assets.

Response from the Founders

Primit's founders are clear about their goals. They emphasize that Season 1 is not merely an airdrop but rather a comprehensive stress test for their platform, validating the demand for on-chain perpetual trading at a professional level. According to a team representative, “We aim to prove that on-chain perpetual trading is ready to carry real, high-frequency, professional demand. Avalanche’s infrastructure makes this possible.”

The event runs from July 15 to July 28, inviting traders to partake in what could reshape their approach to on-chain trading incentives. With the increasing popularity of platforms like XRP and ongoing innovations in the sphere, this event has generated considerable buzz.

This article is for informational purposes only and does not constitute financial advice.