GM Points Program

What are GM Points?

GM Points are a way to track users' USDC lending and borrowing activity. Users also earn Point boosts from staking GLOOP.

How can I start earning GM Points?

To start earning points, you must deposit and maintain a lending position of at least 100 USDC in the GM Lending Pool. For the duration of the Points Program, you will earn points for each USDC you lend and borrow, as long as you keep lending at least 100 USDC.

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.

To keep it simple, if you have 100 USDC or more deposited, you're golden.

What happens to my points if I withdraw completely?

Withdrawing completely will stop future GM Points accumulation. Your previously accumulated points remain stored in the Points contract, even after the Points Program is over.

How are points calculated?

Point accrual are based on the amount of USDC tokens you lend and borrow, your duration in the Pool, and how much GLOOP you've staked. See the Earning System page for formulas and examples.

What is a staking boost?

A staking boost is an increase in points earned proportional to the amount of GLOOP staked (up to the dollar value of the user's existing USDC lend and borrow positions. The longer a user stakes, the bigger the boost. See the Earning System page for formulas and examples.

How long do points accrue for?

Points accrue until the end of the GM Points Program. Look for the date in the Gloop socials.

How do I claim points?

You do not need to claim any points. They are being tracked and stored by the protocol.

Can I lose points once earned?

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

What’s the minimum deposit to earn Points?

You must have at least 100 USDC deposited in the Lending Pool to qualify for Points.

What are “floating Points”?

Floating Points are Points you’ve earned since your last transaction that aren’t yet stored on-chain. They get finalized/stored when you interact with the pool.

How can I check my Points during the program?

You can view your Points on the Leaderboard Page, which pulls from the Points and Staking contract’s stored values, calculates multipliers, and adds your floating (not yet stored) Points to the totals.

What happens if I withdraw my USDC before the Points Program is over?

If you withdraw under the minimum earning threshold (see above), your future Point accrual stops. You keep all Points already earned.

Does borrowing USDC also earn Points?

Yes. Both lenders and borrowers accumulate Points, but at different rates.

What is the Points program window?

It’s the fixed start and end time for the program. Only activity inside this window counts toward Points. Look for the dates in the Gloop socials.

Can the program dates or rates change once the program starts?

No. The contract blocks changes to program parameters once the Points Program is active.

What happens after the Points Program ends?

All users stop accruing points. A final snapshot is taken for airdrop and other reward considerations. The rest of the protocol remains under normal operation.

Can I see how many Points all users have earned?

The Leaderboard page shows the top users and how many points they have accrued. Also, the GM Points Contract tracks total lending and borrowing Points across the program, before multipliers have been added.

Do I get extra Points for staking GLOOP?

Yes, staking can increase your Points multipliers. See the Earning System page for formulas and examples.

What if I never interacted with the pool during the program?

If you didn’t lend or borrow USDC during the program window, you won’t earn GM Points. If you don't interact with the pool, you're gonna have a bad time.

Do Points have monetary value?

Not directly. Points are a scoring system, but they may be used for airdrops and other benefits in the future.

Need Other Help?

For additional support or questions, visit our community discord.