Introducing AgentFi Credits
We’re excited to unveil our latest innovation: the AgentFi Rewards program, AgentFi Credits.
Why are we doing this?
AgentFi Credits is carefully crafted to properly recognize the contribution of our users, providing a novel way for them to gain rewards that truly mirror their involvement and activity!
AgentFi Credits will be allocated to our active users on the AgentFi platform. This initiative is not only aimed at enriching our existing community but also at attracting interest from other groups, thereby expanding our community’s reach and growth!
Our commitment is to ensure the AgentFi Credits system is equitable for everyone involved, allowing early adopters and steadfast supporters of AgentFi to be rewarded and engaged going forward. This approach mirrors the strategy employed by Blast, which rewards its early backers with points, ensuring they have a significant stake in the L2’s success.
Program Duration
The first phase of the program is scheduled to run from early April until July, lining up with the points redemption day for Blast. Credits are accumulated in weekly epochs, with a fixed baseline rate for credits earned per ETH deposited each hour. We will reward early users with higher rewards at the start of the program, but we will give out meaningful rewards throughout the whole duration.
Credits Calculation
The credits earned by each user will be calculated as:
Credits Rate (per hour)
=
Baseline Credits Rate * User TVL (denominated in ETH) * Time Multiplier * Bonus Multiplier
For each weekly epoch, the Baseline Credits Rate, Time Multiplier and Bonus Multiplier can be different.
Baseline Credits Rate
At the heart of our credits system is the Baseline Credits Rate, which determines the base rate at which credits are earned per ETH staked for each hour. This rate starts at 2 credits per hour per ETH in the first epoch, and gradually decreases to 1 credit per hour by the fourth epoch. This decreasing scale incentivizes users to join the program early to maximize their rewards.
Time Multiplier
The Time Multiplier is used to incentivize and reward loyal users for continuing their participation on the platform. The longer each agent uses the platform, the higher its Time Multiplier is.
This multiplier is specific to each agent: it starts at a specific value and increases to a maximum of 2x. The starting value of this multiplier is determined by the rarity category of the user’s Blastooor Agent, with each category assigned a different initial multiplier:
- Legendary Blastooor Agents receive a starting multiplier of 1.75x.
- Rare Blastooor Agents receive a starting multiplier of 1.5x.
- Pre-rare Blastooor Agents receive a starting multiplier of 1.25x.
- Explorers receive a starting multiplier of 1x.
Sample Time Multiplier increases for NFTs with different rarities:
How does my Time Multiplier change?
- Increase in Multiplier: Agents that have at least one actively running strategy at the onset of an epoch will see their multiplier increase by 0.25x.
- Resetting the Multiplier: In the absence of any actively running strategy at the beginning of an epoch, the multiplier is reset to its starting value. So as an example, a Rare NFT would return to having a Time Multiplier of 1.5x after a reset.
But how is the Bonus Multiplier calculated?
Well, its based on our referral program! It all depends on rising through the ranks, or being referred by someone who has already climbed through the ranks!
Individual and Group Credits Explained
In the AgentFi ecosystem, users will accumulate two types of credits:
- Individual Credits: These are earned directly by the users through their own activities and remain with them as personal earnings.
- Group Credits: Calculated as the sum of a user’s Individual Credits plus the Individual Credits of users they have referred.
User’s tier = Maximum(my group’s tier, my referrer’s tier)
Reaching specific Group Credit thresholds qualifies a user for promotion to higher tiers within the AgentFi community. This tiered structure rewards more active users with greater benefits. However, users can also ascend to higher referral tiers through another exciting avenue — by utilizing a referral code from a user who is already at a higher tier.
Referral Tier Bonuses
These are the credit limits users much reach for each tier:
Tier 1: 500 credits (group and user combined);
Tier 2: 5,000 credits (group and user combined);
Tier 3: 50,000 credits (group and user combined);
Each affiliate receives two unique referral codes to share. These codes can be applied to any NFT owned by new or existing users, activating credit multipliers based on the affiliate’s tier:
- 1.25x for Tier 1
- 1.5x for Tier 2
- 2.0x for Tier 3
The highest available multiplier between the NFT owner’s tier and the affiliate’s tier will be applied.
Why Participate as an Affiliate?
By promoting their referral codes, affiliates can earn an additional 10% of the credits accrued by the referred users. This dual benefit system motivates affiliates to actively expand the AgentFi community while also rewarding their significant efforts in fostering a stronger platform ecosystem.
Where can you see your credits?
You will be able to see your credits as well as other useful information on app.agentfi.io after connecting your wallet and NFT.
What’s next?
- Acquire Your First Agent: Begin your journey by purchasing your inaugural Blastooor Agent. This is your entry ticket into the AgentFi ecosystem. Visit Element Market to make your purchase. Alternatively, mint a free “Explorer” agent at no charge!
- Launch a Strategy: After acquiring your Blastooor Agent, the next step is to launch a strategy. This is crucial as it initiates your Agent’s activity on the platform, making you eligible to start accumulating credits.
- Increase Your Time Multiplier: Keep at least one strategy active at all times to progressively increase your Time Multiplier with each new epoch, boosting your credits accumulation.
- Obtain Bonus Multipliers from Partner Protocols: Secure bonus multipliers by using bonus codes from partner protocols or events, enhancing your rewards for both current and past activities.
- Engage with the Community: Join our Discord server to connect with other community members, share insights, and stay updated on the latest news and events. Maybe you can learn a trick or two on how to maximize your credits from other community members!
