Merge pull request #273 from mangrovedao/fix/MS1

Add new MS1 points details

docs/general/points/blast-points.md

@@ -3,11 +3,15 @@ title: Blast Points
 description: Blast Points
 sidebar_position: 6
 ---
+
 # Blast Points
 
 Apart from earning Blast points by trading on Mangrove, users will also get Blast Gold and Blast developer points that will be redistributed to users by Mangrove!
 
 - 0xb1a49C54192Ea59B233200eA38aB56650Dfb448C: Smart contract that will receive Blast Gold
-- 0x441f6a3d415708f89e4adbb6b995371554aa909e:  Points operator for the above contract
+- 0x441f6a3d415708f89e4adbb6b995371554aa909e: Points operator for the above contract
+
+The full breakdown of Mangrove’s Blast allocation with the distribution to users is available [here](https://docs.google.com/spreadsheets/d/1cCckTUMtyjvrdyc5z6wxM4w8FCJobqbsmA3ejxltrFI/edit#gid=833989404&range=A1:C1)
+You can read more about Blast Points on the [Blast Hub](https://docs.blast.io/airdrop/users)!
 
-You can read more about Blast Points [here](https://docs.blast.io/airdrop/users)!
+You can read more about Blast Points [here](https://docs.blast.io/airdrop/users)!

docs/general/points/boosts.md

@@ -5,11 +5,7 @@ sidebar_position: 3
 ---
 # Boosts
 
-**At launch, the Points page will not be available on the dApp. However, your points and boosts are being recorded and will be visible within a week. Our team is working diligently to expedite this process. Thank you for your patience! :heart:**
-
-The boost a participant receives is directly linked to their trading activity, specifically the volume traded or generated by their liquidity. This boost is active for an epoch of 7 days from Monday to Sunday and is reassessed at the end of each 7-day cycle. To maintain or attain a higher boost level, a participant needs to consistently engage in higher volume trading or generating volume through its liquidity.
-
-Here's how the boost levels are structured:
+The program features a boost mechanism, where participants' trading and liquidity provision volumes over a 7-day period determine their boost level. Higher activity levels result in greater boosts, amplifying the total points earned. To maintain or attain a higher boost level, a participant needs to consistently engage in higher volume trading or generating volume through its liquidity.
 
 | Level | Boost         | Requirements in a 7 day epoch             |
 | ----- | ------------- | ----------------------------------------- |
@@ -23,12 +19,6 @@ Here's how the boost levels are structured:
 
 This tiered system ensures that the more a participant trades or generates volume, the higher the boost they can achieve, incentivizing consistent and increased trading activity.
 
-**Example**: In the WETH/USDB Market:
-
-* If $1 million is traded in one day on this market, takers earn 1 million points (since $1 = 1 point).
-* Makers, in turn, earn 3 million points (3 times the taker's points).
-* Note: These points are allocated before individual boosts are applied.
-
 Finally, each participant's boost is applied to the LP + trading points earned from both taker and maker activities. The level of boost depends on the participant's level, which in turn is determined by their traded and generated volume.
 
-For instance, a participant with 100,000 points from taker and maker activities at Level 1 will receive a x1.75 boost, resulting in a total of 175,000 points.
+For instance, a participant earning  100,000 taker and maker points at Level 1 will receive a x1.75 boost, resulting in a total of 175,000 points.

docs/general/points/community-points.md

@@ -18,7 +18,6 @@ During the testnet, participants were able to claim 3 different NFTs on Galxe. D
 * [Mangrove Tree](https://opensea.io/collection/mangrove-tree-nft): Level 1 (x1.75 boost) and 10,000 Community points (equivalent to $10,000 volume traded)
 * [Mangrove Forest](https://opensea.io/collection/mangrove-forest-nft): Level 2 (x2.5 boost) and 60,000 Community points (equivalent to $60,000 volume traded)
 
-**These rewards are going to be implemented in the days following the Blast Mainnet launch.**
 
 :::caution
 We do not encourage that you buy an NFT on the secondary market, because we have to take a snapshot on the Blast Mainnet Day. If you buy afterwards, you will not be eligible for any bonus or rewards.
@@ -29,4 +28,3 @@ Wallet addresses that participated in the Beta Mainnet are rewarded with a speci
 * Level 3 (x3 boost)
 * Community points depending on volume generated and volume traded, to be distributed later.
 
-**These rewards are going to be implemented in the days following the Blast Mainnet launch.**

docs/general/points/disclaimer.md

@@ -1,14 +1,14 @@
 ---
 title: Disclaimer
 description: Disclaimer
-sidebar_position: 7
+sidebar_position: 10
 ---
 
 # Disclaimer
 
-We reserve the right to modify point and level calculations at any time. 
+We reserve the right to modify point and level calculations at any time.
 
 :::caution
 Wash trading is strictly prohibited in the MS1 Points Program, and any participant found engaging in wash trading will have their points revoked.
 For more information, refer to the [Terms & Conditions](https://www.mangrove.exchange/terms-of-use) page.
-:::
+:::

docs/general/points/faq.md

@@ -0,0 +1,33 @@
+---
+title: FAQ
+description: FAQ
+sidebar_position: 9
+---
+
+# FAQ
+
+- How do you LP on Mangrove?
+
+  Mangrove LPs, also called makers, are the users that deploy liquidity via limit orders and Kandels. The MS1 Points Program main goal is to attract good quality liquidity to Mangrove so LPs get a higher share of the rewards vs takers, also known as traders.
+
+- Who are Mangrove traders?
+
+  You are a trader when your swap using market orders, Mangrove traders correspond to takers of orders on Mangrove markets.
+
+- I have proceeded to >$10k of transactions, how come I have no boost?
+
+  Boosts are computed along a period of roughly one week and only applied to the following epoch, so there will be a delay between the moment you generate volume, and when you receive boosted points. More details on the [boost section](./boosts.md)
+
+- I have traded $500k but received few points?
+
+  The MS1 Points Program aim is to shape Mangrove’s order book with the best price and market depth of Blast. As such the program favours Liquidity Providers (makers) over traders (takers).
+
+- How to optimise your MS1 farming?
+
+  The MS1 Points Program aim is to shape Mangrove’s order book with the best price and market depth of Blast rather than make everyone happy. As such users that contribute to making Mangrove liquidity Blast’s reap the most rewards. Typically the program favours market makers, with competitive liquidity meaning its positioned on both sides of the book, and liquidity that is very close to the market price to reduce the spread. More details in section Trading & LP Points or on the whitepaper.
+
+  To make this system more equitable, Mangrove Kandel is a complex market making strategy available to any user. This is one of the easiest ways to develop and efficient market strategy. It provides very high liquidity for Mangrove’s order book, on both side of the book, with good upside. Feel free to join the Kandel Alpha Chat for guidance
+
+- Why are points and incentives so concentrated on the top of the leaderboard?
+
+  The current points distribution is based on the formula shared in the whitepaper and parameters shared in the section Parameters per Epoch. It is a fair distribution given it is impartial; rewarding the behaviours required for this goal without favouritism or discrimination. Users that take the time to truly understand the game can reach the top of the leaderboard, extremely quick. We’ve seen for example a user make 1B points in less than a week, surpassing other farmers. Given the complexity that can be implemented in Mangrove’s programmatic orders, sophisticated investors are in a better position to optimise their strategies for farming.

docs/general/points/params-per-epoch.md

@@ -0,0 +1,11 @@
+---
+title: Parameters
+description: Parameters per Epoch
+sidebar_position: 7
+---
+
+# Parameters
+
+The Mangrove Season 1 Points Program can evolve from epoch to epoch to encourage the most beneficial behaviors for a specific epoch.
+
+[This table](https://docs.google.com/spreadsheets/d/1cCckTUMtyjvrdyc5z6wxM4w8FCJobqbsmA3ejxltrFI/edit#gid=0) recaps all epochs, boosts and parameters.

docs/general/points/points-details.md

@@ -6,39 +6,30 @@ sidebar_position: 2
 
 # Trading & LP Points
 
-**At launch, the Points page will not be available on the dApp. However, your points and boosts are being recorded and will be visible within a week. Our team is working diligently to expedite this process. Thank you for your patience! :heart:**
-
 ## Trading Points
 
-Trading points are awarded to takers on a daily basis, depending on the volume traded by takers and a predetermined weight for each market.
+Takers earn points daily, based on their trading volume within the Mangrove DEX and a specific weight for each market.
 
-| Market                | Points                         |
-| --------------------- | ------------------------------ |
-| WETH/USDB             | Every $1 traded equals 1 point |
-| mwstETH-PUNKS:20/WETH | Every $1 traded equals 1 point |
-| mwstETH-PUNKS:40/WETH | Every $1 traded equals 1 point |
+For example, in the WETH/USDB markets, every $1 traded equals 1 point, motivating participants to increase their trading activity.
 
 ## Liquidity Provision Points
-Liquidity Provision points are awarded to makers on a daily basis, depending on the daily trading points and a predetermined weight for each market.
 
-| Market                | Points                                           |
-| --------------------- | ------------------------------------------------ |
-| WETH/USDC             | Makers earn 4 times the points earned by takers. |
-| mwstETH-PUNKS:20/WETH | Makers earn 4 times the points earned by takers. |
-| mwstETH-PUNKS:40/WETH | Makers earn 4 times the points earned by takers. |
-
-The distribution of points among makers isn't purely proportional to the volume generated by their liquidity. 
+One of the core goals of the MS1 Program is to reward a balanced orderbook, in order to do this, we currently reward those who keep their positions balanced at a higher rate than those who do not.
 
-:::info
-Maker points 𝜶 Uptime x Depth x Volume 
-:::
+Because of this, you will gain greater rewards if you have bids and asks on the book at the same time, if you look at the paper linked below, you will see this:
 
-Maker points depends on:
-1. Uptime
-2. Proximity of their liquidity to the mid-price
-3. Volume generated by their liquidity (taken by takers)
+$$
+D(m,t) = \min\left(\sum_i\frac{a_i^t}{s_i^t},\sum_j\frac{b_j^t}{s_j^t} \right)^d
+$$
 
-For a detailed description of the MS1 points calculation, refer to the <a target="\_blank" href={require('/static/img/assets/MS1.pdf').default}>MS1 Whitepaper</a>.
+What this means is that your points are based on the minimum points you gained from your asks and your bids. With no asks for example, you will get only a small reward.
+
+Makers contribute to the ecosystem's health by providing liquidity, earning points for their crucial role, with a predetermined weight for each market. The best quality liquidity close to the market price and on both sides of the book gets rewarded the most.The distribution of points among makers isn't purely proportional to the volume generated by their liquidity.
 
+The calculation encapsulates the essential contributions of Makers, rewarding consistency (uptime), market relevance (proximity to the spread), and the effectiveness of the liquidity provided (volume).
 
+**Competitive Makers**: These are the pillars of market efficiency, providing liquidity that's on both sides of the book and closely aligned with the current market prices, thereby ensuring minimal spreads.
 
+**Non-Competitive Makers**: Recognized for adding to the market's liquidity pool, these Makers might offer asymmetric liquidity at prices farther from the market's current rate. The program still rewards them but emphasizes encouraging more market-conducive offers over time.
+
+For a detailed description of the MS1 points calculation, refer to the <a target="\_blank" href={require('/static/img/assets/MS1.pdf').default}>MS1 Whitepaper</a>.

docs/general/points/points.md

@@ -11,27 +11,32 @@ import useBaseUrl from '@docusaurus/useBaseUrl';
 * [TL;DR](#tldr)
 * [Trading Points](./points-details.md#trading-points)
 * [Liquidity Provision Points](./points-details.md#liquidity-provision-points)
+* [Parameters](./params-per-epoch.md)
 * [Boosts](./boosts.md)
 * [Referral Points](./referral-points.md)
 * [Community Points](./community-points.md)
+* [Technical Insights & Defence Mechanisms](./technical-insights.md)
 * [Blast Points](./blast-points.md)
+* [FAQ](./faq.md)
 * [Disclaimer](./disclaimer.md)
 
 ## TL;DR
-The Mangrove Season 1 Points Program is designed to reward active participants, known as 'Takers' (traders) and 'Makers' (liquidity providers), in the Mangrove ecosystem. Points are allocated based on specific rules and individual performance in trading and liquidity provision. Participants can also earn points through referrals and community engagement.
+The Mangrove Season 1 Points Program rewards active participants, known as 'Makers' (liquidity providers) and 'Takers' (traders) in the Mangrove ecosystem. Points are allocated for trading activities, liquidity provision, referrals, and community participation. The scheme is structured as follows:
 
 
 $$
 Total\ points = (Trading\ Points + LP\ Points) * Boosts + Referral\ Points
 $$
 
+=======
 :::note
 Community Points do not contribute to Total Points for Leaderboard Rankings. They will be allocated specifically after the MS1 program concludes
 :::
 
-* **Trading Points**: Determined by market-specific weightings and calculated based on trade volume. Includes market and limit/amplified orders (in a scenario where LO is partially filled with market order).
-* **Liquidity Provision (LP) Points**: Also market-weighted, calculated from uptime, liquidity's proximity to mid-price, and generated volume. Includes limit orders, amplified orders and strategies.
-* **Boosts**: A tiered level system increasing LP and trading points, determined by trading volume and volume generated.
+* **Trading Points**: Calculated based on trade volume, with different weightings for each market. Includes market, limit and amplified orders,where the limit order is partially filled with market order
+* **Liquidity Provision (LP) Points**: Derived from uptime, liquidity's proximity to mid-price, and generated volume and also market weighted. Includes limit orders, amplified orders and strategies.
+* **Boosts**: A tiered level system increasing LP and trading points, determined by consistent activity and volume levels.
+
 * **Referral Points**: Gives a 10% bonus in points for both referee and referrer, based on the referee's LP and trading points.
 * **Community Points**: Gives points to past and future active participants in MangroveDAO-organised campaigns.
 

docs/general/points/referral-points.md

@@ -3,27 +3,30 @@ title: Referral Points
 description: Referral Points
 sidebar_position: 4
 ---
+
 # Referral Points
-The Referral Program is designed to reward DeFi users who introduce active traders and liquidity providers to Mangrove.
+
+Encouraging ecosystem growth and a tight community, the Referral Program rewards users who introduce active traders and liquidity providers to Mangrove. Both referrer and referee receive a 10% bonus on trading and LP points.
 
 ## How does it work?
 
-1. You refer a new participant
-2. They trade/provide liquidity on Mangrove
-3. Their benefits: they get the equivalent of 10% bonus on their Trading points and LP points as Referral points.
-4. Your benefits: you earn 10% of the Trading points and LP points your referee makes each day as Referral points.
-*Their referral's points are unaffected by the extra 10% points that you receive.*
+1. Access the referral page on [Mangrove dApp](https://app.mangrove.exchange/referrals)
+2. Select “Create a referral link” and sign the transaction on your wallet
+3. Share your link on social media and with your friends
+   - For each maker & trader point they generate they get 10% extra as Referral points.
+   - You earn 10% of their boosted maker and taker points as Referral points. Their points are unaffected by the extra 10% points that you receive.
+
+🥳There is no limit on the number of referrals. The more friends join the party, the more points for you!
 
-## Rules
-* No limit on the number of referrals.
-* Works on top of the boost system, which means that you receive your referral points after the bonus is allocated, your boost level doesn’t affect your referral points.
+🎈You receive your referral points based on the boosted amounts of points earned by the referee. However your own boost level doesn’t affect your referral points.
 
 ### Example
 
 1. Bob refers Alice to Mangrove.
-2. Alice earns 50 Trading points and 50 LP points = 100 points.
+2. Alice earns 100 points from her market volume.
+3. Alice has her boost applied, giving her an end total of 250 points
 
-* Alice's bonus: Receives an extra 10 points (0.1*100) as a referral bonus, totaling 110 points.
-* Bob's benefit: Earns 10 points (10% of Alice's original 100 points) for referring Alice.
+- Alice's bonus: Receives an extra 25 points (0.1 \* 250) as a referral bonus, totaling 275 points.
+- Bob's benefit: Earns 25 points (10% of Alice's boosted 250 points) for referring Alice.
 
 This referral program rewards both Alice for her activities and Bob for bringing a new participant to Mangrove.

docs/general/points/technical-insights.md

@@ -0,0 +1,23 @@
+---
+title: Technical Insights & Defences
+description: Technical Insights & Defence Mechanisms
+sidebar_position: 8
+---
+
+# Technical Insights & Defence Mechanisms
+
+Mangrove has thought a lot about making sure the points system is fair and can't be easily tricked. The underlying maths discourages cheating, like making many small trades to yourself to earn points.
+
+The whitepaper elaborates on the complex calculation formulas for determining points, aimed at accurately reflecting each participant's contribution to the DEX.
+
+A unified scoring system aggregates points across different roles (maker/taker) and markets, allowing for a comprehensive leaderboard that reflects participants' overall contributions. This aggregation is first per day, but the daily points are only indicative, as the points are further adjusted per epoch to consider the overall contribution.
+
+The whitepaper discusses how this system flexibly adapts to changing market conditions and participant behaviors to ensure ongoing engagement and market health.
+
+Specific mechanisms are designed to counteract potential manipulations such as washtrading and Sybil attacks. Where a user might try to game the system by splitting activity across multiple addresses, the scoring formula advantages unified, consistent liquidity provision over fragmented efforts. To secure points, users need to reach a minimum volume across the period.
+
+The program employs detailed mechanisms to ensure that splitting liquidity does not provide an unfair advantage, thereby maintaining fairness and integrity within the ecosystem.
+
+### Bounties for whistleblowers
+
+If a user provides proof (not suspicions) of washtrading which is banned, they will receive a bounty in the form of community points. We define washtrading as transactions where the maker and taker wallets are the same entity.