Points — we all got ’em, we all want ’em, so what do we do with ‘em? I’ll tell ya
This write up addresses points as they relate to eETH only. With regards to ether.fan, points will continue to accrue in the same way they always have. Users will be able to swap the ETH in their fan, and associated Loyalty Points, directly from ether.fan to eETH come November 15th — there are a few technical lifts involved with this, so it may take a few weeks for this to display in the ether.fi dapp. Note that if you minted your fan < 6 months ago, you will still incur the burn fee with this swap. If you have any further questions, please see the Litepaper or our FAQ.
The day 1 users of ether.fi have been accumulating loyalty points in the protocol since the early adopter pool kicked off. We have come a long way since then, and with the launch of the protocols Liquid Restaking Token, eETH, set to come to life on November 15th, we want to set the record straight for all the points junkies 🚀
The tl;dr:
- All points in the ether.fi ecosystem, including points earned in EAP, ether.fan, and soon eETH, are identical. A point is a point.
- Points will be earned from protocol activity — staking ETH, LP’ing into DeFi protocols that we integrate with, referring frens, quests to L2’s, etc. etc.
- Points will play a role in decentralized governance. Stay tuned for more 👀
How do Loyalty Points accrue?
There will be many ways to earn points if you are active in the ecosystem. Our discord and socials will be busy with nuggets of information that will walk you through those sweet earning opportunities.
That being said, if you don’t have time to chase rewards from some of the deepest corners of Defi, we get it. If stake and chill is more your style, we got you covered too. Users who simply just stake in the ether.fi protocol accrue loyalty points. The amount of points earned is just a function of time ⏱ and stake 🥩. More stake + more time = more points.
Here is more detail on how they are calculated:
.001 ether earns 1 wei points per day
== 1 ether earns 1 kwei ( = 1000 wei) points per day
cap is 2⁴⁰-1 = 10¹² points (this one is for the whales 🐳)
If you don’t have any ether.fi assets in your wallet, eETH, weETH (wrapped ether.fi ETH), you won’t continue to earn any more points. If you add assets back to your wallet again, you magically begin to earn points again 😏 Simple stuff.
Do I ever lose Loyalty Points?
For eETH, No.
I heard EigenLayer was giving out points to native restakers, whats up with that?
First off, we are not aware of and we don’t discuss possible airdrops. That being said, EigenLayer is providing their own points for native stakers, and any benefit received from these points will be passed on to users 100% with no deductions.
The means of distributing these points will be provided closer to launch date. Stay tuned frens.
Random Quick Hits
- Points are non transferable and cannot be combined
- Points are associated to the wallet that the fan or eETH is minted from.
Note: Points rules are subject to change prior to our launch
