Cyan Points

The Cyan Points system is an innovative initiative designed to reward users for their positive engagement and contributions to the platform. By participating in borrowing activities, users can accumulate points, which serve as a testament to their good behavior, such as timely loan repayments. Additionally, the system incentivizes users to provide liquidity, rewarding those who stake cryptocurrency in the vaults, thus facilitating loan processes and taking on associated risks.

To ensure the system remains engaging and rewarding, Cyan will host various promotions throughout different seasons, aiming to consistently deliver value back to its users. It's important to note that Cyan Points should not be seen as a promise of future monetary gain or a commitment to any future token issuance by Cyan. Instead, these points offer a fun and interactive way for users to track their activities within the protocol, unlocking future benefits such as discounts, first-access privileges, voting rights, and other exclusive advantages.

Through the Cyan Points system, we aim to foster a community of responsible and proactive users, further enhancing the overall experience on our platform.

Unrealised vs. Realised Points in the Cyan Points System

In the Cyan Points system, user activities contribute to two types of points: unrealised points and realised points, each reflecting different stages of engagement and reward within the platform.

Unrealised Points

Unrealised points represent a provisional status of points that users accumulate based on their borrowing activities. These points are essentially "pending" and transition to realised points as users fulfill their loan repayment obligations. Should a user default on a loan, the unrealised points associated with that loan are forfeited, and the user's pool of realised points is deducted by the equivalent amount of unrealised points related to the defaulted loan. This mechanism ensures that points are a reflection of positive and responsible platform engagement.

Realised Points

Realised points are the culmination of a user's active and positive participation on the platform, reflecting the points that have been officially earned and secured. These points form the basis of a user's standing on the leadership board and determine their eligibility for various boosters. Realised points are an indicator of a user's successful interactions and financial responsibility within the Cyan ecosystem.

📘

Unrealised vs. Realised Points

The primary objective for users within this system is to maximize their accumulation of realised points. Achieving a high balance of realised points on a weekly basis not only enhances a user's status within the community but also unlocks the potential for earning additional boosters and rewards, driving a cycle of positive engagement and community contribution.

How points are earned

Here are the various ways to earn points. More ways are being added as the season progresses, please leave us feedback and ideas to implement!

OG Points

To honor the loyalty and early support of its users, Cyan is introducing OG Points, a one-time retroactive reward for those who engaged with the platform before the start of Season 1. This initiative recognizes and appreciates the foundational role these early adopters have played in shaping the community.

Lender Points

Lender Points are allocated to users who contribute to the platform by lending their assets. The number of points awarded is calculated based on the duration and size of the loan provided. This method encourages and rewards the critical role lenders play in the ecosystem, ensuring liquidity and supporting borrower needs. To start, each CV token earns 100 points per day, with USDC-denominated vaults being adjusted with the current ETHUSD rate.

Borrower Points

Borrower Points play a crucial role in promoting responsible borrowing and timely repayments. These points are awarded upon the successful completion of loan repayments, with a formula designed to reward users progressively. The calculation of points is based on a multiplier effect, where the multiplier increases by 0.25 for each additional payment made beyond the first, calculated as 1 + 0.25 * (totalNumberOfPayments - 1). This means that the total points a borrower earns are a product of the loaned amount in Ethereum (ETH) multiplied by this multiplier, incentivizing not just repayment, but also the frequency of repayments.

To further encourage responsible financial behavior, Cyan introduces an added incentive for early loan completion. Should a borrower settle their loan ahead of the scheduled term, their points for that loan are doubled, effectively multiplying the reward for proactive financial management. This policy not only rewards users for their diligence and punctuality in repaying loans but also aligns their interests with the platform’s goals of fostering a committed and financially sound community.

Through this structured approach, Borrower Points underscore the value Cyan places on active participation and financial responsibility. By rewarding borrowers with a clear, calculable benefit for each repayment and offering significant bonuses for early completion, Cyan motivates users to engage more deeply with the platform, enhancing the overall ecosystem's health and vibrancy.

Referral Points

Users accumulate unreleased points each time they successfully refer a new user to the platform. These points receive a significant boost when the referred user initiates a new loan. However, to ensure fairness and integrity within the system, points may be adjusted or nullified if the referral program is exploited.

ApeStaking Boosters

In an innovative move to integrate with the broader cryptocurrency ecosystem, points are allocated based on the amount of $APE earned by users through staking. For instance, earning 1 $APE might equate to 1 point. This approach not only rewards users for their investment in staking but also encourages deeper engagement with the crypto market.

Setup Points

Cyan values a connected and informed community. Users who take the step to link their email, Discord, and Telegram accounts with their Cyan profile are rewarded with Setup Points. This initiative is designed to enhance communication, ensure users stay informed about their investments, and foster a more cohesive community.

Leadership Points

Recognizing the influence and contribution of its top users, Cyan awards Leadership Points, which come with boosters to accelerate point accumulation. This system is dynamic, with the potential for adjustments throughout the season to reflect the evolving contributions of leading users. Leadership Points underscore the value Cyan places on community engagement and leadership within the platform. Boosters are allocated to realised points every week after a snapshot is taken every Monday morning Asia time. The top ten users on the leaderboard get a 2.5x boost to realised points, the next 15 receive a 1.5x boost, and the following 25 users get a 1.25x boost.

Tracking Points

Monitoring your points is straightforward via the Cyan Points dashboard. Here, you can view your weekly points breakdown, distinguishing between unrealised and realised points. Additionally, the dashboard displays your weekly ranking and the booster you're currently benefiting from. In the top right corner, you'll find a tally of your total realised points accumulated over your lifetime on the platform.

By navigating further down on the dashboard, you'll encounter the weekly leaderboard. Your position on this leaderboard directly influences the booster multiplier applied to your realised points at the week's conclusion—the higher your rank, the greater the multiplier. Engaging more actively with Cyan's features and completing more transactions will aid in amassing a higher total of realised points for that week.

Finally, the dashboard provides a comprehensive view of the total issued points via a cumulative chart located at the bottom. This chart displays the aggregate of lifetime accumulated realised points across all user accounts on Cyan, offering a broad perspective on the overall engagement and rewards distribution within the platform.

Feel free to ask us questions anytime on our Discord server!