Announcement
Introducing Secured Finance Points (SFP)
Quantifying Contributions for a Thriving Ecosystem Growth
Introduction
We are thrilled to announce the launch of our proprietary point system, Secured Finance Points (SFP), on June 19, 2024. This innovative system is designed to capture user activities and distribute reward tokens in a fair and incentivized manner, fostering the long-term growth of the Secured Finance protocol.
Secured Finance Points (SFP) are electronic points that measure the level of contributions from user activities within the Secured Finance Ecosystem. These points play a crucial role in determining rankings and calculating airdrop token rewards. For more detailed information, please refer to our official documentation.
Benefits of SFP
The SFP system offers enhanced flexibility in incentive design and structure, enabling us to guide user behavior more precisely. This approach ensures a robust market, sufficient liquidity, investor protection, and market integrity. The point system captures both offline activities and on-chain behaviors, allowing us to implement dual-marketing strategies to strongly incentivize users.
Point Incentives Structure
SFP incentives are crafted to support the growth of the Secured Finance Protocol, a decentralized, orderbook-based, P2P lending/borrowing, and global bond trading platform. To ensure sufficient liquidity throughout the trading lifecycle (Deposit -> Orders -> Positions), we focus on the following activities:
- Deposit: Our protocol accepts various cryptocurrencies (USDC, ETH, WBTC, FIL, iFIL, etc.) as collateral. Deposits are essential as they enable users to place lending or borrowing orders.
- Limit Orders: Orderbook liquidity is crucial. Without limit orders on the orderbook, users cannot execute trades, even if they are willing. We incentivize users to place limit orders to maintain a liquid and active market.
- Active Positions: Limit orders eventually become active positions once taken. To prevent users from placing orders at far-end prices just to earn points, we offer incentives that encourage placing limit orders at realistic prices, making them more likely to be taken.
- Referral: Client introductions are vital for acquiring loyal users. We offer substantial bonus points to both introducers and introducees. Referral links are available on our points dashboard.
Future Incentive Plans
The SFP Point System will evolve alongside protocol advancements. In the future, we will introduce new products and features such as pool-based stablecoins, synthetic tokens, and derivatives. The amount of SFP a user holds will represent their royalty to the protocol, and rankings may be used to grant special privileges and bonus rewards.
Conclusion
The introduction of Secured Finance Points marks a significant milestone in our journey to create a more dynamic and engaging DeFi ecosystem. By quantifying contributions and aligning incentives, we are paving the way for a more robust and participatory platform. Join us in this exciting new phase and help shape the future of decentralized finance.
Thank you for your ongoing support and commitment to Secured Finance.
