# π Trading Cycle

Trade & Earn

**Trade on Palmswap, earn free tokens. Itβs really that easy.**

`28.9%`

of the initial token supply (`289,000,000 PALM`

) will be distributed to users who trade on the Palmswap Protocol based on a combination of fees paid and open interest.

**Here's how Trading Cycles works:**

**Here's how Trading Cycles works:**

#### When will the first Trading Cycle start?

The first Trading Cycle will launch at the same time as Mainnet v1 in April.

**The following will happen at the end of Cycle 1:**

**1.** Cycle rewards will be distributed. Rewards can be viewed on Palmswap at "Portfolio".

**2.** Transfers from PALM will be restricted for the next **7 days** after completion of the cycle.

**3.** PALM can be withdrawn **7 days** afterwards under Trading Cycle in the back office.

**Is there a waiting period? When can rewards be transferred?**

The earned tokens can be transferred after a cycle is finished with a waiting period of **7 days.**

**Calculation of trading cycles**

**Calculation of trading cycles**

The following combination of fees paid and the position size determines the PALM rewards.

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