Odaily News According to official news, Reya Labs issued a statement that the incentive mechanism of the modular L2 project Reya Network is designed to reward project contributors in a fair way, covering three core concepts: Seasons, Ranks and XP. Seasons will last for several weeks. It is currently in the Season OG stage, starting with LGE, and will end on June 30, 2024, and Season 1 will start afterwards. Users can participate in three activities to obtain XP: trading, network staking, and recommendation; Ranks operate through ranking announcement events (RRE) and weekly ranking events. The benefit of this mechanism is that users will compete with other users with similar rankings every week, rather than competing with whale players on a wider list. The RRE for Season OG will be conducted on May 27. In addition, Reya Labs said that Reya DEX will be launched soon. Earlier news, Reya Network announced the launch of the liquidity generation activity (LGE) on the X platform. Users can pledge funds to Reya Network to support the launch of the network before trading goes online, and can accumulate XP. Early deposit users will receive a long-term bonus to the XP accumulation rate. Reya Network development company Reya Labs announced in March that it had completed a $10 million financing round, with participation from Coinbase Ventures, Wintermute, Fabric Ventures, Framework Ventures, Brevan Howard Digital, Amber Group, and Robot Ventures.