Introducing GammaSwap Points
Overview
GammaSwap points are now live on app.gammaswap.com/points. The purpose of the point program is to directly measure how much a user has contributed to the GammaSwap protocol before token based incentives.
The intention is not to have this program open in perpetuity but rather to reward users before real token incentives are live.
The daily point snapshot happens every day at random times. If you open a loan and close it within a day, you may not receive any points.
Points can be earned in multiple ways as described in the sections below. Point farming is subject to change as new products appear or during temporary promotional periods.
Points
Users can earn points by providing liquidity, borrowing liquidity and referring new users (referrals will be live soon after launch). All points are treated equally but certain actions are more point efficient than others. For example, borrowing is 2x more point efficient than providing liquidity.
Lending Points
Users will earn 1 point per dollar of liquidity provided across all pools, subject to core team discretion. Snapshots happen daily and occur at random times to avoid mercenary point farming.
The longer you lend and the more liquidity you provide, the more points you will earn.
Borrowing points
In DeltaSwap, the first feeless swap DEX, liquidity providers earn fees solely from borrowers. Borrowing drives revenue for the protocol and lenders.
Borrowing is also riskier than providing liquidity since borrowers have to pay a funding rate to the lenders and have directional exposure in the Long and Short positions. Therefore, borrowers earn 2 points for each dollar of liquidity borrowed.
Referrals
Users can also earn points through referrals which will go live shortly after the introduction of the points program. Users who refer others will get 10% of the points the referred users earn. This includes any points the referred user may earn from their referrals. The more users referred from the users you invited, the more points you earn.
Retroactive Point Rewards
Point Airdrop
If you minted a Galxe NFT for the Alpha or Beta Testnet, you will have received an airdrop of 1,000 points and a multiplier of 1.5x on total points. For example, if you earn 100 lending points and 100 borrow points, then your total points would increase by 300 (200 * 1.5).
If you interacted with our Alpha Mainnet, you received an airdrop of 10,000 points and a multiplier of 2x on total points.
If you minted a Galxe NFT and participated in the Alpha Mainnet, you received an airdrop of 11,000 points (10,000 + 1,000) and a 3x multiplier on total points moving forward.
Point Multipliers
The multiplier from the Alpha Mainnet and Testnet NFTs will last in perpetuity and will apply to each daily point snapshot.
There will also be future multipliers that may last for a limited time to promote a partnership, attract liquidity for certain assets, etc.
Please stay tuned and turn on post notifications in X to be alerted of these promotions.
Leaderboard & Viewing Points
To view your points, navigate to app.gammaswap.com/points. If you opened a position but don’t see your points, wait until the next daily snapshot to see your points update.
In the “Your Points” section you can see your rank, lending points, borrow points, referrals (once they are live), total points and any active multiplier points.
There is also a leaderboard which shows the top 100 accounts in the GammaSwap points program. It is updated daily along with the points snapshot.
Terms
Point calculations are not static and the GammaSwap Labs team has the right to modify the terms of the program at any time.
Questions?
If you have any questions on the point program, please ask the team in Discord and we can point you in the right direction.
