Points Program
Buttonwood points reward early lenders and borrowers on Robinhood Chain. This page explains how points are earned, how the genesis campaign works, and what does not earn points.
Points are not tokens. They have no on-chain balance and no claim on anything. See the disclaimer.
How Points Work
Points are counted in dollars of USDX: 1 point = $1.
| Activity | Points |
|---|---|
| Lending through the Rollover Vault | 1 point per $1 the vault deploys to borrowers on your behalf |
| Borrowing (opening a new mortgage) | 1 point per $1 borrowed, on up to $10,000 of borrowing per wallet for the whole program |
Lending
Lending earns points only through the Rollover Vault. Each time an origination pool deploys capital to borrowers, the share of that deployment that came from the Rollover Vault earns points, split among vault holders in proportion to their vault shares.
Depositing directly into an origination pool earns no lend points. Those points are not passed on to anyone else either; they simply do not count.
Borrowing
Every new mortgage earns 1 point per $1 borrowed. Each wallet earns borrow points on at most $10,000 of borrowing for the whole program. Borrows are counted in the order they happen: once a wallet has scored $10,000 of borrowing, later borrows earn nothing. For example, a wallet that borrows $8,000 and then $5,000 earns 8,000 points for the first borrow and 2,000 for the second, and any later borrow earns zero.
Borrows that do not earn points (because they fall outside the program or the wallet was not yet eligible) do not use up the $10,000.
The program window
The program runs for 9 calendar months (UTC), starting when the genesis pool is deployed. Only activity inside that window earns points: activity at the exact start counts, activity at the exact end does not.
Eligibility
Points are earned only by wallets on the program's eligibility list. A wallet earns from the moment it is added to the list, including activity in that same second. Activity before that earns zero points.
The list is kept off-chain, and nothing about it is enforced on-chain. No deposit, borrow, or redemption is ever blocked: a wallet that is not on the list can use the protocol normally, its activity simply earns zero points, and once it is added its later activity earns as usual. There is no other penalty.
Rounding
Every calculation rounds down. Leftover fractions are dropped, never carried forward.
Genesis Campaign
The genesis campaign launches Buttonwood on Robinhood Chain with a single genesis origination pool, and rewards the wallets that fund it and borrow from it with a bonus on every point they earn for the rest of the program.
Timeline
| Phase | Length | What happens |
|---|---|---|
| Genesis pool deployed | — | The points program starts. |
| Deposit window | 21 days | Lenders deposit through the Rollover Vault. Borrowing is closed. |
| Deploy phase | 14 days | Borrowing opens. Borrows draw on the genesis pool. |
| Rest of the program | until 9 months after the genesis pool was deployed | Points keep accruing, with each wallet's genesis bonus applied. |
The exact start and end times are fixed when the genesis pool is deployed.
Who is eligible
Any wallet on the eligibility list (see Eligibility). A wallet's genesis tiers are measured from its activity whether or not it was on the list at the time, but the bonus only ever applies to points the wallet actually earns, which means points from activity after it was added to the list.
Genesis tiers
Each wallet can earn a lend tier and a borrow tier, independently.
- Lend amount: the USDX you deposited into the Rollover Vault minus the USDX you took out, counting everything up to and including the close of the deposit window. A negative result counts as zero.
- Borrow amount: the total you borrowed in mortgages that drew on the genesis pool during its 14-day deploy phase. The full amount counts toward your tier, even the part above the $10,000 that earns borrow points.
Each amount earns the highest tier it reaches. Reaching a threshold exactly counts: $1,000.00 earns +5%, $999.99 earns nothing.
| Amount (each side) | Bonus |
|---|---|
| $1,000 or more | +5% |
| $5,000 or more | +10% |
| $10,000 or more | +20% |
The two bonuses add together:
multiplier = 1.0 + lend bonus + borrow bonus (at most 1.4)
The highest possible multiplier is 1.4× (+20% lend and +20% borrow).
The bonus applies to everything
Your multiplier applies to every point you earn during the program, including points earned before you reached your borrow tier. It is paid as bonus points on top of your base points: for each activity, the bonus is the points earned times (multiplier − 1), rounded down.
Worked examples
A $12,000 vault depositor who borrows $4,000 from the genesis pool: 1.25× on everything. The wallet has $12,000 net in the Rollover Vault when the deposit window closes: +20% (the $10,000 tier). It borrows $4,000 from the genesis pool during the deploy phase: +5% (the $1,000 tier). Its multiplier is 1.25×. If the vault passes it 12,000 lend points and the borrow earns 4,000 points, it has 16,000 points plus a 4,000-point bonus, for 20,000 in total.
A wallet that deposits $10,000 directly into a pool: 0 lend points. Direct pool deposits do not earn. Only lending through the Rollover Vault does.
A vault depositor not yet on the eligibility list during genesis: 0 for that period, normal points afterwards. Everything the wallet would have earned before it was added to the list earns zero. From the moment it is added (that second included), it earns normally, at its tier multiplier.
A wallet that borrows $8,000, then $5,000: $8,000 + $2,000 score. The first borrow earns 8,000 points. The second has $2,000 of the $10,000 limit left, so it earns 2,000. Any later borrow earns zero.
Genesis misses its minimum: 1.0×. If the genesis campaign does not reach its $5M minimum (see The $5M Floor), nobody gets a tier bonus. A wallet with $12,000 in the vault and 12,000 lend points ends with 12,000 points.
Borrowing During Genesis
Borrowing is closed during the 21-day deposit window. It opens when the genesis pool's 14-day deploy phase begins.
Borrows during the deploy phase draw on the genesis pool and count toward your borrow tier. They also earn the normal 1 point per $1 borrowed, on up to $10,000 per wallet for the whole program.
What Does Not Earn Points
- Depositing directly into an origination pool. Only lending through the Rollover Vault earns lend points.
- Borrowing beyond $10,000 per wallet. Borrowing above that amount, across the whole program, earns no borrow points.
- Activity before your wallet is on the eligibility list.
- Activity outside the program window, before the genesis pool is deployed or after the program ends.
The $5M Floor
The genesis campaign has a $5M minimum raise. If it is not reached:
- the genesis pool's deposits are returned when the pool is redeemed, and
- all genesis tier bonuses are void: every wallet stays at 1.0×.
Points earned at the base rates still count.
TGE Thresholds
- At $100M of total value locked (TVL), a token generation event (TGE) will be considered.
- At $1B of TVL, a TGE will be prepared immediately.
Neither threshold is a promise of a token. See the disclaimer.
Disclaimer
Points are not tokens. They are a number reported by Buttonwood's points indexer, with no on-chain balance and no claim on anything. Earning points does not entitle you to a token, an airdrop, or any allocation, and nothing on this page promises one. Using the protocol carries risk, including the loss of funds.