Introducing Ondo Points
The Ondo Foundation is excited to announce the Ondo Points program to reward community members and increase awareness of products in the Ondo Ecosystem.
You can earn points in many ways, from participating in the community and DAO to using Ondo products and services. The opportunities to earn points are grouped into three campaigns.
Campaign 1: Wasted Stablecoin Interest Competition
The Ondo Ecosystem launched some of the safest stablecoin yield options onchain, backed by US Treasuries and other very conservative assets.
Ondo Finance launched the first tokenized security to gain material adoption, OUSG, and the Ondo DAO governs the first lending market to support both permissioned and permissionless assets, Flux. Ondo Finance and Ondo Foundation have also collaborated on the first yield-bearing substitute to conventional stablecoins, USDY. Whatever you’re looking for in onchain cash management, chances are you can find a solution in our suite of products.
That said, most stablecoins – tens of billions of dollars – are still sitting in onchain wallets earning no yield. This means that stablecoin holders have wasted billions of dollars in forgone interest in 2023 alone.
The Ondo Foundation is excited to announce a fun competition:
Let’s find out how much interest you’ve gifted stablecoin issuers and crown the most wasteful one!
Eligibility: Every wallet that held uninvested USDC or USDT between the launch of OUSG (January 26, 2023) and the end of 2023 will be eligible to earn points. You must claim the points by March 31.
How to claim:
- Visit ondo.foundation/points
- Connect your wallet and Twitter account.
- Complete the workflow to find out how much interest you’ve wasted and claim your points.
Who will be crowned the most wasteful stablecoin holder?
Campaign 2: Ondo Community
We’re thankful for the outpouring support from our growing community. The Ondo Ecosystem has over 81,000 community members across Twitter, Discord, and Telegram. We’ve also had over 18,000 community members join us during our CoinList sale in 2022.
Eligibility: Anyone in the Ondo community can earn points. New community members are welcome too! You can still join us on Twitter (@OndoFoundation, @FluxDeFi, @OndoFinance), Discord (Ondo DAO), and Telegram (Ondo DAO Community, Ondo DAO Announcements).
How to Claim:
- Visit https://galxe.com/OndoFinance
- Confirm your participation in each community channel to earn points.
Additionally, CoinList purchasers who claim their ONDO tokens by March 31 will earn more points according to their stakes. Except for paper hands, who’ll be excluded from this reward pool. Points will be distributed automatically, so no other action is needed if you’ve claimed your tokens.
Campaign 3: Ondo Ecosystem
The Ondo Foundation will also reward those who participate in the Ondo Ecosystem in 2024.
There are many ways to earn!
- DAO Governance
- Become an ONDO holder. Earn points by holding ONDO in your wallet. Bonus points for diamond hands.
- Participate in governance. Earn points by delegating your voting power or voting on proposals yourself. Bonus points for becoming an active delegate.
- Flux Finance
- Lend stablecoins on Flux. Earn points for each dollar you supply to stablecoin markets on Flux. Bonus points for participating in multiple markets.
- USDY
- Hold USDY. Earn points (and interest) for each USDY token held. Stop wasting yield by holding uninvested stablecoins. Bonus points for holding USDY across multiple chains.
- Mint USDY. Earn points by minting new USDY. Learn more.
- DeFi Ecosystem
- Use Ondo assets across DeFi. Earn points by leveraging Ondo assets like USDY across DeFi, on protocols such as Uniswap, Kamino, Orca, Curve, and more. Bonus points for participating in multiple protocols.
- Mystery Quests
- We’ll also award points to certain undisclosed actions around the Ondo Ecosystem. Can you figure out how?
- We’ll also award points to certain undisclosed actions around the Ondo Ecosystem. Can you figure out how?
The Foundation will disqualify malicious actors (such as Sybil attackers) and wallets associated with illegal activities.
Conclusion
The Ondo team is honored by the interest we’ve received from the community, and we’re excited to announce the points program to reward those who’ve supported us. Point balances will be tracked off-chain, and a leaderboard will be available soon on our website.
In the coming months, we’ll announce further rewards for those who earn points. In the meantime, we encourage you to use our products and services, join our community channels, and provide feedback on our Discord.