Napier Point
This article was last updated on February 16 at 9:00 AM GMT. Users are encouraged to carefully check for the most up-to-date information.
The Napier Points Program has been upgraded with the goal of advancing Napier v2 and the broader Napier ecosystem. In addition to the Napier Points that have already been allocated, Napier Points will be granted to users and curators of Napier v2 for various activities. The conditions for these Napier points have been significantly upgraded, now equivalent to 15% of the FDV (Fully Diluted Valuation) of the NPR tokens at the time of the TGE (Token Generating Event), scheduled for Q2 2025.
TL;DR
The Napier Points Program is designed to foster the development of Napier v2 and the Napier ecosystem.
Napier Point will be equivalent to 15% of the total NPR tokens supply at the token generating event.
Napier Points can be obtained by engaging in various activities on Napier v2, including curation job around PT (Principal Tokens) and YT (Yield Tokens), liquidity provision, yield trading and other possible future additions.
What Are Napier Points?
Definition
Napier Points are reward points granted based on user activities within the Napier v2 protocol (such as holding positions, curation, yield trading, and other DeFi operations like lending).
Napier v2 aspires to be more than a simple yield trading platform; it aims to build a community-owned open financial network.
It features an incentive design that grants points not only to users but also to curators, allowing them to deliver efficient and feature-rich products to users.
This mechanism is expected to enhance the value of the Napier platform and encourage broader community participation and growth.
Base Weight / Market Weight / Boost
Three key factors are used to calculate Napier Points:
Base Weight: A weight reflecting the USD value and duration of a user’s "Eligible Actions”.
Market Weight: A total sum of Base Weights in a specific market.
Boost: A multiplier applied to Base Weight or Market Weight that amplifies it.
Using these elements, a total Napier point amount is calculated for each user on a weekly basis. Napier Points are then awarded once a week.
How Napier Points Are Distributed
Napier Points are calculated as off-chain data and allocated weekly to all markets created by verified curators as follows:
Napier weekly sets a fixed amount of Napier Points to be distributed all markets created by verified curators (or unstoppable market).
Each market’s share of these points is determined by its total Market Weight.
Of the points allocated to each market, a certain percentage (
20%) goes to the curators, and the remaining (80%) is distributed among users.Finally, individual user allocations are determined based on each user’s Base Weight.
Example
Suppose
27,182,818,284Napier Points are set to be distributed from March 3 to March 10.A specific market—for instance, one with the underlying asset stETH, curated by Vitalik Finance, with a maturity date of December 20, 2025—receives
1,325,310,593points.Of this total,
20%goes to the curator and80%to users.The users’ portion is then further allocated among individual users based on each user’s Base Weight.
Curators who perform eligible actions within the pools they create will earn points both as curators and as users.
Eligible Actions
As of February 16th, eligible actions for Napier Points include:
Becoming a curator and creating a PT and YT market on Napier v2.
Providing liquidity to a Pool and holding the LP tokens (or staking them into Curve Gauge).
Purchasing or minting YT in a Pool and holding it.
Actions such as supplying PT to lending protocols will be added in future updates.
Why You Should Collect Napier Points
Napier v2 aims to create an ecosystem optimized for incentives through community-driven initiatives, benefiting users, curators, and builders alike. This ecosystem seeks to enhance overall value and enable sustainable growth for all participants. Napier Points will be converted into a value equivalent to 15% of the NPR token’s FDV during the TGE, scheduled for Q2 2025. By actively participating in Napier v2 and accumulating Napier Points, participants will gain the opportunity to earn additional rewards and fees using NPR tokens in the future. Moreover, Napier Points can be utilized in Napier DAO governance, influencing economic parameters within the protocol (such as fee distribution between users and curators), fee allocations, and other critical decisions. As a result, Napier Points hold significant value for all participants in the Napier ecosystem.
...Additional Information
That's not all. You also have an opportunities to earn Napier Points by sharing knowledge and contributing to the community. The end date for "The Return of John Napier" campaign, which started on January 17th, 10:00 (UTC), has been extended to February 28th, 10:00 (UTC). You will have a chance to earn Napier points by creating threads or content for "The Return of John Napier" campaign and earning a Discord role. The details can be found in this thread.
Overview of the NPR Airdrop
The airdrop is expected for Q2 2025, after the bootstrap phase of Napier v2.
Users will receive NPR tokens based on the number of Napier Points they have accumulated during the program period.
Napier Points will be converted into a value equivalent to 15% of the NPR token’s FDV during the TGE.
Napier Points Distributions
For the sake of transparency with the Napier community, the section below summarizes the events and programs that have distributed Napier Points so far.
Napier weekly sets a fixed amount of Napier Points to be distributed.
Napier v1 Phase
276,274,626.795 pts
March 17th at 6 PM UTC to March 24th at 6 PM UTC
100,000,000 pts
March 24th at 6 PM UTC to March 31st at 6 PM UTC
80,000,000 pts
March 31st at 6 PM UTC to April 7th at 6 PM UTC
80,000,000 pts
Other Important Information
To prevent fraudulent acquisition of points through illegitimate wallet operations, Napier reserves the right to detect suspicious activity, conduct reviews, and revoke points if necessary.
If Napier DAO earns Napier Points through curation or other eligible activities on Napier v2, all of those points will be burned at the conclusion of the program.
Frequently Asked Questions (FAQ)
Q1. Where can I check my Napier Points?
A. Once Napier v2 goes live, you will be able to view your Napier Points on the Napier Interface. Even after the v2 launch, the interface will be updated, and an API will be provided so partner UIs can also display Napier Points.
Q2. What can I do with Napier Points?
A. Napier Points will represent an equivalent value of NPR tokens at TGE. They are also expected to be used in community governance and other expanding use cases within the Napier v2 ecosystem.
Q3. Can I sell or transfer Napier Points?
A. Currently, Napier Points cannot be transferred to other addresses or bought/sold in any market.
Q4. Is there a risk of losing Napier Points?
A. In principle, no. However, points may be revoked if fraudulent activities are discovered.
Q5. How do I earn more Napier Points?
A. You can accumulate points by engaging in various DeFi integrations, providing liquidity, holding YT, curating, and taking other actions within Napier v2.
For Projects Interested in Integrating Napier Points
Any market created by a verified curator will distribute Napier Points.
After the launch of Napier v2, verification can be done easily through the Napier Interface by submitting the required information.
If you are considering integrating the Napier Points Program into your own community or project, please feel free to contact our team.
An API will be provided so that partner projects can track Napier Points balances in their own user interfaces.
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