> For the complete documentation index, see [llms.txt](https://docs.realfi.co/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.realfi.co/mainnet-participation/what-is-the-voyager-season.md).

# What is the Voyager Season

All you need to understand the first Mainnet Season.

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### What is Voyager Season?

Voyager Season is RealFi's rewards program for early users during the initial phase of our protocol launch. As you use the protocol – providing liquidity and lending – you earn R-Points.\
\
R-Points are a record of your participation. They have no monetary value, are non-transferable, and create no entitlement to RFG or any other token. At the end of the Season, RealFi GP intends to allocate a fixed pool of RFG among eligible participants in proportion to each participant's share of valid points, subject to the Points Program Terms, eligibility requirements and applicable law. Points depend on the size, duration and type of eligible positions.\*

### Who can take part

Voyager Season is unavailable to Prohibited Persons and to anyone located in, or resident in, a Prohibited Jurisdiction, including the United States, each as defined in the RealFi Terms of Service. Participation may require identity verification. Points earned in breach of these restrictions, including through a VPN or other tool used to disguise location, are void and will be removed.

### How R-Points work

Every eligible position earns points based on its dollar value and a position-specific multiplier. Points accrue continuously and are recorded once a day. Recorded points remain provisional until final allocation and may be adjusted or revoked under the Points Program Terms.

**What counts as a dollar:**

* USDrf and USDCx are valued at $1.00
* sUSDrf is valued at $1 x its current exchange rate
* ADA is valued using an hourly market price

This means you can check the position values behind your point total against public on-chain data. Final point totals also reflect eligibility and anti-abuse reviews.

### Ways to earn, and their multipliers

Yield is variable, is not guaranteed, and depends on the performance of the underlying portfolio and market conditions. Capital is at risk. Points are earned independently of yield.

<table data-header-hidden><thead><tr><th width="177.7916259765625"></th><th width="158.880126953125"></th><th width="121.8802490234375"></th><th></th></tr></thead><tbody><tr><td><strong>Position</strong></td><td><strong>Where</strong></td><td><strong>Multiplier</strong></td><td><strong>What it is</strong></td></tr><tr><td><strong>LP USDrf / USDCx</strong></td><td>SundaeSwap</td><td>50x</td><td>The flagship pool – provides peg depth and swap liquidity</td></tr><tr><td><strong>Supply USDCx into sUSDrf Market</strong></td><td>Liqwid</td><td>30x</td><td>Funds the looping market used to mint and stake more USDrf</td></tr><tr><td><strong>LP sUSDrf / USDrf</strong></td><td>SundaeSwap</td><td>15x</td><td>Gives stakers a secondary-market route ahead of the unstaking cooldown, subject to available liquidity and price</td></tr><tr><td><strong>Supply USDrf as collateral</strong></td><td>Liqwid</td><td>10x</td><td>Straightforward lending of USDrf</td></tr><tr><td><strong>First swap into USDrf via Lace</strong></td><td>Lace</td><td>10x</td><td>One-time bonus for your first Lace-routed swap</td></tr><tr><td><strong>Borrow USDCx against sUSDrf</strong></td><td>Liqwid</td><td>5x</td><td>Used to loop into more USDrf and staked sUSDrf</td></tr><tr><td><strong>Everything else</strong></td><td>–</td><td>0x</td><td>Idle or staked USDrf with no active position earns nothing</td></tr></tbody></table>

*Borrowing and looping positions use leverage. If collateral values fall or rates move against you, positions may be liquidated and you may lose some or all of your deposit. Points should never be the reason to take on risk you would otherwise avoid.*

### Genesis boost

For the first four weeks of the Voyager Season, every point earned is boosted by 50%. The boost applies only to points earned during that window, and those points remain subject to the Points Program Terms.

### Referrals

Invite others and earn a bonus on top of your own points – 10% of what your direct referrals earn. Referral bonuses activate once you've earned 5,000 lifetime points.

### How rewards are calculated

At the end of the Voyager Season, your share of the fixed reward pool is proportional to your share of all valid points earned. Suspicious or fraudulent activity is reviewed on a continuous basis and removed before final allocations are calculated, which protects genuine participants' shares.\*\*

### A few things to know

* Points are tracked based on the actual value of your positions – larger, longer-held positions earn more.
* Multipliers can change over time. Multiplier changes apply going forward only. Separately, points remain provisional until final allocation, and RealFi GP may adjust or revoke points, including points already recorded, to correct errors or to address fraud, abuse or ineligibility.
* Accounts flagged for inactivity or suspicious behavior stop earning points (and stop generating referral bonuses for whoever referred them).

### Terms

\*The Operator, RealFi GP, may add, remove, re-rate or cap any qualifying action, and may adjust any award or cap, prospectively at any time. No action, award or cap is guaranteed. R-Points have no monetary value and confer no right to any token. Participation is subject to the RealFi Terms of Service and the Points Program Terms, which govern if anything on this page conflicts with them. You are responsible for any taxes arising from your participation. More information on R-Points can be found here: <https://docs.realfi.co/essential-policies/points-program-terms>

\*\*Details on when the season ends, and how and when rewards are claimed, will be announced separately as the program progresses. Claiming rewards may be subject to vesting, identity verification and the eligibility restrictions in effect at the time of claim.