iZiSwap’s iPoints is now live on Mode Network
We’re excited to announce that iZiSwap’s iPoints feature is now available on the Mode network(https://izumi.finance/iPoints), with a significant upgrade. We’ve divided the original iPoints into iPoints and iPoints_LP to provide users with a seamless experience and fair allocation.
The upgraded iPoints system will continue to allocate 50% of the ecosystem’s potential future airdrops. iZiSwap users on Mode network will receive iPoints for every swap and liquidity position added to eligible pools.
What are iPoints & iPoints_LP
iPoints, in its full name “iZiSwap Points”, is a system introduced to measure users’ weight in receiving potential airdrop in the future. iZiSwap promises to share 50% of the token airdrop it receives from the whole Mode ecosystem in the future with all eligible users with “iPoints”. iPoints will be used to determine the weight of airdrop every eligible address shall receive. In brief, the more iPoints an address has, the more airdrop it will receive.
iPoints_LP is being used to track the contributions of liquidity to iZiSwap. This approach ensures a balanced alignment between iPoints and iPoints_LP. Considering the complexity of the model, it is challenging to establish precise alignment for these two types of activities within a single-point system. Implementing a two-points system allows us to assess the alignment retrospectively and make necessary adjustments to maintain fairness between users who contribute to liquidity and those who contribute to trading volume. We are thinking about iZUMians in the long run, so iPoints_LP will be a better choice.
The iPoints system comprises iPoints and iPoint_LP, which will equally share the total rewards. This means that iPoints and iPoint_LP will each receive 25% of the future ecosystem airdrop. Completing swaps on iZiSwap earns iPoints, while adding liquidity allocates iPoint_LP.
Notice: The iPoints on the Mode are independent of the iPoints on the other chains.
How to earn iPoints & iPoints_LP
iPoints: By completing the tasks, users will receive iPoints according to the relevant task level. The completion statuses will be snapshotted every Monday 00:00 UTC+8.
iPoints_LP: We calculate your position’s value when you provide liquidity, and this value only changes when you interact with our contract (such as removing liquidity or re-adding liquidity). We allocate iPoints_LP based on the LP position’s value and the time it was provided.
Swap Tasks:
- Swap value over 100 USD within the current week — 20 iPoints.
- Swap value over 1000 USD within the current week — 40 iPoints.
Above 2 tasks DO NOT require specific trading pairs other than ETH-WETH. The tasks will be reset every week.
Liquidity Tasks:
Provide liquidity to the following selected pools to earn iPoints_LP.
Pools: (currently)
USDC/USDT 0.05%
USDC/USDT 0.3%
WETH/USDT 0.3%
WETH/USDC 0.3%
WETH/M-BTC 0.3%
weETH/WETH 1.0%
M-BTC/USDC 0.3%
WETH/USDT 1.0%
Distribute rule:
For every $1000 of liquidity provided, we assign a coefficient of 1. Each hour of liquidity provision is also assigned a coefficient of 1. Coefficients are rounded to one decimal place.
iPoints_LP = Position coefficient * Duration coefficient
*For example, if a user provided a total position of $1500 and kept it for 10 hours, the user would receive 1.5 * 10 = 15 iPoints_LP.
iPoints_LP will be updated every hour.
Engage with iZiSwap and have a higher chance to receive more Mode ecosystem’s airdrops!
