Points Summary

What are Points?

Numerous protocols without native tokens are currently running incentive programs where users can participate in specific activities to earn points. There is speculation that these points may eventually be convertible to the project's token. This trend has led to a surge in points farming, particularly with EigenLayer and Liquid Restaking Tokens (LRTs).

Why can't you trade points normally?

A challenge arises as these points are stored off-chain and linked to wallets (EOAs). This means users must wait until their points are converted into tokens to receive rewards for their efforts unless they are willing to compromise their private keys.

Michi's Solution

Pichi addresses this issue by allowing users to earn points and sell them without relinquishing access to their private keys. Sellers can monetize and offload their points position, while buyers can increase their exposure to the underlying protocol.