Introduction: The mrgn points system is now operational and accessible at app.marginfi.com/points. These points serve as a quantifiable measure of a user's contribution to the overall success of the mrgn ecosystem. While the current means of earning points involve lending, borrowing assets, and referring new users on mrgnlend, the evolving ecosystem may introduce additional methods in the future.
Point System Details: Users can accrue points on mrgnlend through lending, borrowing, and successful referrals. Although all points hold equal value, certain actions yield higher points, with 1 lending point being equivalent to 1 borrowing point. Notably, borrowing points can be earned with a comparatively lower capital investment.
Lending Points: Users with active deposits on marginfi have been accumulating points in the background. Each dollar lent corresponds to earning 1 point per day. The accumulation of points is directly proportional to the amount lent and the duration of the lending period. Currently, users with the longest-standing and highest deposits possess the most points, maintaining their lead unless surpassed by subsequent deposits.
Borrowing Points: Borrows play a pivotal role in the success of a lending protocol and, consequently, borrowers receive more points than lenders. Borrowing $1 results in earning 4 points per day. Additionally, the collateral used for borrowing contributes to lending points, enabling borrowers to earn points from both borrowing and lending activities.
Referral System: Points can also be obtained through the referral program. Referring users receive 10% of the points earned by their referred users without any reduction from the referred users' balance. This process extends to subsequent layers, with referring users earning 10% of the referral points earned by users they have referred. This cascading structure continues as more users refer additional individuals.
Checking Points and Referral Link: Points have been retroactively assigned for all past mrgnlend activities in accordance with the aforementioned rules. Users can review their points and obtain their referral link at app.marginfi.com/points.
You can use the following link to start earning your points: https://www.mfi.gg/refer/0579c60a-4f93-4a44-a175-e388d1bba346
