OX Farming’s “trade to earn model”
In this explainer, we deep dive into what it exactly takes to get your 200% APY on OX Farming https://ox.fun/en/ox-farming. In short, you earn 200% APY on your deposited $OX by completing 3 daily trading missions.
We’ve tried these internally and also many traders have already been able to accomplish these missions. But we get it, it sounds like a lot. So let’s get into it so you can also get that juicy $OX APY.
Rules of Engagement:
- You MUST complete all 3 Missions to receive rewards
- The qualifying period to complete missions is 00:00–23:59 UTC daily
- Rewards will be automatically distributed to your OX.FUN account daily
- The eligible $OX balance for rewards is the lowest balance within the daily qualifying period
- You can complete the missions in any order
Mission 1: Your size is not size
Task: HODL a 1X or greater leveraged position
Description: Maintain an open position with a size equal to or greater than your deposited $OX. e.g. if your $OX balance is 1M $OX, hold a trade position of at least 1M $OX.
Mechanics: For a 1X leverage trade you must hold that position for the entire 24 hour period to complete the mission. Your position can be long or short on any listed pair on OX.FUN and can be comprised of multiple positions simultaneously.
Degen mode: For those who don’t want to hold a trade for the entire 24 hour period you can increase your size and leverage to reduce the amount of time you need to hold the have a trade position/s open.
Leverage options range between 0–10X on OX.FUN. In our example of a trader with an OX FUN balance of 1M $OX, you could take the following action to reduce the time requirements:
- Hold 2X leverage position/s for 12 hours
- Hold 4X leverage position/s for 6 hours
- Hold 8X leverage position/s for 3 hours
It’s important to note that trading on OX.FUN utilizes cross margin collateral. To ensure that you’re staying safe from liquidation, keep an eye on your margin ratio in the trading UI and ensure it stays below 100% otherwise your position/s will be liquidated.
Mission 2: Feed the Herd
Task: Bid on $OX Perps
Description: Place and maintain a bid (buy order) on the $OX/$USD perps pair.
Conditions:
- Bids must be placed and maintained within 5% of the bid price e.g. if the highest bid on $OX/$USD perps is $0.013 bids must not be below $0.01235
- Size of your bids must be at least 5% of your $OX balance e.g. if you’re holding 1M $OX on OX.FUN, your bids must be at least 50K $OX.
- If you bid the minimum amount of 5% of your balance your bid must be active for at least 12 hours in the 24 hour qualifying period (the qualifying period runs from 00:00 to 23:59 UTC daily)
Degen Mode: For those who don’t want to keep their bids placed for the full 12 hour period you can increase the size of your bids to reduce the amount of time you need to hold the bids for.
In our example of a trader with an OX.FUN balance of 1M $OX, you could take the following example actions to reduce the time requirements:
- Bid for 100K $OX for 6 hours
- Bid for 200K $OX for 3 hours
- Bid for 400K $OX for 1.5 hours
- Bid for 800K $OX for 45mins etc etc.
Given that we allow users to leverage up to 10X on their $OX balance if a user with a 1M $OX balance could place a bid of 10M $OX for 7.2 minutes to complete their daily mission to Feed the Herd!
Mission 3: Shepherd the Herd
Task: Trade perps on OX.FUN
Conditions:
- Trade any perps pairs (long or short)
- Your trade volume must be at least 20% relative to your $OX balance. E.g. if your $OX balance is 1M $OX you must trade at least 200,000 OX on perps within each 24 hour period.
- Trade volume target can be completed through making multiple smaller transactions or go degen mode and complete the target with a single trade at 0.2X leverage
BONUS: $MILK for losing trades
If you lose $OX by making losing trades, you’ll qualify for the daily $MILK airdrop. Trading has just become FUN again.
- Close a trade in profit: earn $OX
- Close a trade at a loss: receive $MILK
Get Social
To learn more about OX.FUN visit our socials:
Twitter: https://twitter.com/OXFUNHQ
Telegram: https://t.me/oxfun_official
