> For the complete documentation index, see [llms.txt](https://docs.thevolumeterminal.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.thevolumeterminal.com/getting-started/how-it-works.md).

# How It Works

Volume Terminal orchestrates a seamless loop between your exchange account, our tracking backend, and on-chain reward distribution. The process requires no capital deposit and takes only a few steps to configure.

```
                  ┌─────────────────────────────────┐
                  │      1. User Connects Wallet     │
                  └────────────────┬────────────────┘
                                   │
                                   ▼
                  ┌─────────────────────────────────┐
                  │    2. Link Exchange API Key     │
                  └────────────────┬────────────────┘
                                   │
                                   ▼
                  ┌─────────────────────────────────┐
                  │     3. Join Active Campaign     │
                  └────────────────┬────────────────┘
                                   │
                                   ▼
                  ┌─────────────────────────────────┐
                  │    4. Trade on Exchange / App   │
                  └────────────────┬────────────────┘
                                   │
                                   ▼
                  ┌─────────────────────────────────┐
                  │ 5. System Tracks Volume & Rank  │
                  └────────────────┬────────────────┘
                                   │
                                   ▼
                  ┌─────────────────────────────────┐
                  │  6. Rewards Settled On-Chain    │
                  └─────────────────────────────────┘
```

***

### Step 1: Connect Your Wallet

Your Web3 wallet (e.g., Phantom, MetaMask, Rabby, WalletConnect) acts as your account identity on Volume Terminal. It is also the destination address where your campaign rewards will be distributed on-chain.

<figure><img src="https://3824401264-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIIRTeaOf7MHX8ERLdMP2%2Fuploads%2Fl109rpap2UU8IJz5e0b5%2Fimage.png?alt=media&amp;token=87c3732c-04b7-4471-b37b-b626f5bf41ad" alt=""><figcaption></figcaption></figure>

### Step 2: Link Your Exchange API Keys

1. Go to <https://www.thevolumeterminal.com/profile> and connect the exchanges where there are competitions available.&#x20;

<figure><img src="https://3824401264-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIIRTeaOf7MHX8ERLdMP2%2Fuploads%2Ft9D1u9AGmlYDPJE31Dqu%2Fimage.png?alt=media&amp;token=e4cccfb4-16aa-4888-a566-5cc587673a01" alt=""><figcaption></figcaption></figure>

<figure><img src="https://3824401264-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIIRTeaOf7MHX8ERLdMP2%2Fuploads%2Ftg8WHWkpJvowpNRTQWfl%2Fimage.png?alt=media&amp;token=e8000df3-5391-4d7f-a1c3-e5780b85e271" alt=""><figcaption></figcaption></figure>

2. Generate a restricted API key on your preferred centralized exchange (such as Bybit, BingX, OKX, or Binance) and input the Public Key, Secret Key, and Passphrase (if required) into Volume Terminal.

* **Permissions Required**: Read only (to track orders and history). **Do not give any other API permissions for security reasons.**

<figure><img src="https://3824401264-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIIRTeaOf7MHX8ERLdMP2%2Fuploads%2FEjlfCSXVwW8hh2IWxZzP%2Fimage.png?alt=media&amp;token=2eac4702-fd59-4fa5-9ab5-f00419058902" alt=""><figcaption></figcaption></figure>

3. Enter the generated Public API Key and Private API Key into the Volume Terminal. ,

<figure><img src="https://3824401264-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIIRTeaOf7MHX8ERLdMP2%2Fuploads%2FMENSUvS2fUvaxhwFkeBq%2Fimage.png?alt=media&amp;token=d40fbee1-f190-4997-89f2-6a1838985e0a" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
For step-by-step instructions for your exchange, check the [API Key Setup page](/exchange-connections/api-key-setup.md).
{% endhint %}

### Step 3: Join a Campaign

Browse the campaign lobby to view active token pairs, reward pools, distribution rules, and timelines. Choose a campaign and click **Join Campaign** to register your linked exchange account.

<figure><img src="https://3824401264-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIIRTeaOf7MHX8ERLdMP2%2Fuploads%2FaBOmIfcvE5ue1W8d1AOm%2Fimage.png?alt=media&amp;token=b6adcc96-1d41-4367-aeb0-cded61e877d9" alt=""><figcaption></figcaption></figure>

### Step 4: Execute Trades

Once you have joined a campaign, you can execute trades on the designated pairs:

* **Via Exchange**: Trade directly on your exchange's native web interface, mobile app, or desktop terminal.

<figure><img src="https://3824401264-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIIRTeaOf7MHX8ERLdMP2%2Fuploads%2FUHKbUWiaorPMto6F8bzX%2Fimage.png?alt=media&amp;token=2a96b1d4-915b-4148-b7d9-c4e99aeb1626" alt=""><figcaption></figcaption></figure>

### Step 5: Real-Time Tracking & Volume Calculation

Our backend polls your exchange account's execution history via the API key.

* Every eligible trade is recorded.
* Trading volume is converted to USD value.
* Multipliers (if active) are applied to boost your volume score.
* Your ranking on the leaderboard is updated.

<figure><img src="https://3824401264-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIIRTeaOf7MHX8ERLdMP2%2Fuploads%2Fu2s0G3U4VVJIM8T4b20s%2Fimage.png?alt=media&amp;token=f7a1b6fa-d34d-4109-a7fa-1caec3b84119" alt=""><figcaption></figcaption></figure>

### Step 6: Epoch Settlement & Reward Distribution

Campaigns are structured around epochs (e.g., Daily, Weekly, or single campaign runs).

* At the end of each epoch, the snapshot determines final leaderboard ranks or volume shares.
* The system calculates the payout for each participant based on the campaign's distribution rules (e.g., Proportional Share vs. Ranked Tiers).
* Rewards are verified and sent directly to your connected Web3 wallet. Payouts are made in the campaign's specified reward token (e.g., USDT, USDC, or project tokens) on the designated blockchain network.


---

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