GM Points

What are GM Points?

GM Points are a way to track users' USDC lending and borrowing activity. Users also earn Point boosts from their number of referrals.

How can I start earning GM Points?

To start earning points, you must maintain a deposit position of at least 100 USDC in the Lending Pool. For the duration of the Points Program, each day you keep above this minimum amount, you will earn points.

You can also earn GM Points by borrowing, though the points earned per borrowed dollar are less than the points earned per lent dollar. This is to incentivize USDC liquidity. Current point rates can be found here.

Can I withdraw at any time and still earn GM Points?

You may withdraw your lent USDC at any time, but once you go below the minimum amount, you will stop earning 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, you would earn 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 you and your referrals each have 100 USDC or more deposited, you're golden.

What happens to my points if I withdraw completely?

Withdrawing completely will stop future Lending Points accumulation. Your previously accumulated points remain stored in the Points contract until you decide to claim them after the Points Program is over.

How are points calculated?

Points are based on the amount of USDC tokens you lend and borrow, your duration in the Pool, and your number of eligible referrals. See the Earning System page for formulas and examples.

How does the referral system work?

Users can designate a referrer (another user who referred them) on the Points Leaderboard page. The referrer can only be set once for each address and is permanently locked afterward.

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 address and point boosts are found here. See the Earning System page for formulas and examples.

What is a referral boost?

A referral boost is an increase in points earned for each additional eligible referral. Said another way, the referral boost acts as a multiplier for the total points a user earns when their referrals lend at least 100 USDC.

Is there a cap on referral boosts? Yes, the referral boost is capped by maxReferralBoost to prevent excessive boosts from numerous referrals. The current max boost is found here.

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

Nope.

What happens if I have no eligible referrals? If you have no eligible referrals (all have under 100 USDC deposited), your boost will default to the base value, meaning no extra points for referrals.

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.

How do I claim points?

You can only claim points once the program has ended. An end date will be announced in advance.

Can I lose points once earned?

No, once points are earned and stored, they remain. However, midday points may stop accruing if your balance falls below the minimum deposit.

Can the Admin pause the GM Points Program? Yes, the Admin may pause the Points contract in case of unforeseen circumstances or cheating concerns. However, as the Points contract is only dealing with representative points and not real funds, the only effect pausing has is that users will not be able to claim points.

Need Other Help?

For additional support or questions, visit our community discord.