Points

Traders on Kodiak Perps are eligible to earn Points. The utility of Points has not been announced.

Points can be viewed on the Leaderboard.

Methodology

Points are awarded according to the following formula:

points = broker_fee + 10% * referred_broker_fee

That is, points are directly proportional to net fees generated by a trader + 10% of the net fees generated by referred users:

broker_fee = maker_volume * (maker_fee_tier - maker_orderly_fee) + 
             taker_volume * (taker_fee_tier - taker_orderly_fee)

Example

• Bob does $5M of taker volume and $5M of maker volume. Bob's fee tier is 0.04% for taker and 0.013% for maker

• Bob refers Alice, who does $1M of taker volume at a 0.04% taker fee tier.

• Let's assume that the orderly fee (fee paid by Kodiak to access the Orderly infrastructure, which varies based on overall Kodiak Perps metrics) is 0 for maker, and 0.01% for taker

• Thus, Bob's points are equal to:

broker_fee = 5M * (0.013% - 0) + 5M * (0.04% - 0.01%) = 650 + 1500 = 2150
referred_broker_fee = 1M * (0.04% - 0.01%) = 300

points = 2150 * 10% * 300 = 2180

Trader with VIP fee tiers will be eligible for points based on the fees generated (and will thus require higher volumes to earn the same amount of points as smaller traders).