Lynx Perpetuals Season 3 Eligibility for Protocol Incentives

Governance Season 3 Eligibility
1

Protocol/Project Name:

  • Lynx

Protocol Overview:

  • Lynx is a gasless Perpetuals DEX that allows traders to gain exposure to various markets including crypto and forex, using any token as collateral. Lynx’s unique model eliminates price volatility risk from the collateral asset, allowing any asset - from governance tokens to memecoins - to be collateralized without additional liquidation risks. By integrating with Lynx, protocols offer their users the ability to retain their token holdings while still gaining exposure to other instruments or earning through liquidity provision.

MS Receiver Address:

  • Mode: 0xD11C970018F5B601Fa015357BeA4A5Ff3313767A
    Optimism: 0xD11C970018F5B601Fa015357BeA4A5Ff3313767A

Distribution Confirmation:

  • We confirm that we will use Merkl to distribute the incentives received.

Incentive Impact Statement:

  • Lynx will use Season III incentives to fuel $MODE trading competitions, rewarding the top weekly perpetual traders that used $MODE as collateral. Incentivizing traders to acquire and use $MODE on Lynx will drive trading volume, thereby also benefiting $MODE liquidity providers through increased trading fees. Additionally, the incentives can extend to support trading competitions for other Mode ecosystem tokens, such as Ionic’s $ION and other future partners.

    These competitions offer greater long-term benefits than the traditional model of streaming incentives to liquidity pools as it introduces users to Lynx’s unique perpetuals model, where price volatility in $MODE doesn’t impact positions; bringing this new use-case forward for $MODE will help foster long-term engagement amongst $MODE traders and liquidity providers, even after the trading competitions end.

Eligibility Criteria:

Additional Information

Roadmap:

  • In the next 2-3 weeks, Lynx will be introducing Forex trading as well as “Degen Mode” - a perpetuals trading mode offering up to 500x leverage. This will further expand the capabilities of $MODE for token holders. In addition, Lynx intends to integrate additional tokens from the Mode ecosystem as collateral options on Lynx.

Partnerships:

  • Lynx has integrated Ionic Money’s $ION token as a collateral option and built them a white-labeled perpetuals trading solution powered by their native token - viewable here. Lynx also worked closely with Mode Network to integrate $MODE as a collateral option and actively participates in their ongoing Perp Trading Competition.

Community Engagement

  • We will run Twitter campaigns to amplify active trading competitions and conduct co-marketing with our partners.

Contact Information: