Contango points

Contango has an ongoing points system in place since the 24th of January 2024, to incentivize product usage and community engagement. The points system consists of several phases:

Phase 1

It ran from the 24th of January 2024 until the 27th of March 2024. Its goal was to incentivize product usage by stimulating volumes and open interest, as well as gather product feedback, reward bugs reporting and community content.

The total points distributed for this phase were 5,548,359, plus 21,329,416 points for early users of Contango v1 (since 2022) and v2 (since 2023).

Phase 2

The second phase run from the 28th of March 2024 until right after TGE, the 4th of November 2024.

More Contango supply was allocated to this phase, so that users of the previous phase won’t get diluted.

During this phase a fixed amount of 1,000,000 points was distributed per week. Extra points were allocated to bugs reporting on Discord, at the discretion of the Contango team.

The formula used to reward trading activity is detailed in this blog post.

Phase 3

Currently, Phase 3 (and the following ones) are rewarding traders with up to 2% of TANGO each year for 3 years. Traders can multiply their points via the XP system.

More details can be found in this section.

Ongoing partnerships with Ether.fi and KelpDAO give an extra 3x points multiplier to related instruments from these protocols.