Airdrop Points

Olive points are meant to reward users who contribute to the success of the protocol. Starting with the Olive beta mainnet launch on 29th March, 2024, every participant in the Olive ecosystem will receive points. The number of points will vary on the time duration and nature of participation.

The first way of receiving points will be by depositing ETH, LST & LRTs in Olive mainnet contracts. Olive gives the following reward rate to deposited assets:

Asset	Points per Day
1 ETH	400
1 LST	500
1 LRT	600
1 PT LRT (Pendle)	600
1 WBTC	8,000
1000 USDC	150
1000 USDT	150

In addition, users will receive boosts for early participation.

Deposit Rewards

Olive is offering up to 3x Boost per Asset for the early depositors.

For sum total of ETH / LST / LRT / PT-LRT (each LST / LRT / Pendle PT LRT token is counted as 1 for boost calculation purpose)

Start	End	Boost
0	5,000	3x
5,001	25,000	2x
25,001	no cap	1:1

For WBTC

Start	End	Boost
0	500	3x
501	2,500	2x
2,501	no cap	1:1

For USDC/T

Start	End	Boost
0	20 Mn	3x
20 Mn	100 Mn	2x
100 Mn	no cap	1:1

Every deposit on every chain (Ethereum Mainnet, Arbitrum etc) will receive Olive (boosted) points. Points will accumulate to your address and will show up in your airdrop dashboard.

Devs take random snapshots in each epoch to record the deposited amount. Snapshots are taken randomly during the epoch to prevent front-running.

Note: Olive has reserved 1.5 Bn tokens (15% of total supply) for airdrop to early adopters.

Referral Rewards

Earn extra Olive points by inviting other users who deposit ETH, LST, LRTs etc into Olive

1. For each person who joins Olive using the referral link, will earn an additional 16% of the referred users points. Example: If you refer to a user who earns 1,000 Olive points you will earn 16% or 160 Olive Points for referring that user.

2. The key factor for earning these extra points is deposits made by the person you've invited. The more they deposit, the more Olive Points you accumulate.

3. The system is cumulative, meaning the more people you invite and who actively deposit assets on Olive, the greater the number of Olive Points you can earn.

Spins

Users earn spins on completing goals and carrying out certain path-dependent activities.

Completing squad goals earns them spins as per the table below.

Asset	Spins Earned
1 ETH	1
1 LST	1
1 LRT	1
1 PT LRT (Pendle)	1
1 BTC	10
4000 USDC	1
4000 USDT	1

Allocation of Spins: The High Water Mark Model

Spins allocation follows a high water mark model, ensuring that spins are awarded based on net new contributions beyond your highest previous investment.

Example:

You initially invest 5 ETH, earning 5 spins. If you withdraw 3 ETH and later invest an additional 6 ETH, your total investment reaches 8 ETH (5 - 3 + 6). Since your previous high was 5 ETH, and now you've invested 3 ETH above this, you earn 3 additional spins, aligning with the net new investment above your highest mark. This model encourages continuous and increased investment in the network by rewarding additional contributions beyond the highest amount previously invested.

Spins for Reaching Squad Goals:

Olive Network rewards not just direct actions but also the growth brought to our ecosystem through the squad that you bring onboard with you..

Example:

If you refer a friend who meets the criteria for earning spins (e.g., they invest enough to earn 2 spins), you also earn the same number of spins (2 spins in this case).

This is true for every direct referral, incentivizing users to bring in participants who actively contribute to the Olive Network.

Olive will promote partner and ecosystem apps on Olive Network. They are called path-dependent activities as they require users to carry out certain activities that strengthen the ecosystem. Details on partnerships and ecosystem apps will be unveiled with time. So, watch out for partnership announcements & spins!

Onboarding spins (Spins you accumulate as part of onboarding flow - referral code, wallet connect, twitter connect, joining discord etc) and Path Dependent Spins (Spins you earn by performing certain activities on partner apps) will not be counted towards Squad Goals.