๐Ÿ”ถSecured Finance Points (SFP)

Quantifiable incentives designed to build and sustain a robust and active community

What is Secured Finance Points (SFP)?

SFP represents electronic points that reflect users' contributions to the Secured Finance Protocol. These points can be used for various purposes, such as determining a user's rank within the community or measuring their involvement and support when calculating rewards.

When is the SFP launch?

The point system pre-launch phase started on the Filecoin blockchain on June 19, 2024, at 12:00 AM (UTC). The global launch followed on June 28, 2024, at 12:00 AM (UTC), expanding to Ethereum, Arbitrum, Avalanche, and Polygon zkEVM. Here's the announcement on the Medium blog.

SFP and SFT

SFP is an electronic point without economic value and cannot be transferred. At TGE and periodically thereafter, SFP serves as a reference for community activities to determine the distribution of SFT rewards. The SFP to SFT ratio will be calculated and announced before each distribution. Initially, 1% of the total SFT supply is allocated for airdrops. This can increase to 2% if the protocol's TVL reaches $50M, and up to 3% if TVL reaches $100M.

Original contributors from early campaigns will be rewarded separately, such as through SFT, based on their contribution level, acknowledging their early support and participation in the ecosystem.

How to earn SFP?

Users can earn SFP through various activities within the Secured Finance Ecosystem, such as increasing TVL, providing order-book liquidity, and introducing new users. The easiest way to earn SFP points is by joining active quests featured on our dedicated Points Dashboard. Oftentimes, we feature specific quests with special incentive points via a dedicated Campaign page.

Points Dashboard Page

The Points Dashboard is designed to monitor earned points from various activities and quickly identify tasks for user contributions from active quests. Users can see their points, ranking, a referral link, and active quests on the dashboard.

Points Calculations

Secured Finance has introduced a points system to quantify and reward user contributions to the ecosystem's success. Points can be earned through five primary activities: Deposits, Limit Orders, Active Positions, Referrals, and Daily Login.

As new products and features are added, additional ways to earn points may also emerge. The points accumulated are directly tied to future airdrops.

Points are given by hourly observations, with fractional points rounded (0.4 -> 0, 0.5 -> 1).

1. Deposit Points:

Any user with current deposits on Secured Finance has been earning points. The more you deposit, the more points you earn. The longer you deposit, the more points you earn.

  • Earning Method: 1 point per $1 deposited per 24 hours.

2. Limit Order Points:

Limit orders provide liquidity to Secured Finance and improve market efficiency. Limit Order points are awarded based on the amount placed in the order book and its distance to the Mark Price.

  • Earning Method: Up to 2 points per $1 per 24 hours, based on the orderโ€™s proximity to the Mark Price.

  • Slippage Distance Adjustment: Orders within 2% of the Mark Price receive full points, while points decrease for orders placed further away, with no points awarded for orders beyond 15% from the Mark Price.

3. Active Position Points:

Active positions drive the growth of the Secured Finance ecosystem. Active Position points are awarded based on the amount and duration of positions held by users.

  • Earning Method: 2-3 points per $1 per 24 hours, based on duration of the position.

  • Duration Adjustment: Between 1-1.5, where 1 is for the minimum duration (0 years) and linearly increased by duration to 1.5 for the maximum duration (2 years).

4. Referral Points:

Users can earn points by referring new users. The referring user earns 15% of the points their referred users earn. Additionally, referred users receive a welcome bonus and a percentage increase in their points earnings.

  • Referrer Benefits: Earn 15% of the points earned by referred users.

  • New User Benefits:

    • 500 welcome points.

    • 5% bonus on all points earned.

5. Daily Login Points:

Users can earn 10 points daily by logging in, visiting, and connecting their wallet to our web application. Additional incentives may be rewarded for consecutive login days.

  • Earning Method: 10 points per day, visiting and connecting wallet to our web application.

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