Introducing Prime Points!

Introducing Prime Points! Prime Points is a system that offers a quantifiable measure of a user’s contribution to the success of the Prime ecosystem. The accumulation of points is possible through three distinct avenues on Prime Protocol, with the potential for additional methods to earn points as the Prime ecosystem expands. This program is an extension of the previous Prime Early Adopter Program — all the points you’ve gained thus far will remain, but now there are more ways to earn!

Earning Points

On Prime, users have the opportunity to earn points by supplying liquidity, borrowing assets, and referring new users. While all points hold equal value, certain actions yield higher points compared to others. Each lending point corresponds to a borrowing point, yet the acquisition of 1 borrowing point requires less capital.

Deposit Points Accumulation Rate

• For every 1 dollar deposited, one point is gained per year.
• After your deposits are kept in the protocol for 1 week, points will start to accumulate at 2x the normal rate. This means that every dollar deposited for more than 1 week will earn 2 points per year.
• After your deposits are kept in the protocol for 2 weeks, points will start to accumulate at 3x the normal rate. This means that every dollar deposited for more than 2 weeks will earn 3 points per year.
• If you withdraw the rate of points accumulation on that market will be reset to 1x. Any points you gained up until this point will stay on the protocol. New deposits will earn the higher points accumulation after the thresholds are met again.

Borrowing Points

Borrowing plays a pivotal role in propelling the triumph of a liquidity protocol and fostering the growth of the DeFi ecosystem as a whole. Consequently, borrowers receive a greater number of points compared to lenders. Upon entering a borrow position, you will earn 3 points for every 1 dollar borrowed per year. Your accrual rate will also grow the longer you keep your borrow open, with the maximum accrual rate being 9 points per dollar borrowed after 2 weeks of your position being open.

Introducing Referrals!

Points can now also be acquired through referrals! Referring users are entitled to 10% of the points earned by their referred individuals. Notably, these points don’t diminish from the referred users’ balances, ensuring they continue to accumulate points at the stipulated rate.
*Note: Referrals are only recorded when you refer new users (users who haven’t previously deposited or borrowed)

Accessing Points and Referral Links

All points accumulated through the Prime Early Adopter Points system remain valid, but new rules for accumulating points, as explained above, will take effect from this point forward. To review your accumulated points and obtain your referral link, visit the brand new Points page today!