Karma, Discounts and Challenges

Today we’re releasing Kollider v0.5.0. This version includes an array of new services and features. The biggest addition to the Kollider feature set are Trading Challenges. Trading Challenges differ from Kollider’s trading competitions in that they don’t make users compete against each other but are self-contained. That is, completing a challenge does not result in a cash prize but rewards the user with Kollider Karma and collectable badges.

Kollider Karma is a platform native points system that allows users to receive trading fees discounts and unlock hidden Kollider features. Karma is awarded through the completion of challenges as well as paid as a 1 basis point (0.01%) cash back on trading fees. For example, if you make a 1,000,000 Sats trade and your taker fee is 0.075% then you’d would receive 1,000,000 * 0.00075 * 0.0001 = 0.075 Karma. You can check out the Karma discount structure here.

We have initialised our Challenges Engine with 4 challenges. Each of these challenges consist of 1–3 levels and carry a unique prize badge. All challenges have an expiry date at which point badges and the rewards they carry become unavailable. This way users will be constantly supplied with new challenges as well as it keeps the supply of badges limited.

We have also added a discount structure which you can find here. Discounts are given to users according to the amount of Karma they hold. Discounts reduce the trading fee if the user has to pay fees and increase the rebate if the user is being paid a rebate. Furthermore, there is a hard cap on the highest amount of rebate as well as lowest amount of fee a user can get without making any volume. For details on these hard caps see our docs.

More challenges and Karma perks will follow!

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