Term Points are Live

Now, you can track your participation and earn rewards for contributing.
July 9, 2024

Term is revolutionizing DeFi by bringing stability and certainty to on-chain borrowing and lending through fixed rates. Our innovative auction-based platform has already serviced over $100+ million in volume, consistently clearing millions weekly.

But to truly achieve our vision, we need an engaged community. That's where Term Points come in. Now, you can track your participation and earn rewards for contributing to the Term ecosystem. Let's explore how to maximize your Term Points and become a vital part of our future!

Earning Term Points

  1. Auction Points
    • Lending: When you offer liquidity through our auctions, you earn points based on the amount lent and the duration of the loan. The more you lend, the more points you accumulate.
    • Borrowing: Borrowers also earn points for borrowing in our auctions. Points are awarded based on the amount borrowed in auction and the duration of the loan terms.
    • Maximizing Auction Points: The points program is designed to reward users who demonstrate genuine engagement with the protocol. Here are 5 ways to maximize your Auction Points.
      • Price Discovery: Even tenders (bids to borrow or offers to lend) that are not ultimately assigned but are competitive will earn points.
      • Term Premium: Auction points for both lenders and borrowers are adjusted to reward participation in longer term loans.
      • Consistent Participation: Regular and consistent participation in Term Auctions increases your points.
      • Diverse Participation: Engage in a variety of auction markets to maximize points and earn bonus points.
      • Actionable Offers: Lenders earn points for offers that are not assigned but fall within a competitive range.
      • Efficient Allocation of Liquidity: Lenders receive multipliers for offering into auctions with greater supply/demand imbalances.
  1. Lending Points
    Lending points reward any users holding a Term loan (repoTokens). Points are measured based on the amount lent and the duration the loans are held.

  2. Invite Points
    Users earn 10% of any points earned by individuals they refer to the Term platform. This incentivizes users to bring in new participants and grow the Term Finance community.

  3. Migration Points
    Wallets with significant historical activity on other major lending protocols can unlock migration points by participating in three separate auctions on Term. This rewards experienced users for transitioning their activity to our platform.

  4. Other Points
    The Other Points category offers a fun way to earn points through various ad-hoc activities and community contributions. These points can be earned by participating in special games, competitions, and campaigns that occur periodically.

    Here are some ways you can earn Other Points:
    • Ad-Hoc Games and Competitions: Engage in seasonal or surprise games and competitions designed to challenge and entertain. 
    • Ad-Hoc Campaigns: Participate in special campaigns that might involve tasks such as social media activities, promotional events, or collaborative projects within the community.
    • Community Contributions: Earn points by making contributions to the Term Finance community. This could include creating educational content, helping new users, or contributing to discussions and development initiatives.
    • Badges, POAPs, and NFTs: Collect badges, Proof of Attendance Protocol (POAP) tokens, or NFTs by completing specific milestones or participating in community events.

Distributing Rewards

At the end of each reward cycle, your accumulated Term Points will qualify you for rewards. The rewards are structured to benefit users who are committed to the sustained growth of the protocol. The more points you have, the more rewards you’ll be eligible to receive. Stay active and engaged to maximize your rewards and benefit from the Term Finance ecosystem.

Building a Sustainable Rewards System: The Philosophy Behind Term Points

Our Term Points program isn't just about points; it's about fostering a thriving community around Term Finance. Here's the philosophy behind the program and how it aligns with our vision for the future:

  1. Rewarding Meaningful Engagement: We want to incentivize actions that benefit the entire ecosystem. This means encouraging activities that support efficient price discovery and facilitate fixed-rate lending, not just racking up points for the sake of it.
  2. Loyalty Matters: Consistent participation deserves recognition. Our program rewards users who consistently and actively engage with Term Finance, ensuring that the most loyal and committed community members are rewarded for their loyalty.
  3. Long-Term Alignment: We're building for the future, and we want you to be part of it. Our rewards program is designed for users who contribute to Term Finance's sustained growth, positioning them to benefit alongside the protocol's long-term success.
  4. Transparency and Fairness: We believe in clear communication. Points and rewards are primarily allocated based on on-chain activities, ensuring everyone understands how they're earned and distributed.
  5. Balance Equitable Engagement Against Risk of Abuse: We aim to create opportunities for engagement that are accessible to users of all economic means; while remaining vigilant in monitoring abuse that comes at the expense of the community and harms our core objectives. 

These principles are the foundation of our program today and will guide any adjustments in the future. We reserve the right to amend the points program to uphold the principles outlined above with an eye towards building a community-driven platform that rewards genuine participation that fuels the long-term success of Term Finance. Join the Term Points Program today, participate in auctions, and start earning rewards for your contributions to the ecosystem!