MOON FESTIVAL Phase 2: Half Moon🌓 — Festival for High-Leverage Perp Traders

Aark Digital | Leverage Everything Perpetual DEX

4 min readMar 15, 2024

Aarkadians, we are thrilled to announce Phase 2 of Moon Festival — Call of the Wild Traders. This time, Aark is inviting On-Chain Perp Traders to the festival full of rewards and potential.

Let’s dive into the details!

Event Timeline: from Mar 18th 00:00 UTC until TBD
Airdrop Allocation: 10,000,000 esAARK.
*Convert 25% to $AARK by completing Bonus Quest. Full details are below.

Who Can Join

The Phase 2 airdrop is for High-Leverage Perp Traders with a certain cumulative trading volume and average leverage ratio above a certain level.

To be eligible, you must have traded at the following exchanges:

GMX V1 and V2, Gains Network, Kwenta, and MUX.

Important Note:

The eligibility check is no longer based on FCFS. You can complete it by visiting the Moon Festival page before the end of Phase 2.

How to Claim Your Airdrop

Ensure you are eligible for the airdrop with these simple steps:

Head to the Moon Festival page.
Connect your wallet.
Agree to the Rules & Policy.
Click the ‘Participation Now button’ on Phase 2.
If you meet the criteria, click the ‘Complete’ button. If unsuccessful, try using a different wallet.
Complete the Bonus Quest to receive 25% of your esAARK allocation in $AARK.
The actual airdrop claim will be available at TGE.
Go back to the Moon Festival page and click ‘Share Your Allocation’ to post your airdrop on Twitter. You will receive rewards.

Bonus Quests

After verifying your eligibility for each Phase's airdrops, you can join Bonus Quests below. Upon completing one of these, 25% of your esAARK* allocation will be converted to $AARK. Bonus Quests are either of the two:

Make at least $10,000 daily trading volume in the altcoin market from Classic Mode for 3 days. The volume resets every day at 00:00 UTC.
Provide LP to AALP with 0.2 stETH/rETH or 500 GM with a 2-month lock-up.

*Users can vest esAARK to earn $AARK.

Leaderboard Competition Now Open to All Users

Great News Aarkadians! The Leaderboard Competition is now open to everyone.

You do not need to complete the Moon Festival Quest to join the competition page.
Stack up points from various activities, reflected in real-time on the Leaderboard.
At the TGE, 2,500,000 $AARK + 7,500,000 esAARK will be distributed according to Total Points.
Trading Points are allocated only to Classic Mode volumes from the Altcoin Market to incentivize traders who contribute to liquidity in a volatile market.

For more details, please check out our Leaderboard Competition article.

Leaderboard and Points System:

Daily Moon Mode Trading Points: Trade in Moon Mode to earn points, which increase each day, from 100 on day 1 to 300 by day 7.
Bonus Quest Points: Completing Bonus Quest grants you 10,000 points.
Trading Points: Earn 10 points for every $100 traded on the Altcoin Market (MOON MODE volume excluded).
Moon Credit Points: Each Moon Credit awards you 10 points.
Referral Bonus: Points increase by %, based on the number of users you refer. The user referred must complete at least one Quest.

Points Formula:

The total points formula is (Quest Points + Trading Points + Moon Credit Points) * (1 + (Referred Users * 10) / 100). This innovative system ensures every activity on Aark contributes to your chance of winning.

🌛 Moon Credits: Your Stellar Boost

Exciting rewards to brave degens of MOON MODE. Claim what you deserve.

1 Moon Credit is instantly usable as a $1 margin for MOON MODE.

How to Earn: Earn a Moon Credit every 5 seconds, and each MOON MODE position is not liquidated.
How to Use: Use Moon Credit as your MOON MODE margin, up to 30% of your margin.

The table below shows the amount of Moon Credits you can earn from each market at the specific leverage ratio of your position.