RISEx has kicked off Ignite: Season 1, its loyalty and ecosystem points program, following an invite-only beta phase that saw over $3 billion in total trading volume. This marks a significant milestone for the on-chain perpetuals exchange built on the high-speed RISE Chain.
Backed by Galaxy Ventures and Vitalik Buterin, RISEx operates as a fully on-chain platform designed to offer advanced perpetual trading. The beta period was instrumental in building both liquidity and user engagement. Over three months, the platform processed more than $3 billion in cumulative trading volume, managed open interest of $26 million, and locked $15 million in value, with over 15,000 registered users joining through a merit-based referral system.
The Ignite program is unique in its approach: it allocates 100% of RISE points strictly to RISEx participants, including traders, liquidity providers, and code integrators. With rewards concentrated within the exchange’s ecosystem, RISEx aims to drive activity directly where trading happens rather than dispersing incentives across unrelated areas.
Building Stability Before Rewards
Sam Battenally, CEO and co-founder of RISE Labs, emphasized the importance of solid infrastructure before launching incentives. He explained that the team prioritized stabilizing critical exchange features, such as reduce-only Good-Till-Canceled orders and deep liquidity, before rolling out the rewards program. This careful engineering approach means Ignite launches on a platform already performing at world-class levels, poised for growth.
This move coincides with a broader shift in crypto derivatives, where decentralized perpetuals are rapidly capturing market share from centralized exchanges. RISEx’s launch of its public rewards system signals readiness to expand globally and scale its user base.
This content is for informational purposes and does not constitute financial advice.
