⛏️Trade Mining Event: Season 1

Welcome to the Season 1 Trade Mining Event on the Catnip platform!

This event is designed to reward our top traders with CAT++ tokens. Participants will compete based on their trading volume, and the top 100 with the highest points will earn rewards from a total pool of 10 million CAT++ tokens. This is the first season of our Trade Mining event, with more seasons to come, so be sure to maximize your trading volume and participation!

Trade Mining S1

Event Duration:

From now until 30th October 23:59 (EST)

Total Rewards:

10 million CAT++ tokens

How to Participate

Earn points by trading on the Catnip platform during the event period. The more you trade, the more points you earn, and the higher your chances to rank among the top 100 participants and claim rewards.

How Points are Calculated:

Points are determined based on the volume of your trades on the Catnip platform, measured in CKB, multiplied by a multiplier. The formula for points is as follows:

Points = Volume of CKB traded × Multiplier

Multiplier Calculation:

The multiplier is based on the average holding amount of CAT++ or CAT++ LP in USD value during the event. The formula for calculating the multiplier is:

Multiplier = max(log(CAT++ value in USD + (CAT++ LP value in USD × 1.3)) - 1, 1)

Weighting:

• CAT++ LP has a 1.3x weight in USD.

• CAT++ has a 1.0x weight in USD.

By holding more CAT++ or CAT++ LP, you increase your multiplier, which in turn boosts your total points earned from trading.

Snapshots & Holding Period

The multiplier is determined by your average holding value of CAT++ and CAT++ LP over time. To ensure accuracy, periodic snapshots of your holdings will be taken throughout the event.

• If you sell or transfer your CAT++ or CAT++ LP tokens during the event, your multiplier will adjust accordingly over time.

• The final points will be determined based on the multiplier of the last snapshot taken before the event ends.

This means that the points shown on the leaderboard are not final until the event concludes. If your holding value changes, the final result will reflect those changes, even if your leaderboard position fluctuates during the event.

View Your Progress:

You can view your current points and ranking on the leaderboard by clicking the trophy button located on the main page of the Catnip platform. The leaderboard will be updated in real-time to reflect the top participants, but remember, final results will be adjusted based on the last snapshot!

Rewards Distribution

The Top 100 participants with the highest points by the end of the event will share the 10 million CAT++ tokens.

Reward Calculation:

The amount of CAT++ rewards each participant receives is determined by the following formula:

CAT++ Reward = (Points earned / Total points issued) × CAT++ in pool

Where:

• Points earned refers to the points you accumulated during the event.

• Total points issued refers to the total points accumulated by all participants.

• CAT++ in pool is the total pool of 10 million CAT++ tokens allocated for the event.

Example:

1. A user trades 1000 CKB on Catnip.

2. Their average holding value of CAT++ is $500 and CAT++ LP is $300 during the event.

3. The multiplier is calculated as:

   Multiplier = max(log(500 + (300 × 1.3)) - 1, 1) 
   = max(log(500 + 390) - 1, 1) 
   = max(log(890) - 1, 1) = 1.95

4. The final multiplier is then applied to their trading volume to calculate points.

5. If the user has earned 500 points and the total points issued by all participants is 50,000, their reward will be:

   CAT++ Reward = (500 / 50,000) × 10,000,000 = 100,000 CAT++

Start trading now to maximize your CAT++ and CAT++ LP holdings and earn your place among the top 100 traders. Keep in mind that your multiplier will change over time based on your holdings, and final results will be determined by the last snapshot taken during the event.

The more you trade, the more points you earn, and the higher your rewards will be!

Stay tuned for future seasons of the Trade Mining event and more opportunities to earn CAT++ tokens!