Ethereum Layer 2 Solution Scroll Introduces Automated USX Rewards While DAO Governance Pauses
In Brief
Scroll has launched a USX points program with automated tracking, multipliers, and referral rewards to incentivize early adopters.
Ethereum Layer 2 scaling solution Scroll announced that it has introduced a points program for USX, aimed at rewarding early adopters of the token. Users can earn points simply by buying, holding, and using USX, with the system automatically tracking and calculating points without any manual claims.
Points can be increased through several multipliers, including bonuses for early adoption, usage with partner applications, referrals, and time-based incentives.
According to the announcement, Base points are calculated automatically: holding 1 USX or 1 sUSX for a day earns 0.1 points, meaning that holding 10,000 USX would generate 1,000 points daily.
There are no minimum holding requirements, no minimum token amounts, and points begin accumulating as soon as the tokens are in the wallet. Users can view their points in real time on their dashboard, and there is no maximum limit on the points that can be earned.
USX Program Introduces Multipliers To Reward Early Adopters, App Usage, And Referrals
Multipliers provide additional boosts on top of the base points earned in the USX program, with four main categories. The early adopter bonus rewards those who participate first, with the initial $35 million in total value locked (TVL) receiving a 20x points boost, and each subsequent $35 million tier decreasing the multiplier by 5x, down to a minimum of 5x regardless of TVL.
Using USX with partner applications also provides multipliers. Providing liquidity to the USX/USDC pool on Honeypop DEX earns a 5x multiplier, and lending on Honeypop’s money market also provides a 5x boost. Liquidity provision on yield and points trading platforms grants a 4x multiplier on the value of LP tokens, while holding USX or sUSX within the upcoming Garden app generates a 1x multiplier.
Time-based bonuses are available to all users, with multipliers decreasing across three phases: 4x during Phase 1, 3x in Phase 2, and 2x in Phase 3, with Phase 1 beginning immediately after the USX launch and durations for each phase to be announced. The referral program allows users to earn 10% of the points accumulated by anyone they refer, while the referred users receive a 10% points bonus as well.
Scroll is an Ethereum Layer 2 scaling solution that leverages zero-knowledge (ZK) rollups to increase network scalability and lower transaction fees.
Recently, Scroll announced that its decentralized autonomous organization (DAO) will temporarily pause governance activities following the resignation of key leadership and uncertainty surrounding active proposals, as discussed by DAO members during a delegate call on Wednesday.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
