> For the complete documentation index, see [llms.txt](https://docs.mangrove.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.mangrove.exchange/mgv-incentives/ms2-program-closed.md).

# MS2 Program (closed)

MS2 (Mangrove Season 2), Mangrove's second Incentives Program is now closed. This program was on arbitrum from November 2024 to February 2025.

### Introduction

Mangrove’s incentive program rewards users for the effective trading volume they generate. Through a straightforward farming model, participants earn MGV tokens—Mangrove DAO’s governance token—for each dollar in trading volume which they generate (either as maker or taker). This document describes the process for calculating MGV token rewards.

The parameters affecting MGV’s yield may change over time, and any changes will be publicly announced regularly. At the beginning of each [epoch](/mgv-incentives/ms2-program-closed/epochs-and-updates.md)—spanning two weeks—the total amount of MGV available for claiming will be updated.

However, the principles behind the MGV incentives program are set.

Mangrove's incentive program is carefully designed to:

* Adjust Dynamically: By varying the [reward rate ](/mgv-incentives/ms2-program-closed/how-rewards-are-calculated/reward-rate-r.md)in response to changes in platform trading volume.
* [Encourage quality orders:](/mgv-incentives/ms2-program-closed/how-rewards-are-calculated/adjusted-volume-for-makers.md) By rewarding orders close to the market price.
* [Differentiate incentives by use cases](/mgv-incentives/ms2-program-closed/mgv-token-allocation-per-user-type.md): By allocating rewards differently among makers, takers, and Kandel's LPs, adjusting parameters as needed while keeping the core principles unchanged.

Note: MGV incentives are exclusively available for transactions on Arbitrum.


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