GM Points

Is there a minimum USDC deposit amount to earn GM Points?

Yes, the minimum deposit amount to start earning points is 100 USDC. You must keep your deposit amount above the minimum in order to earn and claim points. You may withdraw at any time after you claim your points.

If you were above the minimum deposit for a time, then withdrew to go below, then deposited again to get above the minimum again, then you will be able to claim points for the time you were above the min deposit only. You also must be above the minimum deposit to earn point boosts from your referrals, who must likewise have above the minimum deposited to remain boost eligible.

So, to keep it simple, if everyone has 100 USDC or more deposited, you're golden.

How are points calculated?

Points are based on the amount of USDC tokens you lend and borrow in the lending pool, the duration in the pool, and the number of eligible referrals. See GM Points for formulas and examples.

Can I withdraw at any time?

Yes, as long as you have not borrowed or will keep your health factor above 1 after you withdraw, you can withdraw your tokens at any time. Enter the amount to be withdrawn and click the "Withdraw" button on the Lending page. You can deposit, withdraw, borrow, repay as many times as you want.

What happens to my points if I withdraw completely?

Withdrawing will stop future points accumulation for the withdrawal amount. Your accumulated points remain until you decide to claim them. Even then, they are moved to "claimed" points.

If you withdraw completely, your points will still remain as above, and you will still be able to claim points afterward.

How does the referral program work?

Refer new users to lend (at least 100 USDC) and borrow from the pool and earn additional point boosts with each referral you bring that has the min deposit. The maximum amount of referrals allowed per wallet is 10. See GM Points for formulas and examples.

Can an address be its own referrer so that users can game the Points system?

Nope.

How long do points accrue for?

Points accrue until the end of the GM Points Program, which will be determined at a later date. The current pointsEndTime set in the Gm Points contract is a placeholder and not the official end date for the Points Program.

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