> For the complete documentation index, see [llms.txt](https://docs.origami.tech/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.origami.tech/origami-points-program.md).

# Origami Points Program

Origami Points rewards eligible trading activity through Origami Tech and direct referrals. Each reward period, called an epoch, has a budget of up to 1,000,000 Points shared across three categories:

| Category  | How you earn Points                                                                                                         |
| --------- | --------------------------------------------------------------------------------------------------------------------------- |
| Volume    | Your share of eligible weighted trading volume.                                                                             |
| PnL       | Your share of eligible positive net realized PnL from fully closed futures positions, adjusted for market weights.          |
| Referrals | A share of the Volume and PnL Points earned by your eligible direct referrals; 10% unless announced otherwise for an epoch. |

Eligible activity can include manual orders and Origami trading bots. Spot markets can earn Volume Points. Futures markets can earn Volume and PnL Points where eligible.

Origami Points are program points. Their future utility or any potential conversion has not yet been announced and will be communicated separately.

### Participation and eligibility

Project owners with a connected exchange account are enrolled automatically. Activity is counted from the later of your participation start time or the time the account was connected. Earlier activity is not counted retroactively.

For PnL, the position must also have been opened on or after that account's eligibility start time. A position opened earlier does not qualify, even if it closes during a later epoch.

Eligibility is specific to each exchange and market. A market may support Volume rewards without supporting PnL rewards. Check the eligibility rules, weights and any minimum volume requirement for the relevant epoch.

Your eligible accounts across projects you own are combined when calculating your results.

### Volume Points

Volume Points are based on the USD notional value of eligible fills from orders placed through Origami, multiplied by the applicable exchange and market weight.

> **Volume Score = Σ (Eligible USD Fill Volume × Applicable Volume Weight)**

Your share of the Volume pool equals your Volume Score divided by the total Volume Score of qualifying participants.

* Both opening and closing fills can contribute to Volume.
* Only executed fills count. Unfilled orders and the unfilled part of cancelled orders contribute no volume. Executed fills from a partially filled, cancelled order can still qualify.
* Each eligible fill is counted once within the connected account.
* Fills from orders placed outside Origami do not earn Volume Points.

An epoch may set a minimum trading volume requirement. This threshold uses eligible USD volume **before weights**. Only confirmed fills count toward the minimum. If your volume is below the threshold, you receive no Volume Points for that epoch; eligible PnL Points are unaffected. If no minimum is set, there is no volume threshold for participation.

### PnL Points

PnL Points reward **positive net realized results from fully closed eligible futures positions**.

A position qualifies only if at least one of its fills comes from an Origami order. That fill can open, increase, reduce or close the position. A position with no Origami fills does not qualify.

The entire eligible position is counted only after it is fully closed. Partial closes do not earn PnL Points while the position remains open. Once fully closed, its result belongs to the epoch containing its final closing timestamp.

For example, if you open a position in one epoch, partially close it in the next and fully close it in a third, its eligible PnL is counted in the third epoch.

#### Net results and fees

Eligible profits and losses are combined across your eligible accounts and markets before applying weights. Trading fees are included, and rebates reduce those fees.

> **$1,500 profit − $500 loss = $1,000 eligible net PnL**
>
> **$1,000 profit − $1,000 loss = $0 eligible net PnL**

If the combined result is zero or negative, you receive no PnL Points for that epoch. Volume Points are unaffected. A higher weight on a profitable market does not turn a zero or negative combined result into a positive score.

Losses from previous epochs do not carry forward. Spot PnL, unrealized gains and losses, funding payments, borrowing interest and collateral revaluation are excluded.

#### How PnL weights work

Profits and losses are first combined within each market, then across markets, without weights. If the combined net PnL is positive, it is multiplied by the average PnL weight of markets with a positive net result, weighted by each market's net profit.

For example, $1,000 profit and $800 loss on the same market leave $200 of net profit for that market's contribution to the average weight, rather than $1,000.

Let:

* **G** be positive net eligible PnL after combining profits and losses.
* **m** be the average PnL weight of your profitable markets, weighted by each market's net profit.

> **PnL Score = G × m**

Your share of the PnL pool equals your PnL Score divided by the total eligible PnL Score of all participants.

#### Data verification

PnL is verified against the exchange's closed-position history, including fees, the opening fill and order origin.

PnL verification works on an **all-or-nothing basis for each participant and epoch**. If any of your positions in an epoch is not yet confirmed, your entire PnL for that epoch is shown as **0** and earns no PnL Points. The displayed zero does not mean your actual result has been confirmed as zero.

Once all required position data is confirmed, your eligible PnL can be included in the calculation. Finalization does not wait for every participant's PnL to be confirmed: PnL that is still unconfirmed when the epoch is finalized earns no PnL Points for that epoch. Verified Volume can be counted independently.

### Market weights and changes

Volume and PnL have separate weights, so the same market can contribute differently to each category.

Market eligibility and other epoch settings are fixed once the epoch begins. Market weights may change during an active epoch, with the change announced **at least one hour before it takes effect**.

Weight changes apply prospectively:

* Volume fills before the change retain their previous weight.
* Volume fills after the change use the new weight.
* An eligible position opened before a weight change and fully closed after it uses the lower of its opening and closing PnL weights.

### Points allocation

The **1,000,000-Point epoch budget includes Volume, PnL and Referral Points together**. Referral rewards are funded from this budget.

When both trading categories have eligible scores, the trading pool uses the following default split, **unless announced otherwise for an epoch**:

| Trading category | Default share of the trading pool |
| ---------------- | --------------------------------- |
| Volume           | 70%                               |
| PnL              | 30%                               |

The size of the trading pool depends on the share of eligible trading activity belonging to participants with valid inviters.

#### Exact calculation

Let:

* **B = 1,000,000**, the epoch budget.
* **α** be the Volume share of the trading pool; **0.70** unless announced otherwise for an epoch. The PnL share is **1 − α**.
* **r** be the referral rate; **0.10** unless announced otherwise for an epoch.
* **v** be your share of the eligible Volume Score.
* **q** be your share of the eligible PnL Score.
* **f** be the combined trading share of participants whose inviter relationships qualify for that epoch.
* **T** be the trading pool after allowing for Referral Points.

When both categories have eligible scores:

> **Your Trading Share = α × v + (1 − α) × q**
>
> **T = B / (1 + r × f)**
>
> **Your Volume Points = T × α × v**
>
> **Your PnL Points = T × (1 − α) × q**
>
> **Your Referral Points = r × your eligible direct referrals’ Trading Points**

Trading Points means Volume Points plus PnL Points. This calculation keeps all three categories within the epoch budget.

If no participant has an eligible PnL Score, the trading pool is allocated entirely through Volume. If no eligible Volume Score exists, it is allocated entirely through PnL. The trading shares and referral allowance are calculated using the remaining category. If neither category has eligible activity, no Points are distributed, and the unused budget does not automatically carry forward.

### Referrals

You earn **10% of each eligible direct referral's Trading Points, unless announced otherwise for an epoch**.

For example, at the default 10% referral rate:

> Your referral earns **8,000 Volume Points + 2,000 PnL Points**.
>
> Their Trading Points = **10,000**.
>
> Your Referral Points = **1,000**.

Referral Points earned by the invited participant are excluded from this calculation. The program has one referral level, so Points do not compound through referral chains.

Each participant can have one valid inviter. An inviter code can be linked before the participant's first published Points distribution. To generate rewards for a particular epoch, the relationship must be established before the invited participant starts participating in that epoch. Otherwise, referral rewards begin with the next epoch.

Existing direct relationships from Origami's cash referral program may carry over where applicable. Cash commissions and Origami Points are separate rewards with different rules.

Self-referrals, circular referrals and referrals between accounts controlled by the same participant are not eligible and may be removed by an administrator.

### Epochs and finalization

An epoch is a defined reward period. The default duration is seven days; use the announced start and end times for the relevant epoch. All epoch times are in UTC.

The starting timestamp is included. Activity at the ending timestamp belongs to the next epoch. Volume is assigned by the exchange's execution time, while PnL is assigned by the fully closed position's final closing timestamp. The time when data arrives at Origami does not determine the epoch.

Points and rankings during an active epoch are estimates and can change as additional data is verified.

By default, the data collection cutoff is **48 hours after the epoch ends**. This cutoff may be extended if more time is needed to verify exchange data. Finalization takes place manually after the cutoff; Points are not automatically finalized at the 48-hour mark.

Only finalized Points are added to your confirmed all-time balance.

### Leaderboards and public information

Current-epoch rankings show estimated results. Past epochs show finalized results once finalization is complete; until then, their results remain estimates. All-time rankings reflect accumulated finalized Points.

Rankings can be viewed by Total, Volume, PnL and Referrals. The epoch PnL leaderboard ranks participants by their signed monetary PnL in USD. Other leaderboards rank by Points and show only participants with Points in the selected category.

Equal ranking values share a rank using the **1, 1, 3** ranking system.

Public leaderboard information includes your rank, Points, confirmed trading volume in USD and signed PnL in USD. The epoch PnL leaderboard includes negative results, even though a negative net result earns no PnL Points.

Your public alias identifies you. If you have no alias, a masked email is displayed, such as **ni***@g***.com**. Participants cannot opt out of public leaderboard visibility.

Exchange-account identifiers, balances, individual orders and individual trades are not public.

### Verification, disqualification and corrections

Origami verifies activity before awarding Points. Stable fill identifiers prevent the same fill from being counted repeatedly within a connected account. Replacing API credentials or re-syncing that same connection does not create additional credit.

Separate connections to the same exchange account are not automatically deduplicated across connection IDs. Activity from known duplicate connections can be excluded from rewards by an administrator.

Artificial activity, including wash trading, duplicate activity, self-referrals and referral loops, may be excluded. Using bots, market-making, hedging or arbitrage does not by itself constitute abuse; manual and automated activity follow the same eligibility rules.

An administrator may disqualify a participant, which removes all of their activity from an open epoch. An administrator may also stop a participant's participation: results confirmed before the stop are kept and remain eligible for distribution, while later activity is not counted.

Finalized distributions may be corrected. Adjustments are recorded internally with a reason, the affected epoch and the change in Points. Updated Points and the epoch's corrected status reflect the adjustment; the reason is not exposed through the public API. An adjustment can increase or decrease your confirmed balance. Recalculations must continue to respect the epoch budget.