Promo vouchers & deposit match
The promo program gives traders USDC to trade with. The funds sit in a separate subaccount owned by the promo module. The trader can take out only the result, and only under the campaign's rules.
Voucher
- What it is. An amount of USDC in a separate subaccount that the trader trades. The campaign sets the leverage and the term.
- Trading. Through the
MsgPromo*messages: regular and conditional orders, brackets, ENTRY and TWAP, all as in a regular subaccount. Limit orders can be placed no further than 1% from the oracle price. - Taking profit. With
MsgClaimPromo, once the conditions are met:- the voucher is unlocked, meaning the fee turnover set by the campaign has been reached;
- there are no open positions.
- Expiry. Open positions are closed by force, and everything in the subaccount returns to the pool. Unclaimed profit is not kept, so it must be taken before the term ends.
Deposit match
The protocol adds its own amount (the match) to the trader's deposit at a ratio set by the campaign. The match counts as earned once trading volume on the promo subaccount reaches the campaign's threshold: a fixed one or a multiple of the match amount.
| Variant | Where the funds are | Payout if the match is earned | Payout if not earned |
|---|---|---|---|
Combined (MsgOpenDepositMatch) | Deposit and match in the promo subaccount | The whole result | The deposit, but no more than what is left |
Split (MsgActivateDepositMatch or automatically on a deposit) | Deposit in the trader's own subaccount, match in the promo subaccount | The whole result of the promo subaccount, if the deposit is still in place | The match returns to the pool; profit above it goes to the trader |
When the term ends, in the combined variant the protocol transfers to the trader what is due under this table. In the split variant the trader receives the result of the promo subaccount only if the match is earned and the deposit is still in place; otherwise everything in the promo subaccount returns to the pool. Profit above an unearned match must be withdrawn before the term ends.
Campaigns and budget
- Distributor. Campaigns are created and run by the distributor, an address appointed by governance. It also issues grants with
MsgGrantPromo. - Governance limits:
- a total program budget of 45,000 USDC;
- no more than 1,000 USDC per grant;
- campaign leverage up to 10x.
- One grant per campaign. A recipient can hold only one active voucher of a campaign. A deposit match can be received only once per campaign.
- No referrals or tiers. Trades of promo subaccounts produce no referral payouts and do not build volume for fee tiers.