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Points System
We recognize the critical role our community and users play in building and shaping the future of our platform. The community’s continued support and participation are invaluable to us, especially as we drive further innovation with Parallel. We are committed to ensuring all contributions to ParaSpace and Parallel is counted.
With the transition from ParaSpace to Parallel, a dual-point system will emerge with both ParaSpace and Parallel points. Parallel will have a new dashboard that tracks your historical activity on ParaSpace and new activity on Parallel.
With ParaSpace, users were rewarded for their historical contributions to the protocol, receiving points for the following activities:
- Borrowing and Lending
- Ape Staking Activities
- Marketplace Activities
Learn more about ParaSpace points:
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After Parallel goes online, your points in ParaSpace will be automatically counted into Parallel.
After migrating, users are being rewarded for their new contributions to the protocol, currently receiving points for the following activities:
- Borrowing and Lending
- Ape Staking Activities
- Marketplace Activities
And it doesn't stop there. There will be new ways to earn points as we continue to release our core products, including:
- Depositing assets on our L2
- Interacting with Parallel and other apps on the dashboard
- Referring new users
- And more!
Users who have previously earned points on ParaSpace but are not currently utilizing the platform can still claim their points. Any unclaimed points by December 31, 2023 will be forfeited.
The calculations for points encompass a number of factors spanning quantity, duration, activity, and more. These are the factors that are included in points calculations:
- 1.Sum per Day: The USD value of Supply, Borrow, BNPL, and Ape Staking
- 2.Fixed Points: From the 300% and 500% ParaSpace campaign boosts
- 3.Fixed Points: From the ParaSpace Vault NFT
- 4.Fixed Points: From the ParaX Medal NFT
Points will be distributed on a weekly basis.
Last modified 7d ago