$ARB for CVI Traders

CVI
3 min readMay 30, 2023

Following the successful CVIP-006, we are thrilled to announce the launch of a transitory incentive program aimed at introducing more traders to CVI . As we gear up for the next big developments in CVI(The Hedging vault and the flagship product-line of the leveraged volatility tokens), we believe this program will be an excellent opportunity for traders to engage with our platform and experience the benefits it offers.

The GOVI DAO has recently received a generous contribution of 75K $ARB tokens from the Arbitrum foundation. We are allocating a portion of these tokens as incentives for the $CVI traders, providing an exciting opportunity for traders to earn rewards.

$ARB for CVI Traders

We have designed an incentive structure that includes two parallel raffles, offering a total amount of 7K $ARB tokens, starting from today, May 30th until June 30th. Let’s take a closer look at the details:

First Raffle — 3 Prizes, totaling 5K $ARB tokens

First raffle will have three winners.

The prizes awarded to the winners will be as follows:

  • 2.5K $ARB tokens for the first-place winner
  • 1.5K $ARB tokens for the second-place winner
  • 1K $ARB tokens for the third-place winner

Second raffle — 1 Prize, totaling 2K $ARB tokens

The second raffle will have one winner.

In this separate raffle, all five wallets with the highest volume will have an equal chance to win the single prize of 2K $ARB tokens.

Determining Your Chance to Win

Each participant’s chance of winning will be based on their aggregated trading volume of $CVI (swap/mint/burn), on both Sushiswap and on the CVI platform, ensuring a fair distribution of the rewards.

To keep the odds favorable for heavy traders while providing an opportunity for everyone to win, we have implemented the following logic, based on a volumeScore defined as follows:

If a trader’s volume is less than 10K, their volumeScore will be equal to their trading volume.

If a trader’s volume exceeds 10K, their volumeScore will be calculated as follows: 10K + (user’s volume — 10K) * 0.5.

Each trader’s chance to win will be determined by their volumeScore divided by the total volumeScore, ensuring that higher volumes contribute to greater chances of winning, with diminishing added chances for larger amounts.

Additional Guidelines

  • Only one prize will be granted per wallet, ensuring a fair distribution of rewards among participants.
  • In order to check your volume rank, search for your address in the following site: https://dune.com/dbustos20/crypto-volatility-index-user-ranking
  • A minimum volume of $500 per wallet is required in order to be included in the raffle. Wallets with a volume below $500 will be excluded.
  • This incentive program will last for one month, starting from today, providing enough time for traders to participate and qualify for the raffles.
  • To discourage multi-walleting, we will be conducting a second raffle in parallel, exclusively for the five wallets with the highest volume.
  • In this separate raffle, all five wallets will have an equal chance to win the single prize of 2K $ARB tokens.

We are confident that this incentive program will not only encourage more traders to explore CVI but also provide a fair and engaging opportunity for our existing community to be rewarded for their participation. The $ARB tokens received from the Arbitrum foundation will serve as a valuable catalyst for the growth and development of the CVI ecosystem.

Participate in the $ARB for CVI Traders program today and take advantage of this exciting opportunity. Stay tuned for further updates and developments as we continue to enhance the CVI platform for all our valued traders.

Happy trading and best of luck in the raffles!

We would like to invite everyone to join our vibrant community on our social channels. If you have any questions, our team & community are always on stand-by and eager to assist.

Website: https://cvi.finance

v3 Litepaper: https://cvi.finance/files/CVI.v3.Litepaper.pdf

GitBook: https://docs.cvi.finance/

Whitepaper: https://cvi.finance/cvi-white-paper.pdf

Twitter: https://twitter.com/official_CVI

Telegram (group): https://t.me/cviofficial

Telegram (channel): https://t.me/cvichannel

Discord: https://discord.gg/yuDsy7SM2H

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CVI

CVI is a decentralized volatility index for the crypto space