In recognition of the efforts of our loyal Omnifans in building OmniLending, we have established Lending Points as a way to track their contributions like supply and borrow actions for further rewards.

Besides, as OmniBTC serves two functions, OmniSwap and OmniLending, we have also introduced the OmniSwap Referral Point system, which is now in Epoch 2. For this part, you can get more than that, every transaction you make can also get points to claim USDC as every Epoch ends.

Explore more on our website, and now let’s see how it works specifically.

Points Mechanism

The system will take snapshots of user accounts every day. Users' points will be calculated as:

For example, when taking the snapshot, your assets on OmniLending are: Supply valued at $180, and borrow valued at $20. Then your points will be:

Points= 10* Log(0.01*200+1)=10*Log3=4.77 points.

If users make deposits for several days in a row, they will get bonus points. Here’s the rule form.

• From the moment the user makes a deposit, the continuous supply bonus begins.

• Points use an accumulating mechanism, which means your previous effort won’t go to waste.

※Actions like withdrawal/repayment are all allowed since we’ll calculate the points every day. But here are some details you should attach importance to:

If you withdraw your supply while the total supply is still higher than $100, then you’ll still have basic points but your continuous days will go to zero and start again.

If you withdraw your supply while the total supply is lower than 100, or your initial supply is less than 100, then you’ll both lose basic points and bonus points.

Testnet Gem Hunter

If you are an old user, then you may find out this point system is similar to Gem Hunter. Due to the adjustment of business, we changed the Gem Hunter into a point system, but all of your data in the testnet have been reserved.

Since it’s on the testnet, transactions are using the faucet, so we’re discounting the data by 5% and converting it into points.

Make sure you bind the same address to get your extra points.

If you have any problems, feel free to contact us in discord.

LINKS

Twitter: https://twitter.com/OmniBTC

Website: https://omnibtc.finance

Discord: https://discord.gg/Z2EzZcJ72x

Galxe: https://galxe.com/OmniBTC