Socket ARB Rush Guide

What is Socket ARB RUSH?

Socket is kicking off our second incentivized campaign for L2s by distributing 1M ARB to our Socket ecosystem!

Read here to learn more about the grant.

Here is the breakup of the rewards:

• 700K ARB will be available for users to claim based on the fees they pay while bridging. Users of any partner apps using Socket APIs, SDK, or Plugin will be eligible.
• 300K ARB will be available for users using SuperBridge/Supertoken bridging to Arbitrum and Orbit chains.

The program of this kicks off on 12th February at 1 PM UTC and ends on 31st March

Here is the list of partners participating in ARB Rush:

• Wallets include Metamask, Coinbase Wallet, Rainbow, Zapper, Zerion, Slingshot, Krystal Wallet, XDEFI Wallet, Omnidotapp, OneKey, Plasma Finance, Zeal and more.

• dApps, including Matcha, GMX, Looksrare, JonesDAO, Layer3, Premia, and more.

How does it work?

Every time you bridge to Arbitrum through one of Socket Ecosystem’s partners, you receive rewards worth 80% of your onboarding fees.

The reward calculation is:

Reward amount = 80% of Bridge fees + Source gas fees in USD (based on daily ARB price)

where Bridge fees = Source amount — Destination amount (in USD)

Example: For a $100 txn from Polygon to Arbitrum, if you paid $2.5 of onboarding fees (gas + bridge fee). You stand to earn rewards worth $2 in $ARB!

How to view my rewards?

All your transactions to Arbitrum will be recorded, and at the end of every month, you will be able to claim your $ARB rewards directly through https://socketscan.io/rewards

• Claimable Rewards refer to all $ARB rewards available to claim immediately.
• Pending Rewards are all $ARB that will be claimable in the upcoming cycle. There will be claim cycles every month-end.

Note: It takes at least an hour for Socketscan to reflect your updated reward amount after any transaction.

A step-by-step guide to claiming rewards

1. Head to https://socketscan.io/rewards & connect your wallet
2. You will see all ARB Rewards earned so far; parallelly, you will also see Pending rewards — that you can claim in the upcoming cycle.
3. Once you click on Claimable Rewards, the $ARB will be transferred to your wallet.
4. To Claim Pending Rewards, you will need to wait for an upcoming claiming cycle which is usually end of every month; these Pending Rewards will then become ‘Claimable Rewards’

If you need help claiming your Rewards, open a ticket here.

FAQs

1. How does the claim process work?
2. As users bridge to Arbitrum, they will accumulate Rewards in $ARB; this $ARB can be claimed at the end of the claim period, i.e. every month’s end.
3. What happens if I forget to claim my $ARB for a month?
4. Once you are past the claiming cycle of a month, you can claim the pending rewards whenever possible.
5. How do the fee rewards work?
6. The rewards are calculated on the total of gas spent & the underlying bridge fee.
7. Example: For a $100 txn from Polygon to Arbitrum, if you paid $2.5 of onboarding fees (gas + bridge fee). You stand to earn rewards worth $2.25 in ARB!
8. Is there a maximum cap of rewards that I can get?
9. Yes, you will be eligible for up to 100 ARB worth of rewards for every transaction