Since day one, token rewards have more or less been the primary means for crypto projects to thank their backers. “Points Systems” have become more common alongside airdrops, especially over the course of this year, which rewards people for actually using the protocol in question for a certain period of time.
Valdora, a vault and liquid staking protocol which came out of the ZIG Finance ecosystem, launched its very own ‘Points Program,’ rewarding people for taking part in various ecosystem activities. A public leaderboard lets users see their points and where they stand.
In terms of how the points are accrued, there are three activities that count toward a user’s total:
- Depositing into eligible Valdora vaults
- Staking ZIG
- Referring others who participate
In all of this the logic is simple, the higher the participation over time, the more points one can collect.
Early Supporters Aren’t Starting From Zero.
Arguably, the most interesting detail of the entire program is its emphasis on past activity, such that anyone who deposited into a vault or staked ZIG before the program went live will find that they have already been credited with a certain amount of points.
That’s a fair nod to the people who showed up before there was any scoreboard at all, and there are quite a few of them (given Valdora’s total value locked currently sits at roughly $79 million, about double the $37 million or so recorded at the end of June).
Staking remains the entry point for a lot of those users as ZIG staked on Valdora returns stZIG, a liquid token that keeps accruing validator rewards while remaining usable elsewhere. The platform’s USDC vaults, meanwhile, cover strategies ranging from private credit and commodities to equities and opportunistic credit, each with its own yield source, risk profile and liquidity terms.
Wait, There Is Enough Room for Newcomers Too!
The program is open to first-time users as well, who can start earning points now, working their way up by continuing to take part in the ecosystem. The rationale behind this is that people are already using Valdora (to deposit into vaults and stake ZIG), so the points offer a simple way to recognize that activity while showing how the community is getting involved.
A Step on the Road to TGE
Last but not least, it bears mentioning that the Points Program will also form part of the community’s journey toward Valdora’s token generation event (TGE). Exactly how points will factor into that process is yet to be detailed, so that is something interested participants need to keep an eye out for. That being said, for a protocol whose TVL has grown significantly in a single summer, a leaderboard looks like a sensible way to show who its most committed users really are. Interesting few weeks ahead for Valdora and its backers!