Velix Point System (vPoints)

The Velix point system (vPoints) is designed to reward users for participating in various activities within the Velix protocol, such as staking and referrals. Using a tiered approach, this system ensures fairness while encouraging consistent engagement with the Velix protocol.

Key Components of the vPoint System

• Staking vPoints

• Referred vPoints

• Calculation Methods

1. Staking vPoints

Staking vPoints are earned by users when they stake METIS tokens. The vPoints are calculated using a combination of base points and a duration multiplier, rewarding users who commit to longer staking periods.

Calculation Method:

• Base Points: Users earn 1 point for every $1 worth of METIS token staked.

• Duration Multiplier: Multiplier increases with the number of days staked.

Formula:

Staking vPoints = Base Points × Duration Multiplier

Example Calculation:

• Base Points: 1 point per $1 worth of veMETIS token staked.

• Duration Multiplier: Number of days staked.

If a user stakes 100 METIS tokens at $48 per token for 10 days:

Staking vPoints = 100 × 48 × 10 = 48,000 vPoints

2. Referred vPoints

Referred vPoints are awarded to users who refer others to the Velix protocol. Referrers earn points when their referred users participate in staking. Additional bonuses are available for multi-level referrals, though the structure is limited to two levels.

Calculation Method:

• Base Referral Points: Points earned for each successful referral.

• Referral Bonus: Additional points when the referred user stakes METIS tokens.

Formula:

Referral Points = User’s Staking Points × Referral Percentage

Example Calculation:

If a referred user stakes 200 METIS tokens for 1 day:

Referred vPoints = (10/100) × 200 × 48 × 1 = 960 vPoints

Referral Percentage Allocation:

Velix incentivizes user referrals through the following structure:

• Referral Percentage: 10% of the staking points earned by the referred user are awarded to the referrer.

• Additional Referral Bonus: 5% of the staking points earned by a second-level referred user are awarded to the original referrer.

Example:

1. First-Level Referral:

   • Thomas refers User A, who earns 300 vPoints.

   • Referral Points for Thomas:

     300 × 10/100 = 30 vPoints

2. Second-Level Referral:

   • User A refers User B, who earns 100 staking points.

   • User A earns 10% of User B’s points:

     100 × 10/100 = 10 vPoints

   • Thomas earns 5% of User B’s points:

     100 × 5/100 = 5 vPoints

Structure and Redemption:

• The referral system supports a 2-level referral structure.

• Accumulated vPoints can be redeemed for VELIX tokens with user-friendly redemption options.

• Redemption dynamics enable users to maximize rewards across various networks, further encouraging engagement with the Velix protocol.