> For the complete documentation index, see [llms.txt](https://docs.noon.capital/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.noon.capital/4.-usdnoon/rewards.md).

# Rewards

On top of the protocol's base yield, <mark style="color:blue;">**Noon**</mark> runs a points-based rewards programme organised in **seasons**. Points reward the behaviour that builds the protocol: holding, staking, providing liquidity, and referring. These points can be converted to <mark style="color:violet;">**$NOON**</mark>, and reward <mark style="color:purple;">**Noon**</mark>'s most long-term oriented users even more.

This page covers how the programme works; every rate and boost lives on [Multipliers](/4.-usdnoon/rewards/multipliers.md), and the programme's next chapter lives on [Noon League](/4.-usdnoon/rewards/noon-league.md).

{% hint style="info" %}
Programme terms, rates, and multipliers are season-specific and subject to change, including by governance decision. Points are a rewards mechanism, not a yield, deposit, or guarantee of any token amount or value.
{% endhint %}

## <mark style="color:$primary;">Seasons</mark>

The programme runs in numbered seasons, each with its own rates and campaigns. The current season is shown at [**app.noon.capital/rewards**](https://app.noon.capital/rewards).

## <mark style="color:$primary;">How points accrue</mark>

You earn points three ways:

* **Holdings.** <mark style="color:violet;">**$USN**</mark> and <mark style="color:violet;">**$sUSN**</mark> accrue points daily across all supported chains, with <mark style="color:violet;">**$USN**</mark> at a substantially higher rate. That asymmetry is deliberate: <mark style="color:violet;">**$USN**</mark> holders forgo the cash yield, and points are how the programme recognises it.\
  The trade-off is laid out on [$USN or $sUSN?](/2.-usdusn-and-usdsusn/usdusn-or-usdsusn.md) and the current rates on [Multipliers](/4.-usdnoon/rewards/multipliers.md).
* **Activities.** Providing liquidity on supported venues earns boosted rates, with venue, pair, and chain-specific multipliers. All of it on [Multipliers](/4.-usdnoon/rewards/multipliers.md).
* **Referrals.** Referrals pay both sides: you earn 10% of your referees' points, and they earn a 10% boost on their own accrual.

## <mark style="color:$primary;">Points and</mark> <mark style="color:$primary;">**$NOON**</mark>

Points convert to <mark style="color:violet;">**$NOON**</mark> every month, and the mechanism is simple:

1. Each month, a set pool of <mark style="color:violet;">**$NOON**</mark> is allocated to the rewards programme.
2. Through the month, you earn points from holdings and activities (the full list lives at [**app.noon.capital/points**](https://app.noon.capital/points)).
3. At month-end, your share of total points becomes your share of that month's pool.

## <mark style="color:$primary;">What's next</mark>

The Reward programme is becoming the <mark style="color:purple;">**Noon**</mark>**&#x20;League**, and everything you accrue now already counts toward it.