OpenPeer points are now available at https://app.openpeer.xyz/airdrop. Points represent a quantitative way to track how much a user has contributed to OpenPeer’s success.
As a user you can earn points in two ways. The first is to simply trade on the platform. The second is if you’re an approved merchant, if you put USDT (or any other crypto) up for sale, you’ll also earn points for providing liquidity. Points will convert into our protocol’s upcoming $P2P token when it is launched in 2024.
Points earned for trading are distributed monthly based on your share of total trading volume that month. A simple calculation to determine how many points you will earn is as follows:
PointsPerUser = (UserTradedVolume / TotalTradedVolume) * 1,000,000
A total of 1M points will be available every month to earn for trading on OpenPeer. As OpenPeer grows, so will the amount of traders and trading volume, so the earlier you are to using OpenPeer the more points you’ll earn!
Merchant Liquidity Rewards
Local P2P merchants who buy and sell crypto in exchange for local currency are the lifeblood of any P2P exchange and more widely an important part in many emerging market crypto economies. Without them users simply wouldn’t be able to trade between crypto and fiat!
If you’re an approved merchant on OpenPeer you can earn a share of 40M points before the launch of our token.
To be eligible to earn points you must post a Buy Ad (selling crypto) with instant escrow and lock crypto in your escrow contract for sale. You’ll earn points every hour depending on the $ value of your escrowed funds.
Only approved merchants can post ads. If you’re a experienced merchant on another exchange like Binance P2P, OKX or Paxful you can apply here
OpenPeer is a decentralized P2P exchange protocol that enables anyone to freely trade between fiat and crypto. In 2024 we’ll launch the $P2P token, a utility token that will power the protocol and ecosystem. More details will be announced as we get closer to launch.
Are points tradeable?
No points can be traded. You will be airdropped the P2P token based on your points balance. $P2P will be a fully transferable token with governance rights and additional staking mechanisms.
What is the value of points?
Points have no value, they are a way to quantify each users contribution to OpenPeer’s success. Based on your points you will earn $P2P which will be valued based on what it is purchased and sold for on decentralised and centralised exchanges in the future.
When will happen to $vP2P earned in the old rewards campaign?
We previously ran a rewards campaign from June 2023 – December 2023 allowing users to claim a non-transferable token ($vP2P) on the Polygon blockchain. All $vP2P both claimed and unclaimed have been converted to points at a 1 to 1 rate.
What is the $P2P token?
$P2P will be the native token for the OpenPeer protocol. It will be used to participate in different mechanisms of the protocol as well as used to incentivize loyalty from users and the community. OpenPeer is a decentralised P2P exchange protocol and $P2P will also be used for governance purposes.
Notice: Residents of the United States of America, China, Iran, Cuba, Democratic Republic of North Korea, Russia and Syria are restricted from trading on OpenPeer and earning points.
We reserve the right to change the points program at any time. While it is intended to release the $P2P token based on points balances it is not a guarantee. We reserve the right to block some users from earning points or airdropped tokens.