Our rewards programme

This page describes Noon's points programme.

You can read our blog post about our rewards programme for more details here.

Noon's token generation event (TGE) for our governance token ($NOON) will be in Q2 2025. We want to reward early users, so we have adopted a rewards programme prior to TGE. This is a summary of the points programme.

Users will be able to access more specific details of our points programme, including specific multipliers for our partner protocols (and activities therein) in the Rewards section of the Noon dApp (coming soon).

Objectives

In designing our rewards programme, we wanted to adopt a few objectives:

1. Simple and clear: We've seen complex rewards programmes before - but to make it easy for everyone to understand (and benefit) from our rewards programme, we want to ensure it is as simple and clear as possible.

2. Rewards value-added users and force multipliers: We know it's hard to succeed in web3 without a strong community and user base. So we wanted to ensure that the users who helped Noon the most - be it in terms of deposits, referrals, or other value-drivers.

3. Rewards long-term partners: We are in this for the long term. And we want to reward users who share a similar view.

Rewards Programme: Design

The design for our rewards programme can be summed up into a few short principles:

Points: Holdings

Holders of USN and sUSN will receive a base number of points daily.

• USN: 7 points per USN held per day

• sUSN: 1 point per sUSN held per day

As USN users are forgoing their raw return, we wanted to ensure they were being rewarded disproportionately.

Points: Boost

We want to ensure that our users explore the full power of Noon by using USN and sUSN in the ecosystem. Therefore, there are several types of activities we have chosen to highlight, and apply points boosts for. These multipliers will be on top of the points for Holding of USN and sUSN, above.

• DEX liquidity provisioning: It's critical for users to be able to buy USN and sUSN quickly and simply on DEXes. This why we will reward users who provide DEX liquidity with the highest boost. This will typically be up to 4x.

• Yield vaults / yield programmes: We want to promote the use of USN and sUSN as a stable source of capital for yield vaults and yield programmes. This is why we will reward these yield vaults typically with a boost of up to 3x.

• Lend / borrow protocols: We know that lending and borrowing is a critical component of the DeFi ecosystem, and that strategies like looping can often be quite lucrative. We will boost these activities, in particular for USN (as looping sUSN will already be highly profitable) by up to 2x.

• Ad-hoc use cases: We don't pretend to know the future. We're confident that there might be novel use-cases that we'd love for our users to be able to experience, and we'd like to incentivise. We will reserve the right to announce additional points boosts in cases like this, and ensure that we communicate these to you clearly and well in advance, so you can take advantage of these opportunities.

Please bear in mind: the above is a guide. We may choose to increase the boost for certain strategic partners more than the above, depending on our priorities. We will announce any adjustments to the points boosts for partners on a monthly basis.

Points: Referrals

Referrals are incredibly important for Noon. We want all our users to love using our protocol, so much so that they tell everyone all about it. Simultaneously, we want to welcome the friends of our users warmly. In order to nudge our users in this direction, we will reward as follows:

• Referrers: For those who refer other users, they will be awarded with 10% of the points earned by the wallets they have referred.

• Referrals: For those who have been referred by others, we will award them with a 2.5% points boost until the end of the current points season (TGE of $NOON governance token).

Token: Multiplier

We want to ensure that our long term users are rewarded with the most tokens. In order to do so, when users convert their points to $NOON tokens (at TGE, and thereafter), we will allow them to stake their $NOON, or receive it in their wallet unstaked. If they leave their $NOON staked in their wallet, they will receive the following token multipliers:

• 3 months: 2x

• 6 months: 3x

• 9 months: 4x

• 12 months: 5x

These multipliers will be automatically applied to your staked $NOON ($sNOON) token positions. There will be no need to lock your staked governance tokens - users will be free to unstake them at any point - but this will "stop the clock" on their token multiplier, and fix the multiple on the last time milestone they had crossed (namely, 3, 6, 9 or 12 months).

Rewards Programme: $NOON Distribution

We have spoken about how we want to be as fair as possible, and distribute as much of our governance tokens to you, our users, as possible. This means that we have allocated between 65-80% of $NOON's token supply to be distributed to our users.

We will be distributing up to 4% of the total supply of governance tokens ($NOON) for users of the private beta (assuming all users adopt the maximum token multiplier).

Over the course of the following 12 months, we estimate that we will be distributing between 15-20% of $NOON's total supply to our users. This number is hard to estimate, since we plan to adopt a dynamic distribution model. This will determine the tokens to be distributed to users in any given month as a function of total tokens remaining in the Community pool. That is to say, if more tokens are remaining in the Community pool (as a result of users opting for shorter staking periods), the more tokens will be distributed to users in the following months.