I have recently reviewed several reward rules for PERP DEX, and @ nadoHQ has made a change this week that is worth mentioning separately. Starting from Monday, August 10th, Nado Rewards has changed its rules. Previously, the platform's weekly trading volume had to reach the line first before the prize pool was opened; Now it's changed to release $50000 directly every Monday, without looking at the threshold. The remaining $50000 will be unlocked linearly after the weekly trading volume exceeds $1.05B, and reaching $2.45B is the upper limit of $100000 USDT0. Most people will focus on the fact that the threshold is gone. But for those who do hedging, what's really useful is the one below it—— Open Interest is also included in the eligibility criteria for rewards. In the past, when participating in this type of activity, the weight was only based on trading volume. You had to repeatedly open and close positions to accumulate volume, and the fees and slippage were all wasted. Now that the position is hanging, it has weight. This is almost tailor-made for delta neutral strategy. Doing DN was originally a matter of hanging on both sides and not moving. During that time, it was purely a cost, but now one side is being produced. My current approach is very simple: Nado opens one leg, another perc DEX opens the opposite equal leg, and delta is leveled. Nado eats the weekly prize pool and adds Nado Points, while on the other hand, it eats its own set of points. The cost is the difference between the bilateral handling fee and the bilateral fund rate, and the benefit is two sets of points plus a weekly settlement of USDT0. By the way, I would like to mention something that I think is undervalued: Nado is a unified margin account, and the assets deposited are both spot and contract compatible. As soon as you open your legs, you will know that the most time-consuming and error prone thing is never opening a position, but moving funds back and forth between several accounts. Having xStocks in hand can be cross linked to Ink and stored in Nado. There is an xPoints bonus for holding positions, and the same amount of money can also be used as contract margin. One principal is worth two sets of points. Nado is built on Ink, which is Kraken's L2. This does not mean that anyone is backing it up. The bottom layer is not just wild, and you need to read the contract and documents yourself before making a judgment. I mainly focus on these four risks myself: The fund rates on both sides have reversed, and the difference in rates directly eats up profits; The sliding point in Kaiping has more leg wear than estimated; When the unilateral market is intense and the margin is not enough, it is forced to level, and delta will break; The points and reward rules will be adjusted midway. So this is not without risk, it is to compress the net cost to near parity under the premise of controllable risk. Before starting, calculate the rate tables on both sides and the current fund rate yourself, and do not copy anyone's parameters. If you want to try, use my link: https://app.nado.xyz?join=h7b1gwk Settlement is done once a week, and at the end of the cycle, click on Claim on the Rewards page. USDT0 will be directly deposited into your wallet. Perp is leveraged, with positions and multiples controlled by oneself, DYOR。