Points Program

Live at mainnet launch. Exact point weights will be published the week of launch. This page documents the structure we’re designing, not a finalized ruleset. Expect adjustments during the program based on observed activity.

Points are the pre-token rewards layer. Every meaningful interaction with the protocol earns points. At Token Generation Event (TGE), accumulated points convert to $SPERP at a to-be-announced ratio.

The four earn lanes

We expect four lanes of point accrual. The mix is deliberate — rewarding both the capital side and the effort side of building a perpetual futures market.

1. Trading activity

The dominant lane. Points are earned per position opened, held, and closed:

Action	Points basis
Opening a position	Proportional to notional size × leverage
Holding through a live match	Time-weighted, with a live-match multiplier
Closing at a profit	Bonus multiplier for realized PnL
Taker trades	Base rate
Maker trades	Bonus multiplier (when limit orderbook ships)

The weighting encourages both volume and conviction: a trader who places small speculative positions earns fewer points per dollar than a trader with larger positions held through meaningful market events.

Wash trading protection. Opening and closing the same position rapidly (< 30 seconds) earns zero points. Repeated wash patterns disqualify the address from the program.

2. Liquidity provision

When permissionless LP deposits ship post-mainnet, depositing USDC into the global liquidity pool earns points proportional to:

USDC deposited × time held
Pool utilization — periods when more capital is backing active positions earn more than idle deposits
Market difficulty — thinner markets (player markets with wider confidence) earn a multiplier on the trading-fee share

LP rewards exist because SportsPerp’s vAMM component depends on pool depth. More USDC in the global pool → larger positions can open per-market without breaching the risk_floor → better price discovery → healthier markets. Rewarding LPs is rewarding the substrate.

3. Referrals (builder codes)

The on-chain builder code system lets any address register a referral code. Users who onboard via a code split some of their fees with the referrer.

Referral points:

Direct fees earned as the code owner → 1× points
Referred traders’ trading activity → 0.1× of their points credited to the referrer as well
Tier boosts — top referrers by volume get multipliers on their own trading activity

Builder codes are explicitly supported in the on-chain program — this isn’t an off-chain marketing layer, it’s a protocol primitive.

4. Ecosystem contributions

Discretionary allocation for contributions that build the protocol without trading:

Running a keeper — funding cranks, trigger execution, liquidations. Track record of on-time execution → points.
Running a monitoring node — redundant health checks for critical services.
Building integrations — SDK consumers, analytics dashboards, trading UIs, Discord/Telegram bots. Apps with tracked usage earn points proportional to the activity they drive.
Bug reports and security disclosures — see the Bug Bounty page.
Content and research — tutorials, strategy research, backtest reports that advance the ecosystem.

Ecosystem allocation is hand-curated by the team, not formula-driven. Transparency is maintained by publishing allocations quarterly.

Anti-farm rules

Points systems get gamed. Ours will be designed against it:

Wash trading protection (as above) — opens/closes within 30 seconds of each other earn zero.
Sybil resistance — accounts with identical signing patterns, shared funding sources, or correlated trading behavior can be clustered and have their points consolidated or zeroed.
Leverage × size caps per day — a hard cap on points earnable per day per address prevents single-session gaming.
Loss-free minimums — points require organic engagement, not just gross activity. An address that only opens positions and never closes them won’t earn meaningful points.

Enforcement is off-chain, transparent, and appealable — clearly-farming addresses are flagged, published, and given a window to respond before final allocation.

Example earning flow

A trader who:

Opens 5 long positions per week averaging 500 USDC at 3x leverage
Holds each position through a live match (on average)
Closes ~60% at small profits, ~40% at small losses
Refers 3 other traders who are moderately active

…across an 8-week pre-TGE window would accumulate points in the mid-five-figures range (illustrative, not committed). The exact point value at TGE converts proportionally to the community allocation.

Dashboard and transparency

A public dashboard (hosted on the main app) will show:

Your points balance across the four lanes.
Your rank on the global leaderboard.
The formulas — updated any time the weighting changes.
Public allocation ledger — post-launch, every point earned is derivable from on-chain activity. Anyone can audit the allocation.

Timing

Window	Status
Now (devnet)	No points. Devnet activity is voluntary — not tracked for rewards.
Mainnet launch	Points program activates. All trading, LP, referral, ecosystem activity from this moment counts.
TGE minus 1 month	Full tokenomics document published. Final conversion ratio announced.
TGE	Points freeze. Conversion window opens.
TGE + 30–60 days	Points redemption closes. Remaining $SPERP returns to community treasury.

Post-TGE structure

After the initial redemption window, the program will continue in some form — likely with $SPERP staking and fee-share replacing the “conversion” mechanic. The exact post-TGE structure will be published alongside full tokenomics.