Overview of mPoints
Introduction to mPoints
The Genesis of MilkyWay
MilkyWay, a groundbreaking initiative, commenced its journey in October 2023. Our mission was clear from the start: to provide a secure, efficient liquid staking solution tailored for the Modular ecosystem. By December 18th, 2023, MilkyWay emerged as the first liquid staking protocol for Celestia, directly addressing the needs of TIA holders desiring to stake without enduring the traditional 21-day lock-up period. Achieving remarkable growth, MilkyWay swiftly surpassed a Total Value Locked (TVL) of $43 million, with milkTIA finding its way into various DeFi protocols in less than a month.
Token deployment, while seemingly straightforward, demands meticulous planning to ensure the token's value appreciates sustainably. This involves strategic partnerships and onboarding efforts. Behind the scenes, we are diligently preparing for the token launch, valuing our early supporters' patience and trust.
Introducing mPoints as a gesture of appreciation, we aim to keep our community engaged and informed about their standing in the forthcoming MassDrop event—a substantial airdrop where at least 10% of the total supply is earmarked for mPoint holders. Further details on MILK tokenomics will be provided separately.
How mPoints Work
Earning mPoints is designed to be an effortless process for anyone involved in holding milkTIA, participating in liquidity pools, or partaking in lending and borrowing activities. The system rewards users for their engagement with milkTIA in various capacities.
Earning mPoints
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Holding milkTIA: Simply holding milkTIA in your wallet accumulates mPoints. We capture daily snapshots of milkTIA balances, awarding 1 mPoint daily for each milkTIA held. Eligibility requires milkTIA to be on the Osmosis chain, its primary minting location.
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Engaging in DeFi Activities: Active participation in DeFi on the whitelisted defi protocols which can be found at - https://app.milkyway.zone/discover (opens in a new tab), where engaging your milkTIA earns you at least 1.25 mPoints daily. Stay updated with the latest whitelisted protocols at our official site to maximize your mPoint earnings.
mPoint Calculations
The method for calculating mPoints has evolved to better reflect user engagement and activity within the MilkyWay ecosystem. The formulae have been adapted to accommodate rapid integrations and have been applied retroactively for fairness and accuracy.
Calculating mPoints
To align with our rapid integration and dynamic ecosystem, the calculation was refined:
Hodl = OsmosisBalances + MarsBalances (Deposits) + DemexBalances
DeFi = Using milkTIA in whitelistde defi protocols at https://app.milkyway.zone/discover (opens in a new tab)
Where as Hodling will result into users earning 1 mPoint per milkTIA everyday.
Users utlising milkTIA in defi will be accumlating 1.25 mPoints per milkTIA everyday.
Upcoming Enhancements
We are dedicated to expanding the mPoints ecosystem with various initiatives designed to enrich our community's experience. Planned enhancements include:
- Social Media Campaigns: Engage with our brand on social media for additional mPoints.
- Rewards for Early Adopters: Special recognition for those who have been with us from the start, including testnet participants.
- Special Campaigns: Look out for limited-time booster campaigns to accelerate your mPoint earnings.
Tracking and Redemption
Unlike tokens, mPoints are not stored on-chain. Instead, your mPoints can be tracked through our mPoints leaderboard, updated daily on our website at - https://app.milkyway.zone/points?points-tab=my-breakdown (opens in a new tab).
The MassDrop
The mPoints system will be in full swing throughout early 2024, with multiple versions rolled out. This will all culminate in a MilkyWave in the form of a MassDrop when the MILK token launches in H1 2024. We will be using 10% of the whole MILK token supply will be allocated to mPoint holders!