🌎Season 3: Perks Passport

TL;DR

  • Season 3 has already begun, running from July 1 until September 14, 2024

  • Perks Passport will launch soon, and points will be retroactively earned from July 1 , 2024

  • Perks Passport gives users a boosted loyalty points reward for participating across ether.fi's product suite and its ecosystem of DeFi partners

  • 25,000,000 ETHFI tokens will be allocated to Season 3

Overview

Perks Passport is a system that awards users a boost to their ether.fi loyalty points based on their participation in various DeFi activities and events, tracking their progress and achievements.

  1. Users earn boosts for participating and meeting the requirements of any passport activity

  2. Participants can earn up to a 5x boost on their total ether.fi loyalty points

  3. Perks activity will have a range from 0.05x - 5x, depending on the activity

  4. For every 5 Perk activities earned, the user will get an additional 0.5x Boost

  5. Perk activities remain β€œstamped” once the condition for activating is met. For example, if an activity boost was earned for depositing ETH into a Liquid vault for a minimum of 14 days, it would only stamp once the user maintains a deposit in that vault for the minimum 14 days

  6. Stakers will also automatically receive a 0.07x boost every 24 hours (up to the max 5x boost)

  7. Loyalty points will continue to accrue at the same rate as they did in Season 2. To make it easier see points between seasons, users will be able to view their points from Season 1 and 2 within the Portfolio tab, under their loyalty points breakdown. Total loyalty points will continue to display as a sum of all points earned across seasons

  8. In transitioning to Season 3, the protocol aims to recognize Season 1 and 2 participants without disproportionately allocating Season 3's airdrop to them. To achieve this, S1 and S2 participants will automatically activate exclusive Passport boosts just for them, displayed in the dapp Portfolio tab

  9. All eETH and weETH, whether held or in DeFi positions, including Liquid, will be treated the same for Season 3 loyalty points

Conditions

  • Users who withdrew their ETH or mostly withdrew their ETH, their Season 2 points won’t earn them a Season 3 airdrop unless they stake additional ETH during Season 3

  • Participants will also be ineligible for the following:

    • Users with less than 150k points from staking activity (Points from badges do not qualify as staking activity)

    • Users who exited within 5 days of the end of Season 3 (excluding Pendle)

    • Users with wallets that are part of a known sanctioned list

    • Users who have actively been caught as sybils or attempting to manipulate the protocol or events to game the system

    • Users who are linked to on-chain scams such as pinkdrainer

    • Users who were part of the Early Adopters Program (EAP), but still did not transition out of the EAP

    • Users with no active eETH/weETH balance in their wallet or no active weETH balance in partner protocols at date of snapshot

FAQ

  • Can my combined positions (e.g., weETH + eETH) equal 0.1 eETH to eligible for Perks Passport?

    • Yes

  • If users only stake on Ether.fan, are they still eligible for Season 3?

    • Yes, as long as they do so through Season 3

  • Will ether.fan holders get any benefits?

    • They’ll receive special activity boost for holding any NFT. See Perks Passport in dapp for info

  • What about Pendle YT?

    • This will work exactly as it did during Season 2. Your boosts will also apply if you hold a YT position in Pendle

  • What will happen for Pendle pools which mature? People will not own any YT-eETH because the value will come to 0.

    • As soon as you have < 0.1 eETH / weETH in any DeFi protocol position, your rank will reset

  • I’m in a few DeFi protocols that aren’t currently being tracked, are the points for those going to be granted retroactively?

    • Yes

  • I have a lot of points from Season 1 and Season 2. Will they be counted in Season 3?

    • While all of your historical points will be maintained in your portfolio, only points earned in Season 3 will count for Season 3. Season 1 and 2 participants will automatically unlock Passport boosts, giving these early members a head start to the season

Perks Passport rules and conditions are subject to change.

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