🌟Points Program

Overview

The Edgeless points program is designed to acquire, retain, and encourage users to be active within the ecosystem. In order to incentivize users to try out the chain and new applications that launch, we have designed an innovative new points program specifically tailored to the Edgeless Chain. We break down the points program into four key components described in more detail below. In order to maintain fairness, we will not be disclosing the formulas used to calculate the points for each of the respective categories and we reserve the right to change the formula in the future.

TVL / New Users

New users will be given points for bridging assets to the chain. The amount of points given to users will be based on the value of assets being bridged and the time at which the assets were bridged. The earlier users bridge assets, the more points they will accumulate. In order to discourage manipulation, there will be a 50% penalty in TVL related points for users who bridge out of the ecosystem.

On-Chain Activity

Users will earn points on a daily basis for the number of on-chain activities that they perform. At certain points during the points campaign, there will be additional points that will be given out for using specific applications. This will often occur to encourage the bootstrapping of liquidity for various applications.

Volume

Users will earn points on a daily basis based on the amount of transaction volume they participate in on the network.

NFT Points Multiplier

On a weekly basis, users will be given the opportunity to mint an NFT that contains a points multiplier trait. The multiplier will range from 1x to 10x. In order to utilize the multiplier, the given NFT will need to be burned and the points multiplier will last for 7 days. NFTs can only be used once, and can only be used one at a time. Users can sell the NFTs or hold on to them to strategically use them when they think is best. In order to increase the likelihood of getting a higher multiplier, users can refer friends in order to increase the floor of the multiplier distribution by 0.1x