An Overview of Fuel Points
Fuel Points are a reward mechanism used within the Fuel ecosystem. They are earned through specific on-chain actions that help drive the network’s growth and adoption. By accumulating Fuel Points, participants may become eligible for future network rewards or benefits.
Fuel Points are divided into two separate phases, each tied to distinct phases of the program:
Pre-Deposit Program (Phase 1):
These points were distributed to participants who deposited specific tokens into Fuel’s pre-deposit contract on Ethereum. Phase 1 was designed to bootstrap the network and reward early supporters.
As of now, the Pre-Deposit Program has concluded, meaning no further points can be earned under this category, but don’t worry, Phase 2 is out now!
Phase 2 Points:
Phase 2 points are earned through interactions with Fuel Ignition and the associated apps on the network.
You can gain points by performing various activities, such as using applications, testing features, or engaging in network activities that contribute to Fuel’s ecosystem growth.
This ongoing phase focuses on encouraging participation in Fuel’s live ecosystem.
* Please note that Fuel Points from these phases are entirely independent of each other, meaning they do not overlap or influence one another
How can you join the Phase 2?
To earn Phase 2 Fuel Points, follow these steps:
1. Migrate Your Funds to Fuel L2:
If you participated in Phase 1 (Pre-Deposit Program), you can migrate your pre-deposit funds to the Fuel Layer 2 network
To do this, visit the Fuel Deposit App as shown below:
Once you are in, hit the “Connect Wallet” button and deposit one of the qualifying assets such as ETH, stETH, USDT and others.
Alternatively, you can bridge your funds to Fuel L2 by using the Fuel Bridge. This is essential for accessing the Fuel Ignition platform and earning Phase 2 points.
2. Engage with dApps on Fuel Ignition:
Once your funds are on Fuel L2, start interacting with decentralized applications (dApps) available on the Fuel Ignition platform, below is a screenshot showing few of the dApps available on Fuel Ignition
Activities such as testing dApps, performing transactions, or exploring features may earn you Phase 2 points, depending on the specific requirements of each application.
Earn 3 Tyeps of Points!
In phase 2 of the Fuel Points Program, there are three main types of points:
- Activity Points
Activity Points are the most effective way to earn Phase 2 points. They are awarded when you actively deploy your assets into qualifying decentralized applications (dApps) running on Fuel Mainnet.
You can earn activity points by becoming a liquidity provider (LP) in an automated market maker (AMM) platform or lending your assets on a lending platform.
Point Calculation:
- You will earn 2x baseline points for every dollar of “useful liquidity” deployed into participating dApps.
- “Useful liquidity” refers to liquidity that supports a protocol’s functionality, such as enabling trades or facilitating lending, and is determined on a per-protocol basis.
*Note: Multipliers may vary across applications, so staying updated through the Fuel Ecosystem Page is recommended.
- Gas Points
Gas Points are easy to earn! They are a form of reward for your spending on transaction fees (gas) within the Fuel network. For every dollar spent on gas fees during transactions, you will earn 5 points. - Passive Points
Passive Points are designed for participants who hold assets in the Fuel ecosystem while deciding how to deploy them actively.
Just like it works with staking, even if your funds are idle, you will accumulate Passive Points at a minimum rate of 1 point per day for every dollar of assets held.
As you can see below, your Points dashboard, which is being updated daily, will show the types of points you accumulate via engaging in different activities of the Fuel network.
Moving Funds to a Ledger Wallet
If you ever wish to take your assets out and store them securely, you can easily transfer your assets to a Ledger wallet. Simply follow the unstaking process and move your tokens to Ledger for safe offline storage!
(Terms & Conditions Apply)
About Simply Staking
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More Information on our offerings can be found on our website.
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