By Callum Looking back at the 2024-2025 farming cycle, the campaigns that produced good outcomes for participants had one thing in common: the activity being incentivized was something participants were going to do regardless. Hyperliquid traders were going to trade perps somewhere. Routing that activity through Hyperliquid’s infrastructure and accumulating points in the process was free optionality, not a cost. The HYPE allocation was upside on behavior that was already happening.
The campaigns that disappointed worked the other way. They asked participants to perform specific on-chain actions — bridge transactions, contract interactions, protocol deposits — that had no independent utility. The farming was the only reason to do any of it. When the allocations came in below expectations, there was nothing left. The fees were gone and the protocol wasn’t something anyone wanted to keep using.
The question to ask about any farming target in 2026 is which category it falls into.
Catapult Trade falls into the first one. It’s a trading platform. People use it to trade. The score accumulates from trading activity. For anyone who was going to trade short-session leveraged products somewhere, routing that activity through Catapult Trade costs nothing — the fee lands somewhere either way, and the Global Score accumulates on top.
The specifics: token confirmed in AMA, no formal announcement. Score live since December 2024. KuCoin Ventures backed the round in March 2026. TGE details unknown, allocation mechanics unknown. Normal uncertainty for a pre-TGE platform at this stage.
The leaderboard
Top 10 runs from 4M to 70M points. Four months of live scoring, no entrenched positions, pack still reachable. Score weighting heavily favors trading volume — the trader coefficient dominates the formula. Active trading is the efficient path for new entrants.
Leverage matters here: fees accrue on collateral, not notional. Up to 125x on Slow mode. Meaningful score accumulation doesn’t require large capital at risk, just consistent activity. Fee cost to reach competitive standing: low hundreds of dollars over several weeks.
Who should look at this
Traders already active on short-session platforms — the venue switch is the entire cost. Pure farmers running a deliberate calculation — the expected allocation needs to clear the fee burn. Against the current field of active farming targets with confirmed tokens and institutional backing, Catapult Trade has better fundamentals than most.
The window is open. The leaderboard is contestable. Both of those are temporary conditions.