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Learn more about the GhostMarket Trading Incentives Program
The Trading Incentives Program is a way to earn GhostMarket’s token ($GM) every time you but or sell NFTs on GhostMarket. The more you trade on GhostMarket, the more $GM you will receive.
Who is eligible? All wallets used on GhostMarket that have a minimum trading volume of US $10 (whether selling or buying), are eligible for the incentives distribution.
How many tokens are available in total? GhostMarket has up to 50 million tokens available as part of our general, ongoing community incentives distribution program, as outlined during our original token sale. Currently 5.555 $GM tokes are available for distribution per day. The amount of rewards you receive from purchasing or selling an NFT is based on the price the NFT sold for, as well as the total amount of NFT transactions per user, per day on each blockchain.
Which Chains are eligible? Currently the following chains are eligible for rewards distribution and claiming: Avalanche, BSC, Ethereum, Neo, and Polygon. Base and Phantasma are currently in the process of being added to the program.
All eligible chains are treated equally for the purposes of calculating the rewards for the program
Note: As a bonus trading NFTs with $GM as opposed to other currencies gives users an extra 20% in their daily rewards distribution.
How are the tokens I will receive calculated? Rewards are calculated daily and distributed or, “topped up”, weekly. Rewards are all based on global volume regardless of which chain you make transactions on. Buyers will share 50% of the tokens distributed, while sellers share the other 50%.
Let’s say the allocated rewards total is 1,000,000 $GM per week. Regardless of the chain you trade on, having 1% of GhostMarket’s global trading volume for a single week would give you 1% of the allocated reward for that week. In this case, that would be a total of 10,000 $GM in rewards.
We believe this the best way to allocate rewards in a fair way for all users, as it is based on actual volume percentages.
How does the rewards system work on a technical level? We have a powerful infrastructure committed to this program, with dedicated servers running the calculations and pushing the incentives weekly on each incentives smart contract (one deployed for each blockchain we are integrated with).
Everything is fully automated when it comes to calculation and distribution. Our team monitors all parameters, while making adjustments as needed. These include things like weekly allocation amount, extra bonuses, etc.
How can I view my rewards? On the Trading Incentives Page, you’ll find a detailed leaderboard. The leaderboard can be filtered by chain to show both weekly and all time rankings for all users across GhostMarket. You’re even able to share your leaderboard placement to social media with a customized graphic.
In addition to the actual rewards page, each NFT page has a live estimation of the rewards you would receive for buying or selling that specific NFT.
Note: This estimate is based on current values of the incentives program and might differ from what you will actually receive.
Why should I hold my $GM rewards?
There are a number of benefits to holding the $GM token, including:
- Open Offers and Collection Offers are only paid for with $GM (Neo Only)
- $GM Staking rewards
- Use $GM to advertise your NFT in special sections on GhostMarket
- Bounty programs for community moderation
- NFT drops from select artists, based on token holdings
- Reduced trading fees on GhostMarket (Based on total $GM held)
How do I Claim my Tokens?
Token calculations are made once per week. These rewards are then locked in the smart contracts (one per chain). Users can then claim what they have earned. If rewards are not claimed each week, they are accrued weekly until claimed (claiming claims 100% of what a wallet is due).
In order to claim your tokens click on the following link: https://ghostmarket.io/incentives/
Connect your wallet to find out how many tokens you have to claim.
Click claim, then those tokens will be transferred to your wallet. Tokens will accumulate until you claim them.
How will you address wash trading?
Wash trading has been a concern on other platforms and we take it seriously. As part of our weekly calculations, we will be assessing the highest performing wallets to ensure that they are not consistently trading between themselves. When we find misappropriations like this, we will exclude those wallets from the calculations. The GhostMarket Team reserves the right to make the final decision in whether a wallet is eligible to receive tokens earned.