Points

caution

The weekly table and its three reads are not live yet. The reads points_weeks, points_leaderboard and points_user ship with the next archive and gateway release. Until then, each one answers 400 UNKNOWN_TYPE. Points still count from genesis, so no week is lost. When publication starts after the release, the archive publishes every past week.

Trade on the testnet and earn points each week. Each week shares a pool of 1,000,000 points among the accounts that traded, pro rata to qualifying volume. Points count from testnet genesis, 2026-09-01 15:08 UTC. At the TGE on mainnet, points convert to MTF.

Only testnet trading volume earns points. Mainnet activity earns none. The program page on the official site is mtf.exchange/tge.

Seasons

The program runs in four seasons, from testnet genesis to the TGE snapshot. The claim at the TGE is named Gimle.

Season	Name	Window (UTC)	Weeks	MTF ceiling
1	Ginnungagap	Testnet genesis to the first Wednesday cut after the TGE page goes live	5 or more	At most 5,000,000
2	Yggdrasil	Season 1 end, plus 8 weeks	8	At most 10,000,000
3	Bifrost	Season 2 end, plus 8 weeks	8	Set at season start
4	Ragnarok	Season 3 end to the TGE snapshot	the rest	Set at season start

The API and the weekly tables use the season number. The name is a label only. Season 1 counts back to genesis. The TGE page states the date Season 1 ends.

Schedule

The weekly cut is Wednesday 00:00 UTC. Week 1 runs from genesis to 2026-09-09 00:00 UTC. Every later week is seven days. The API numbers weeks from genesis: week 5 ends 2026-10-07 00:00 UTC.
The cut block is the last block with a block time before the cut.
The archive publishes a week when it holds every record up to the cut block. A published week never changes.
The last week of Season 4 is partial. It ends at the TGE snapshot, and its pool is 1,000,000 × whole hours / 168.
The TGE target is 2027-03-01. The date may move.

What qualifies

Root account. A sub-account earns as its parent. A user vault earns as its leader. Every other account is its own root. All volume of a sub-account or a user vault goes to its root.

Qualifying fill. A fill qualifies when all five of these hold:

The market is a governance-listed perpetual market. Spot pairs, builder-deployed (MIP-3) markets, options and the MTF perpetual market do not count. A spot pair has no outside price to check a fill against: its mark is its own last trade.
Neither side of the trade is a liquidation.
The fill price is inside the mark band: 0.99 × bar.low ≤ px ≤ 1.01 × bar.high. bar is the market's 1-minute mark bar for the minute of the fill. If that minute has no bar, the band uses the latest earlier bar. With no bar at all, the fill does not qualify. Read the bars with candle_snapshot, interval: "1m", candle_type: "mark".
The two accounts of the trade have different roots, and they are not in one cluster. See Cluster.
Neither side is excluded. One exception: a fill against the protocol Metaliquidity vault (vault id 1) counts for the other side when that side is the taker.

The formula

Qualifying volume (qv). For each root and each week:

raw = the sum of the notional of the qualifying fills. Maker and taker fills both count at weight 1.0.
Volume against one counterparty cluster counts up to 25% of raw. The volume above that limit is the excess. Taker volume against vault id 1 has no limit.
qv = raw − excess.
If qv is below $1,000, or the first and last qualifying fills of the week are less than 24 hours apart, qv = 0.

Points.

points = 1,000,000 × qv / max(Σqv, Q_floor)

Term	Value
`qv`	Your qualifying volume for the week, in USD
`Σqv`	The sum of `qv` over every root, for the week
`Q_floor`	$50,000,000 of qualifying volume a week
Rounding	Toward zero, to 0.000001 point

There is no per-account cap. Pro rata is linear, so one account split into ten accounts earns the same total. Each part still needs $1,000 of qv.

Q_floor bounds a thin week. When Σqv is below $50,000,000, the formula divides by Q_floor, and the week issues less than its pool. The points not issued are not paid, and no MTF is paid for them.

There is no referrer share. A referral earns the referrer no points.

Worked example

One root trades in one week:

raw volume                                   $3,000,000
volume against one counterparty cluster      $1,100,000
limit: 25% of raw                              $750,000
volume above the limit (excess)                $350,000
qualifying volume (qv)                       $2,650,000

A busy week. Σqv is $200,000,000. That is above Q_floor, so the formula divides by Σqv:

points = 1,000,000 × 2,650,000 / 200,000,000 = 13,250

The week issues its whole pool of 1,000,000 points.

A thin week. Σqv is $8,000,000. That is below Q_floor, so the formula divides by $50,000,000:

points = 1,000,000 × 2,650,000 / 50,000,000 = 53,000

The week issues 1,000,000 × 8,000,000 / 50,000,000 = 160,000 points of its 1,000,000. The rest is not issued, and no MTF is paid for it.

Rules

Rule	Statement
Scope	Only testnet trading volume earns points. Mainnet activity earns none.
Markets	Governance-listed perpetual markets only. Spot pairs, the MTF perpetual market, builder-deployed markets and options earn nothing.
Root account	A sub-account earns as its parent, and a user vault as its leader. A fill between a root and its own sub-account or vault earns nothing.
Exclusion	Protocol accounts, validators, protocol vaults and accounts operated by the MetaFlux team earn no points. A fill against an excluded account earns nothing for either side. The one exception is a taker fill against the protocol Metaliquidity vault (vault id 1).
Cluster	Two roots are one cluster when one of these links them: transfers in both directions between them, above a threshold; one agent wallet that signs for both; a closed trading group, where most of each member's volume is against the other members. A link one side makes alone, such as a small transfer to another account, never joins two accounts. Faucet grants never link accounts. A fill inside a cluster earns nothing, and the 25% rule counts a cluster as one counterparty.
Concentration	Volume against one counterparty cluster counts up to 25% of your weekly raw volume. Taker volume against vault id 1 is exempt.
Mark band	A fill more than 1% outside the market's 1-minute mark range earns nothing.
Liquidations	A trade with a liquidation on either side earns nothing.
Minimum	$1,000 of qualifying volume a week, and qualifying fills at least 24 hours apart.
Referrals	No referrer share.
Eligibility	Claims are screened at the TGE against sanctions lists and the Terms. The Terms exclude UK retail consumers from crypto-derivatives. IP data serves screening only, never scoring.
Final review	Weekly numbers are provisional. One review at the TGE snapshot may remove points for abuse. Removed points are not paid.

Excluded accounts do not appear in the weekly table or in the leaderboard. A lookup of an excluded account returns no rows, the same as an account with no raw volume. An account with raw volume but no qualifying volume has a row with 0 points.

Budget and conversion

Program ceiling: 100,000,000 MTF. It comes from the 300,000,000 MTF community airdrop allocation in Tokenomics. It is a ceiling, not a promise.
Reserved: 200,000,000 MTF. The rest of the community allocation stays reserved. No use is assigned to it.
Season ceilings. Season 1 is at most 5,000,000 MTF. Season 2 is at most 10,000,000 MTF. Seasons 3 and 4 get their ceilings at season start, inside the program ceiling.
The rate is set at the TGE, under the ceiling:

MTF per point (season s) ≤ ceiling(s) / (weeks(s) × 1,000,000)

For Season 2, that is at most 10,000,000 / (8 × 1,000,000) = 1.25 MTF per point. No fixed rate is published. A fixed rate would put a price on volume that costs nothing to make.

The upper bound per dollar. $1 of qualifying volume earns at most 0.02 points, because the formula divides by at least $50,000,000. At the Season 2 ceiling, that is at most 0.025 MTF per $1.

How to check

Not live yet: the three reads below answer UNKNOWN_TYPE until the next archive and gateway release.

You want	Read
Every published week: the pool, `Σqv`, `Q_floor`, the points issued, the block range and the hashes	`points_weeks`
Your raw volume, qualifying volume and points, per week	`points_user`
The full table of one week, or the season total, 1,000 rows a page	`points_leaderboard`

Recompute your points. Take one week from points_weeks and your row from points_user:

points = pool × qualifying_volume / max(total_qualifying_volume, q_floor)

Round toward zero, to 0.000001 point.

Check the table hash. Each week publishes table_sha256, the SHA-256 of the full table. To check it:

Read every page of the week with points_leaderboard. Stop at the first page with fewer than 1,000 rows.
Write each row as one line: address,raw,qv,points and a newline. Write each amount in millionths, as an integer: "2650000" is 2650000000000.
Sort the lines by address, in lower-case hex.
Hash the lines with SHA-256. The result is table_sha256.

printf '%s\n' \
  "0x1933587ffa064e26bf8f6c7b0fdec771644b56de,5350000000000,5350000000000,107000000000" \
  "0xac7dc3a2f08610ddc46c7a3e4f54b80745cbd8e9,3000000000000,2650000000000,53000000000" \
  | sha256sum
# a5c941fbd48fb9774d4938a4cd625f345a324562f2e19c3d80e8ae84f492828e

inputs_sha256 is the SHA-256 of the exclusion, root and cluster inputs of the week. It commits to those inputs without showing them.

gap_blocks counts the blocks of the week's range where the archive has a recorded gap in fills. The week counts the fills the archive holds. The pool does not change.

The claim: Gimle

At the TGE on mainnet, points convert to MTF at the rate of their season. The claim is named Gimle. The TGE target is 2027-03-01. The date may move.

The points-program allocation is 100% claimable at the TGE.
You can lock your claim for a bonus. See the airdrop lock bonus.
Claims are screened against sanctions lists and the Terms before they pay.

The TGE page carries the season table, the formula and the published weeks.

Seasons​

Schedule​

What qualifies​

The formula​

Worked example​

Rules​

Budget and conversion​

How to check​

The claim: Gimle​

See also​