Protocol Announcement:

Ion Protocol’s Open Launch – The First Step…

May 13, 2024

We’ve kept you waiting long enough, now it’s time to open the floodgates.

After completing our mainnet closed beta, access to Ion Protocol begins today!

During the closed beta, Ion Protocol reached over $10 million in total deposits from our early community members, testnet contributors and ecosystem partners, bootstrapping the first cohort of markets including weETH, rsETH, and rswETH. This marks a significant milestone for Ion, and we’re excited to begin our first referral and points program. Users will be able to immediately begin accruing rewards across multiple markets on both the lending and borrowing side by:

Accessing Ion via referral link
Depositing in the different vault integrations that are already public

Let’s dive into the details below!

Unveiling Our Incentive Plans

No launch is complete without points! Early users of Ion Protocol will be able to earn points directly from Ion and our LRT partners. Once access is gained to Ion’s web app, Ion Points accrue based on the amount of capital deposited in lending and borrowing positions and the amount time the position is open. But that’s not all, here are all the ways you can start accruing points immediately:

Lender-side Deposits: Earn Ion Points by depositing wstETH or ETH into one of our LRT markets you’ll receive extra LRT points from the LRT providers
Borrow-side Deposits: Earn and multiply Ion Points and points from your favorite LRTs by depositing any supporting LRTs as collateral and borrowing wstETH or ETH against them
Vault Integrations: Earn all the same rewards as above and any incentives and rewards provided by our yield optimizer partners
Referrals: Become an Ion Protocol power user by referring others and boosting the Ion Points you earn while helping the protocol grow
Quests: Perform quests curated by the team at Ion to gain access to special prizes

Ion Points Structure

Ion Protocol introduces a dual-sided reward system, catering to both lenders and borrowers across all markets:

Lender Side Rewards: 10x Ion Points in all markets. Lenders can receive additional multipliers to their points accrual within DeFi integrations, amplifying their earning potential as TVL increases
Borrow Side Rewards: Borrowers can earn up to 14x Ion Points as well — the more that’s borrowed, the more that’s earned. This system allows borrowers to significantly increase their points accrual, subject to future adjustments in loan-to-value (LTV) ratios to enable even higher leverage

Collateral Partner Points

Lender Side Rewards

2x EtherFi Points for the EtherFi market by depositing wstETH
2x Kelp Miles for the rsETH market by depositing wstETH
2.5x Swell Pearls for the rswETH market by depositing wstETH

Borrow Side Rewards

Up to 14x EtherFi points and Ion Points via leverage
Up to 14x Kelp Miles and Ion Points via leverage
Up to 14x Swell Pearls and Ion Points via leverage

Referrals on Ion

To gain access to Ion’s web app and begin benefiting from all the opportunities we’ve created for users, you’ll need to be referred via an official Ion Protocol referral link.

This referral program will last for ⬜ months or until the protocol reaches ⬜ ⬜ ⬜ ⬜ ⬜ ⬜ ⬜ ⬜ ⬜ TVL.

How does it work?

All users can see the referral link creation page and if they are eligible, can generate their referral link
Users who are already whitelisted will immediately be able to generate a referral link
Users who access to Ion via a referral link can generate their own referral link after they earn 120 Ion Points
Alternative distribution methods to look out for:
- Threadoors
- Partner Protocols of Ion
- Ion’s Discord community
- Ion Protocol Quests such as Galxe or Zealy

Steps to Gain Access To Referrals:

Enter Ion Protocol via Referral Link
Go to Ion Protocol’s lending or borrowing tabs to deposit and begin earning Ion Points
After 120 Ion Points are earned, then go to the referral page
Click the generate referral link button and share to earn more Ion Points!

Looking Ahead

As Ion Protocol begins to expand, there will be regular updates regarding new markets, integrations, and additional incentives. And this is just the beginning…

Join us early to gain access to ⬜ ⬜ ⬜ ⬜ ⬜ ⬜ ⬜ ⬜ announcing in the next few weeks…