Falcon Finance Introduces Trial Run of Falcon Miles Loyalty Program, Awarding Points to Users Engaging in Its Ecosystem
Laidback and Casual Review of Falcon Finance's Falcon Miles Program
Hey there, crypto pals! Here's the lowdown on Falcon Finance's latest innit, the Falcon Miles program. It's a rewards system, see, designed to encourage active participation within their ecosystem. What this means is that, if you're a regular staker, holder, and minter, you might just score some sweet rewards!
Unlike your traditional points program, Falcon Miles uses a multiplier-based system. This system works by giving you points based on the worth of what you do, multiplied by a factor that depends on the action. For instance, if you mint USDf (their synthetic dollar) worth $10,000 by using Classic Mint with non-stablecoins, and that activity has an 8x multiplier, you'd bag 80,000 Miles! It's that simple!
You can earn Miles by performing various suitable activities, like:
- Minting USDf via Falcon Classic Mint or Falcon Innovative Mint, or buying it on DEXs or CEXs like Bitfinex and WOO X.
- Holding USDf in your wallet for a specific period.
- Staking USDf for sUSDf.
- Restaking USDf for increased yield.
- Trading on Uniswap v3.
Miles are computed every day and reflect the previous day's activity. It's pretty nifty, as you can also invite friends to join in and potentially earn even more Miles! Up to 10% of the Miles earned by your referred pals could be yours!
Falcon Miles is currently in its pilot season. This initial stage mainly focuses on tracking core activities within the Falcon App, such as minting, staking, and restaking. However, updates are on the way, and future activities involving external protocol partners might even earn you bonus points!
Now, it's important to play fair. If you abuse the system, you could lose your points or even get disqualified from rewards. But don't worry; the Falcon Finance gang has got your back and will obviously reward those active supporters who've driven growth in their synthetic dollar protocol - yeah, that's right - $560 million in USDf supply and over $650 million TVL (Total Value Locked)!
Impressive, huh? So, if you're feeling like getting more involved and want to contribute to the growth of Falcon Finance, perhaps it's time to hop on board and start earning some sweet Miles!
[1] - https://docs.falcon.finance/protocol/economics/falcon-miles[4] - https://docs.falcon.finance/protocol/dynamics/minting
In this Falcon Miles program, cryptocurrency holders can earn rewards by participating in various activities such as minting Falcon Finance's synthetic dollar (USDf), holding USDf in their wallet, staking and restaking USDf, and trading on Uniswap v3. Additionally, altcoin miners can also contribute to their Miles by utilizing Falcon Classic Mint or Falcon Innovative Mint. This multiplier-based rewards system is a significant part of Falcon Finance's finance ecosystem and is an exciting opportunity for crypto enthusiasts to get more involved and contribute to the platform's growth. You can learn more about Falcon Miles in their documentation at [1] and about minting at [4].
