Galaxy

Ignite

DeFi

Rewards

Singapore, Singapore, July 24th, 2026, Chainwire Backed by Galaxy Ventures and Vitalik Buterin, the ultra-high-performance perp DEX has officially launched its public rewards program.&nbsp;<a href="https://go.rise.trade/4fDO9nk" rel="noopener noreferrer nofollow">RISEx</a>, the fully on-chain perpetuals exchange built on the high-throughput <a href="https://go.rise.trade/4ht39qk" rel="noopener noreferrer nofollow">RISE Chain</a>, has officially launched Ignite: Season 1, its core loyalty and ecosystem points program. Following an invite-only beta phase that generated over $3 billion in cumulative trading volume, the program marks the next major step in RISEx's broader ecosystem rollout as the protocol builds toward long-term community ownership and future token distribution.Launch week concluded today with the distribution of the Season 0 retroactive points, recognizing the users who traded on a merit-based, invite-only venue with no guarantee of reward.The program also carries a claim no competing venue can make: 100% of RISE points are allocated to RISEx users, including traders, LPs, and builder code integrators. RISE is an exchange chain, and RISEx is its product. Rather than splitting rewards across a diffuse ecosystem, the entire network's incentive weight routes through the venue where activity actually happens.The launch arrives amidst a massive structural shift in crypto derivatives, with decentralized perpetuals rapidly devouring centralized venue market share. Following the successful live deployment of its core exchange infrastructure, including cross-asset netted-margining and native Real-World Asset (RWA) trading, the public opening of RISEx's rewards system marks the platform's formal transition into global scale and growth mode.Ecosystem Traction: By the NumbersPrior to opening public rewards, the RISEx closed beta cultivated organic, institutional-grade liquidity and deep user engagement over three months:<ul><li>$3 Billion+ in cumulative trading volume processed since genesis.</li><li>$26 Million+ in Open Interest (OI).</li><li>$15 Million+ in Total Value Locked (TVL).</li><li>15,000+ Registered users accumulated entirely through a merit-based referral network.</li></ul><img src="https://app.chainwire.org/storage/uploads/images/klUngEO_1784819505cWLdltqRjg.jpeg">Source: <a href="https://go.rise.trade/3TQVZCs" rel="noopener noreferrer nofollow">DUNE</a><blockquote>Product First, Incentives Second "Much to the frustration of our growth team, I was adamant that we would not launch an incentives program until our core exchange engine reached absolute stability," said Sam Battenally, CEO and co-founder of RISE Labs. "Too often, points programs are deployed prematurely to mask unfinished infrastructure or buy empty, temporary volume. We spent the last few months doing the hard engineering work instead by stabilizing core features like reduce-only GTC and bootstrapping deep, quality liquidity. If you are fueling the engine, it has to perform. Now that our core architecture is fully live, optimized, and performing at a world-class level, we are ready to scale."
</blockquote>Ignite Season 1 Structure &amp; TimelineIgnite runs according to a product roadmap, and that is RISEx's commitment to the RISE mission. As the exchange ships and reaches milestones, the season moves with it. AutoYield, Permissionless Portfolio Margin, and equity listings are all part of a larger vision to bring full-scale composable finance on-chain.This is a deliberate design choice. Rewards should track real product progress rather than a marketing calendar that forces a program to overspend early or thin rewards later, penalizing the early contributors and active traders who showed up first.<ul><li>Live Since: Week 1 of Ignite began on Monday, July 20, 2026, at 00:00 UTC.</li><li>Public Distribution: RISEx will distribute 200,000 points per week, settled every Tuesday, with the first weekly distribution on July 28, 2026, at 14:00 UTC.</li><li>Season Length: Ignite is expected to end no later than Q2 2027.</li><li>Allocation:100% of RISE points are allocated to RISEx users, including traders, LPs, and builder code integrators.</li></ul>Inside the Ignite MechanicsEngineered to reward genuine, long-term ecosystem participation over predatory Sybil farming and artificial wash trading, Ignite evaluates user contribution across multiple health metrics rather than volume alone.<ul><li>Multi-Layered Earning: Qualifying activity spans higher-order activity, total costs including fees, slippage and negative markouts, trading volume, and open interest and hold time.</li><li>Referral Rewards: Referrers earn an additional 10% of their referee's points.</li><li>Undisclosed Weightings: The exact methodology and weightings are not published. This protects the program from being gamed.</li><li>Affiliate Program: For those who qualify, the affiliate program offers additional incentives such as fee rebates, point boosts, and more.</li></ul>Institutional-Grade ArchitectureRISEx achieves centralized-exchange execution speeds with full self-custody by utilizing RISE Chain, an EVM-compatible Layer 2 network delivering unprecedented 5 Ggas/s throughput and 1-millisecond latency. Because the exchange and the underlying blockchain share the same state, users benefit from a fully on-chain orderbook where collateral and interconnected DeFi positions exist within a single, atomic execution environment.With the core perpetual exchange engine stabilized, the platform's mid-term product roadmap is shifting toward the launch of native EVM Spot trading, AutoYield, and Permissionless Portfolio Margin.Traders can clear the gate, check their retroactive allocations, and begin earning Season 1 points by visiting <a href="https://go.rise.trade/4fDO9nk" rel="noopener noreferrer nofollow">rise.trade</a>.About RISEx<a href="https://go.rise.trade/4fDO9nk" rel="noopener noreferrer nofollow">RISEx</a> is a fully on-chain perpetuals exchange built on RISE Chain. Delivering centralized-exchange execution speeds with full self-custody, RISEx features an on-chain orderbook that shares state and liquidity with the entire RISE DeFi ecosystem in a single transaction. RISEx offers institutional-grade crypto perpetuals with flexible collateral, with plans to expand into equities, forex, and commodities.About RISE Chain<a href="https://go.rise.trade/4ht39qk" rel="noopener noreferrer nofollow">RISE Chain</a> is a next-generation Ethereum Layer 2 purpose-built for high-performance DeFi, delivering 5 Ggas/s throughput and Web2-like latency via its proprietary Shreds architecture. Developed by RISE Labs, the network is backed by Galaxy Ventures, Vitalik Buterin, Finality Capital Partners, EtherFi, OrangeDAO, DACM, P2 Ventures, Stani Kulechov, and other leading digital asset investors. <h5>Contact</h5>Grigory Prelovskiy grigory@riselabs.xyz Disclaimer. This is a paid press release. CoinMarketCap does not recommend that any cryptocurrency (bitcoin, ethereum, custom asset) should be bought, sold or held. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

RISEx Launches 'Ignite' Season 1 Points Program, Following $3B in Volume During the Early Access Phase (24 Jul)

Chainwire

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