All participating users can earn Position Points by creating positions or gain Referral Points by recommending others to use the Satoshi’s APP.
Both actions accumulate Points, which are displayed on the Leaderboard.
Total Points = Position Points + Referral PointsPlease note that Points are not equal to OSHI tokens; rather, they represent an opportunity to receive a proportional airdrop of OSHI tokens in the future. These Points do not conflict with the OSHI you earned from pre-mining.
Position Points
After creating a position, users can not only participate in pre-mining to earn OSHI directly but also accumulate Points at the same time. The accumulation of Position Points is based on the amount of SAT borrowed after creating a position.
Position Points = Borrowed SAT * 5Assuming a user deposits 1 BTC and borrows 5000 SAT, then the user’s Position Points should be
5,000 * 5 = 25,000 PointsPlease note that if, at the time of the snapshot, a position is not maintained to avoid liquidation or close position resulting in a borrowed amount of SAT being zero, then that score will not be counted towards the points rewards.
In other words, if the debt is 0 SAT at the snapshot time, that address “will not accumulate any Position Points.”
The snapshot is expected to take place between 30 to 60 days later but may be extended. The exact timing of the snapshot is not disclosed at this stage.
Referral Points
An address must have created a position to become a referrer; otherwise, if someone is invited and inputs that address, it will be invalid.
Once an address successfully becomes a referrer, meaning if someone else uses this address to create a position, it will earn Referral Points based on the amount of SAT the invitee borrows.
After Referral Points are accrued, they will not disappear regardless of whether the position is still open or has been liquidated.
For example, if Alice invites Bob to use Satoshi to create a position today and Bob borrows 1,000 SAT, Alice would receive 1,000 Referral Points.
Bob himself would earn an additional 150 Points, plus 5,000 Points for creating the position (1,000 * 5), with the actual outcome as follows :
Alice invite Bob, Bob borrow 1000 SAT
- Alice -
Referral Points : +1000
- Bob -
Referral Points : +150
Position Points : +5000Total Points : Examples
Let’s assume a user named Alice deposits BTC and borrows 1000 SAT without inviting any new users to create positions. In this scenario, her Total Points would be :
Position Points : 1000 * 5 = 5000
Referral Points : 0
Total Points : 5000 + 0 = 5000If Alice, while maintaining a loan of 1000 SAT, invites Bob to use Satoshi, and Bob borrows 2000 SAT, then the cumulative total would be:
Position Points : 1000 * 5 = 5000
Referral Points : +2000
Total Points : 5000 + 2000 = 7000As the invitee, Bob can also earn an extra 150 Referral Points. Adding to this his points for creating a position and borrowing 2000 SAT, his total would be :
Position Points : 2000 * 5 = 10000
Referral Points : +150
Total Points : 10000 + 150 = 10,150If, at the time of the snapshot, Bob’s position has been closed or liquidated, resulting in a borrowed SAT of 0, then his final actual Points would be:
Position Points : 0
Referral Points : +150
Total Points : 0 + 150 = 150Important Notes
- Points are not directly equivalent to OSHI tokens. In the future, they will be converted into OSHI airdrops on a proportional basis.
- Referrers must successfully create a position (borrow SAT) to generate their own referral link.
- Referrers cannot use their own referral link (address).
- Once a position has been successfully created, the entered referrer’s address cannot be changed.
- OAT and NFT are not immediately counted towards points at this stage, so they are unrelated to the current points on leaderboard. However, after the snapshot, NFT and OAT will affect the final scores on the Leaderboard.
About Satoshi Protocol
Satoshi Protocol is the first CDP protocol built on BEVM, users could deposit BTC as collateral to borrow stablecoin SAT. This serves as the cornerstone for BTCFi to unleash trillions worth of Bitcoin.
Website | Web APP | Twitter | Telegram | Discord | Docs | Blog
