OpenLeverage And Multichain Have Partnered
OpenLeverage and Multichain have partnered up since January 5. The collaboration with Multichain will see $OLE token bridged between EVM-compatible chains, implementing our multi-chain strategy. An optimized ecosystem is achieved with increased transactions and volume, mutually benefitting both Multichain and OpenLeverage.
To increase collaboration, Multichain created a trading pair on OpenLeverage:
- Multi – BNB
OpenLeverage is offering 300,000 OLE rewards for lending and margin trading Multi-BNB, which will be distributed as 200,000 OLE for the Trading Campaign and 100,000 OLE for the Lending Campaign.
The campaign will last for 7 days, from May 12, 2022, at 8 AM UTC to May 19, 2022, at 8 AM UTC.
Trade Early for More
Members who open positions with trading volume levels during the campaign will be awarded the corresponding OLE rewards.
They will calculate the trading volume of a single transaction, not the cumulative volume. If your transaction does not meet the minimum requirement, then you will not be rewarded.
At each phase, each address can receive a maximum of 3,000 OLE rewards before dilution through the activity. When users receive 3,000 OLE rewards, the address can still trade but will not earn extra rewards.
During the Trade Early for More Campaign, with each new day, the rewards will be reduced by 5%, meaning the earlier you trade, the more rewards you can earn.
The Trade Early for More Campaign will have a maximum of 200,000 OLE. When the number of rewards earned exceeds the rewards pool, all rewards will be diluted according to the formula below:
diluted rewards = undiluted reward * (200,000 / earned total reward)
For example: In the first phase, on Day 1, Alice makes a $1,000 trade and earns 108 OLE. On Day 2, she makes another $1,000 trade and earns 103 OLE. At the end of the Trade Early for More Campaign, the total prize pool generated 400,000 OLE. Using the formula above, Alice earned 100.5 OLE after dilution:
100.5 = (103 + 98) * (200,000/400,000)
Please note that volume count only includes opening positions, but not closing positions.
Lend to Get Rewards
During the campaign period, you can lend assets to the Multi — BNB pair and receive lending rewards based on the amount and length of lending:
The total reward for the lending campaign is 100,000 $OLE. The following formula will be used to calculate the reward for each user:
About Multichain
Multichain is the ultimate cross-chain router protocol for Web 3.0, with a rapidly-expanding family of chains and daily volumes of more than $100 million. Thousands of satisfied daily users and over $5 billion in total value locked (TVL) are testaments to its popularity and security.
About OpenLeverage
OpenLeverage, a permissionless lending and margin trading protocol, is deployed on Ethereum, the BNB Chain, and KCC, with future multi-chain deployments planned. The permissionless design of the protocol allows users to launch a leverage trading market for arbitrary trading pairs, integrating with the liquidity provided on decentralized exchanges.
