RISEx Launches 'Ignite' Points Program After $3B Beta Volume

RISEx, a decentralized exchange for perpetual contracts, has officially launched its public rewards initiative, dubbed 'Ignite: Season 1'. The move follows a successful invite-only beta period that generated significant trading activity and is intended to expand the platform's ecosystem ahead of a potential future token distribution.

Beta Phase Performance

Prior to the public launch, RISEx operated a closed, three-month beta phase that accumulated substantial metrics without a formal incentives program. The company reported the following figures from this period:

• Over $3 billion in cumulative trading volume.
• More than $26 million in open interest (OI).
• Over $15 million in total value locked (TVL).
• A user base of more than 15,000 registered traders acquired through a referral network.

Program Structure and Strategy

The 'Ignite' program is designed to reward user activity on the platform, distributing 200,000 points weekly, with the first settlement scheduled for July 28, 2026. RISEx stated that 100% of the points are allocated to users, including traders, liquidity providers, and developers integrating with the protocol. The season is expected to conclude no later than the second quarter of 2027.

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Sam Battenally, CEO and co-founder of RISE Labs, emphasized a deliberate strategy of prioritizing technical stability over premature growth hacking. "Too often, points programs are deployed prematurely to mask unfinished infrastructure or buy empty, temporary volume," Battenally said. "Now that our core architecture is fully live, optimized, and performing... we are ready to scale."

Market Context and Anti-Gaming Measures

RISEx's expansion comes as decentralized derivatives platforms continue to compete for market share with centralized exchanges. The exchange is built on the RISE Chain, an EVM-compatible Layer 2 network backed by investors including Galaxy Ventures and Vitalik Buterin.

To encourage genuine participation, the Ignite program's mechanics evaluate user contributions based on multiple factors beyond simple trading volume, such as fees paid and open interest hold times. The company noted that the exact weightings of these factors are undisclosed to protect the system from being gamed by activities like wash trading or Sybil farming.