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| id: points | ||
| title: Points | ||
| sidebar_position: 4 | ||
| --- | ||
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| ## What are Crypto Points? | ||
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| **Crypto points**, within the context of Nimbora Protocol, are digital units designed to incentivize and reward users for actively engaging with our platform. These points serve as a metric for off-chain measuring user activity and contribution within the Nimbora ecosystem, providing insights and rewards based on participation levels. | ||
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| ### Key Features of Crypto Points: | ||
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| 1. **Incentivization**: Crypto points encourage participation and engagement by rewarding users for their contributions to the Nimbora ecosystem. These contributions may include providing liquidity or promoting adoption. | ||
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| 2. **Utility**: Beyond their monetary value, crypto points offer utility within the Nimbora ecosystem. Users can utilize these tokens to access premium features and get for additional rewards. | ||
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| ### Types of Crypto Points: | ||
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| - **Borrow Points**: Earn points while using borrow strategies. | ||
| - **Earn Points**: Earn points while using earn strategies. | ||
| - **Rank Points**: Earn points based on your performance. | ||
| - **Referral Points**: Earn points by inviting your friends. | ||
| - **Social Points**: Earn points by engaging with the protocol (unactivated for now). | ||
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| ## How are on-chain points calculated? | ||
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| ### Borrow | ||
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| The borrow points are calculated based on the daily user collateral `ETH` deposited in all Liquity troves. We use the ETH median daily price fetched from Pragma oracles to calculate the pts. | ||
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| | Day | User’s daily ETH collateral balance | ETH price USD | earn pts | | ||
| | --- | --- | --- | --- | | ||
| | 1 | 1 | 3000 | 3000 | | ||
| | 2 | 0.5 | 3200 | 1600 | | ||
| | 3 | 0 | 2800 | 0 | | ||
| | / | total pts earn | | 4600 | | ||
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| ### Earn | ||
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| We employ a similar methodology to calculate the points for Yield DEX strategies. For instance, in the EtherFi strategy, we determine the points by converting the balance of `ETH`-equivalent yield-bearing tokens. The median daily price sourced from Pragma oracles is utilized in this calculation process. | ||
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| | Day | User’s daily ETH balance | ETH price (USD) | pts earn | | ||
| | --- | --- | --- | --- | | ||
| | 1 | 1 | 3000 | 3000 | | ||
| | 2 | 0.5 | 3200 | 1600 | | ||
| | 3 | 0.1 | 2800 | 280 | | ||
| | / | total pts earn | | 4880 | | ||
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| ### Referral | ||
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| Before calculating the referral pts for each user, a boost is applied to the on-chain users pts (borrow + earn). By default, the boost is `10%`, but some users who used partner links (boosted links) can receive a higher boost. | ||
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| The referral pts are calculated based on the referral relation between users. | ||
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| For example, we have this referral table: | ||
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| | parent | child | | ||
| | --- | --- | | ||
| | Alice | Bob | | ||
| | Alice | Carlo | | ||
| | Bob | Sarah | | ||
| | Carlo | Alex | | ||
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| and this is the daily pts per user | ||
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| | User | pts | | ||
| | --- | --- | | ||
| | Alice | 100 | | ||
| | Bob | 200 | | ||
| | Carlo | 300 | | ||
| | Sarah | 100 | | ||
| | Alex | 100 | | ||
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| First, we boost the users’ pts | ||
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| | User | pts | | ||
| | --- | --- | | ||
| | Alice | 100 | | ||
| | Bob | 200 | | ||
| | Carlo | 300 | | ||
| | Sarah | 100 | | ||
| | Alex | 100 | | ||
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| `referral pts = (User points * boost) + (10% Bob + 10% Carlo + 5% Sarah + 5% Alex)` | ||
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| Using the boosted pts we calculate the referral pts. | ||
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| - `Alice` receives: | ||
| - `10%` from `Bob` and `Carlo`direct child | ||
| - `5%` from `Sarah` and `Alex` first child of a direct child. | ||
| - `Bob` receives: | ||
| - `10%` from `Sarah` direct child | ||
| - `Carlo` receives: | ||
| - `10%` from `Alex` direct child | ||
| - `Sarah` and `Alex` receive nothing because they don’t have a child. | ||
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| The following table was calculated using boosted balances. | ||
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| | User | Alice | Bob | Carlo | Sarah | Alex | TOTAL | | ||
| | --- | --- | --- | --- | --- | --- | --- | | ||
| | Alice | - | 22 | 33 | 11 | 11 | 77 | | ||
| | Bob | - | - | - | 11 | - | 11 | | ||
| | Carlo | - | - | - | - | 11 | 11 | | ||
| | Sarah | - | - | - | - | - | - | | ||
| | Alex | - | - | - | - | - | - | | ||
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| ### Rank | ||
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| This is the user’s total pts | ||
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| | User | earn pts | borrow pts | referral pts | total pts | | ||
| | --- | --- | --- | --- | --- | | ||
| | Alice | 50 | 50 | 87 | 187 | | ||
| | Bob | 150 | 50 | 31 | 231 | | ||
| | Carlo | 100 | 200 | 41 | 341 | | ||
| | Sarah | 80 | 20 | 10 | 110 | | ||
| | Alex | 30 | 70 | 10 | 110 | | ||
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| Sort the users by total pts ( the following are only examples for more details about prod setup check this [[link](https://www.notion.so/Point-system-Tech-bbaba9b312f4402d842547bb4579a8e4?pvs=21)]) | ||
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| 1. The first receives 20% boost | ||
| 2. The second receives 15% boost | ||
| 3. The second receives 10% boost | ||
| 4. The second receives 5% boost | ||
| 5. The second receives 0% boost | ||
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| `Info: When users have the same pts the register timestamp is used to order them.` | ||
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| | Rank | user | total pts | rank pts | | ||
| | --- | --- | --- | --- | | ||
| | 1 | Carlo | 341 | 68 | | ||
| | 2 | Bob | 221 | 33 | | ||
| | 3 | Alice | 187 | 18 | | ||
| | 4 | Sarah | 110 | 5 | | ||
| | 5 | Alex | 110 | 0 | | ||
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| So, the total pts earn by each user during the last 24 hours: | ||
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| | Rank | total pts | rank pts | | ||
| | --- | --- | --- | | ||
| | 1 | 341 | 68 | | ||
| | 2 | 221 | 33 | | ||
| | 3 | 187 | 18 | | ||
| | 4 | 110 | 5 | | ||
| | 5 | 110 | 0 | | ||
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| ### Social | ||
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| TBD |
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