Exciting news for Satoshi Protocol users! We're thrilled to announce an update to the Leaderboard's Points system, giving you more ways to earn points and climb the leaderboard!Previously, you could only rack up Position Points only by borrowing SAT (x5). Now, you can also earn points based on the value of your deposited assets!
Here's a breakdown of the changes:
- Position Points (Old): Previously, Position Points were earned solely through borrowing SAT (borrowing amount x 5)
- Position Points (New🎉): Now you can earn points based on your total position activity! This includes borrowing amount (x5) plus the total value of your deposited collateral like BTC, stBTC, and wstBTC (weight: x1).
Weekly Snapshots: To ensure your points are accurate, both Position Points and Collateral Points are captured in a weekly snapshot taken every Saturday at 23:00 UTC+8.Example:
Weekly Snapshots: To ensure your points are accurate, Position Points are captured in a weekly snapshot taken every Saturday at 23:00 UTC+8.
Example:
- Let's say Alice deposits 1 BTC (worth $60,000) and borrows 10,000 SAT.
- Position Points (Old): 10,000 SAT * 5 = 50,000 Points
- Position Points (New): 10,000 SAT * 5 + $60,000 (BTC value) * 1 = 110,000 Points
Satoshi Protocol Referral Program
The Satoshi Protocol Referral Program is an initiative designed to incentivize users to promote and expand the Satoshi Protocol ecosystem.
By inviting new users to the platform and encouraging them to engage with its BTCFi offerings, participants can earn future rewards in the form of OSHI tokens, the native token of the Satoshi Protocol.
The Referral Program offers a comprehensive points system that incentivizes various user activities and contributions to the ecosystem. Here's a breakdown of the four types of points you can earn:
Position Points (Earned by Borrowing SAT x5 + Deposited Assets x1)
- Position Points are calculated by multiplying the amount of borrowed SAT by 5 and adding the total value of your deposited collateral assets (like BTC, stBTC, wstBTC) at a 1:1 weight ratio. (snapshot taken every Saturday at 11 PM UTC+8)
- As the name suggests, you earn Position Points by depositing assets and borrowing SAT, the stablecoin issued by Satoshi Protocol.
- This rewards users who actively participate in borrowing and utilizing SAT, as well as those who hold and utilize assets within the protocol.
Referral Points (Earned by Inviting New Users)
- Classic referral program style! You earn points by inviting new users to the platform and encouraging them to create positions (borrow SAT).
- The number of points earned is directly proportional to the amount of SAT borrowed by your invitees.
- You can enter a Referrer Address when creating positions to get 150 additional Referral Points.
- This rewards users for spreading awareness and growing the Satoshi Protocol user base.
Stability Pool Points (Earned by Contributing to Stability Pool)
- By depositing SAT into the Stability Pool, you contribute to the smooth functioning of the protocol and earn Stability Pool Points.
- You receive 5 points for every 1 SAT deposited at the time of the weekly snapshot (taken every Saturday at 11 PM UTC+8).
- This incentivizes users to participate in maintaining the stability of the protocol and earn rewards from liquidation events.
Important Notes:
- All points contribute to your overall score on the Referral Program leaderboard.
- Your Total Points = Position Points + Referral Points + Stability Pool Points.
- Points are not directly convertible to OSHI tokens but represent a proportional airdrop in the future.
- Maintaining an active position or sufficient deposits in the Stability Pool might be required to continue earning points (refer to program rules for specifics).
You can navigate to "Airdrop" in Satoshi Protocol app to check your points: Satoshi Protocol | Airdrop
Learn more about the Referral Program: Leaderboard — Referral ProgramDive deeper into Stability Points: Rewards Beyond Discount Bitcoin: Deposit SAT into Stability Pool to Earn Additional Points
Maximize Your Points, Climb the Leaderboard
With these new options, you have more ways to strategize and maximize your points. Remember, all points contribute to your overall score on the Referral Program leaderboard. So, start depositing, borrowing, and inviting friends to climb the ranks and unlock future rewards!
About Satoshi Protocol
Satoshi Protocol is a revolutionary "universal" stablecoin protocol backed by Bitcoin. It allows users to deposit BTC/stBTC as collateral to mint the stablecoin $SAT on both Bitcoin mainnet and multiple L2s.
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