RISEx, a fully on-chain perpetuals exchange built on the high-throughput RISE Chain, has officially launched Ignite: Season 1, its public loyalty and ecosystem points program. Backed by Galaxy Ventures and Ethereum co-founder Vitalik Buterin, the platform emerges from an invite-only beta phase that generated over $3 billion in cumulative trading volume.
The public reward system went live on July 20, 2026, with the first weekly distribution of 200,000 points scheduled for July 28. The season is expected to run until Q2 2027. Crucially, 100% of RISE points are allocated exclusively to RISEx users—including traders, liquidity providers, and code integrators—rather than being fragmented across a broader ecosystem. Season 0 retroactive points were also distributed to early participants who traded on the merit-based beta venue without any guarantee of reward.
The launch follows a period of intense engineering focus, according to CEO Sam Battenally, who insisted on stabilizing core infrastructure like reduce-only GTC orders and deep liquidity before introducing incentives. The closed beta accumulated $26 million+ in open interest, $15 million+ in total value locked, and over 15,000 registered users through a referral-only network.
Ignite rewards are designed to resist Sybil farming by using multi-layered metrics—including total costs, slippage, open interest, and hold time—rather than volume alone. Referrers earn 10% of their referees’ points, and an affiliate program offers additional fee rebates. The exchange runs on RISE Chain, an EVM-compatible Layer 2 delivering 5 Ggas/s throughput and 1-millisecond latency, enabling centralized-exchange speeds with full self-custody. The roadmap includes plans for spot trading, AutoYield, and permissionless portfolio margin.
