# Demex Credits

## What are **Demex Credits?**

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The Demex Credits program is a rewards system designed for traders.&#x20;

Participants can earn a minimum of **10% rebate** in SWTH tokens from the fees they pay while trading on the Demex. These rewards are distributed every 28 days, known as an epoch or a season.

One Demex Credit is $1 in fees contributed to the protocol. Fees contributed to the protocol is calculated by [Trading fees](https://guide.dem.exchange/trade/fees/trading-fees) paid, minus [referral commissions](https://guide.dem.exchange/earn/referrals), and minus rebates.

Start trading perpetuals to take part today, and check your ranking on the Leaderboard [here](https://app.dem.exchange/rewards/carbon-credits).

### Duration

* Each trading epoch spans 28 days.
* The first epoch began on February 13, 2024, at 8 AM GMT.
* Currently, there is no set end date for this program.&#x20;

### Eligibility and Rewards Calculation

* This program applies only to trades made in the Demex Perpetual markets.
* At each epoch's start, 400,000 SWTH tokens seed the rewards pool.
* The rewards pool will increase to cover 25% of the total trading fees generated on the Demex chain during that epoch, capped to a maximum of 1,600,000 SWTH.
* The SWTH's value is based on its rolling 28-day time-weighted average price, calculated from the last trade price in the SWTH/USD pair.
* A trader's share of the rewards is proportional to the amount of trading fees they contributed to the Demex chain.
* Traders can monitor their credits and standings on the [Demex Credits leaderboard](https://app.dem.exchange/rewards/carbon-credits).

### Distribution of Rewards

* Rewards are transferred to an EVM smart contract one day after each epoch ends.
* Traders can claim their rewards using their EVM wallet (e.g., Metamask).
* Unclaimed rewards roll over and can be claimed in subsequent epochs.