TREE NEWS update: Arcus, the decentralized exchange built by the dYdX team on Robinhood Chain, launched its Season 1 points program on October 1, distributing a fixed 250,000 points weekly. In the first week, 9,659 addresses earned points on about $2.94 billion in volume, with a median of just 1.53 points and an average of 25.88. The top 100 addresses took 44.78% of the week’s points.
dYdX team’s Arcus opens Season 1 points; first week median just 1.53
The distribution skew is the story: with a median of just 1.53 points against an average of 25.88, and the top 100 addresses capturing nearly 45% of a week's allocation, the program's rewards are landing heavily with a small cohort rather than the broader base of participants. That matters because points programs function as a retention and liquidity-acquisition tool, and a long tail earning almost nothing may not stick around once the weekly incentive is the only reason to trade. Whether the concentration narrows in later weeks, or volume holds up without proportional rewards, is the open question.
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