GMI Points

Overview

GMI Points represent the user's positive-sum participation in the burgeoning Gloop architecture. Points accrue based on a simple formula:

Total User's GMI Points = Staking Points + Referral Points

Points are never taken away. When claimed, they are translated from "earned" to "claimed." In other words, they ride forever. See the Calculations section below for specific examples. Any other questions not answered here might be in the Staking FAQs.

Staking Points

To be eligible for GMI Points, each user must have a minimum of 100 GMI staked. If this prerequisite is not met, the user does not earn points for their immediate stake or daily staking.

• Immediate Stake Points: User's earn one GMI Point for each GMI staked. These points are earned by the end of the stake function call. If the user stakes 1432.33 GMI, they earn 1432.33 GMI Points immediately.

• Daily Points: For each day GMI tokens are staked, the user earns 10% of the total amount staked. So if a user stakes 4,000 GMI for four days, they get 16,000 * 10% = 1,600 Points.

Referral Points

The GMI Referral Program enables users to increase their points by referring new stakers. In order to for a referrer to accrue points from their referral, the referral must stake a minimum of 100 GMI. If a staker has referred an account that has staked 99 GMI for 30 days, both users do not earn any points. Put simply, everyone in the referral chain must stake 100 or more GMI for everyone to get points.

• Direct Referral Staking Points: Whatever points the referral earns (immediate stake + daily staking points), the referrer also earns. So, if a referral stakes 2,000 GMI for two days, both the referral user and the referrer earn 2,400 Points.

• Secondary Referral Immediate Stake Points: Grand Referrers (referrer of the referrer) earn 25% of the new stake amount of the referrals' referrals. Grand Referrers do not get a bonus for number of days secondary referrals have staked. So, if a secondary referral stakes 4,000 GMI, then the Grand Referrer immediately earns 25% of that stake, which equals 1,000 Points.

Claiming Points

After the GMI Staking / Points Program ends, users can click/tap the "Claim Points" button on the Staking page to convert their accumulated points into non-transferrable GMI Points tokens. These tokens will be used for other stuff in the near future.

You must keep your amount of GMI stake over the minimum stake to claim your final amounts. You may unstake any time after you claim.

YEAH-YEAH-YEAH, BUT WHAT DO THE POINTS GET ME?

Come on. You know the score here.

Example Calculation #1 (w/ Staking and Unstaking)

User 1559 stakes 4,000 GMI for four days, then unstakes 2,000 for three days, then stakes 8,000 more for 30 days, until the end of the points program. No referrals.

4,000 GMI + (4,000 GMI * four days) + (2,000 GMI * three days) + (10,000 GMI * 30 days) = 326,000 GMI Points

Example Calculation #2 (with Referrals)

User 4484 stakes 3,500 GMI tokens. Five days later (or five 24-hour intervals later, to be more accurate), 4484 refers three other users to stake (Referrals A, B, and C). Each user stakes 2,000 GMI. One of these referrals (Referral C) refers one more additional user (Referral CC). This final user stakes 10,000 GMI. Five more days pass before the Points program ends. Each user claims their points.

The referral chains are:

User 4484 => Referral A

User 4484 => Referral B

User 4484 => Referral C => Referral CC

Let's first calculate points for Referral A and B, the simplest cases at the end of the chain:

2,000 GMI + (2,000 GMI * five days * 10%) = 3,000 Points each

Referral CC:

10,000 GMI + (10,000 GMI * five days * 10%) = 15,000 Points

Referral C:

(C's initial stake points + C's daily staking points + direct referral's [CC's] points)

2,000 GMI + (2,000 GMI * five days * 10%) + 15,000 points = 18,000 Points

User 4484:

(4484's initial stake points + 4484's daily staking points + direct referrals' points + 25% of secondary referral's initial stake)

3,500 GMI + (3,500 GMI * five days) + (2 * 3,000 points) + 25% * 10,000 GMI = 29,500 Points