Points
A reward system that can be used to save fees on various L1 transactions within the Loopring Smart Wallet
Users can choose points to pay for gas when binding an ENS, setting up guardians and daily quotas, depositing assets from L1 to L2, and recovering their wallet in the event it is lost, stolen, or deleted.
The value of each point is adjusted as the total amount of points issued changes. When points are used to cover gas fees, the exchange rate with various digital tokens is dynamically calculated based on various factors.
The largest number of points one wallet can hold is 100,000. If not used, points expire after one year. Points are also not transferable, redeemable, or exchangeable to other assets.
How to Earn Points
Users can earn points by:
Creating the Loopring Smart Wallet (1,000 points).
Inviting others with an invitation code to create the Loopring Smart Wallet (1,000 points). Invitees must first create the fullt wallet (L1 and L2) for the inviter to earn points.
Daily check-ins to the Loopring Smart Wallet. Each check-in during the 24-hour period earns 10 points, while consecutive check-ins earn more points. For example, the first check-in earns 10 points and the sixth consecutive check-in earns 60 points. After seven straight check-in days, each following check-in becomes worth 100 points.
The daily check-in time is based on UTC.
There are two ways to earn the daily check-in points:
With the app open:
Tap the bell icon in the top right corner.
Confirm daily check-in.
With the app open:
Tap Profile
Tap Points
Confirm daily check-in.
In the Points screen you can also view:
Total Points accumulated
Points Records
Locked vs. Available
Points become locked after use
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