Napier

October 22, 2026

Napier Points Program Update

A simpler rewards program designed to support the growth of the Napier ecosystem.

A simpler rewards program designed to support the growth of the Napier ecosystem.

Effective Date: October 13, 2026, at 1:00 PM GMT (13:00 UTC). The updated Napier Points Program has been in effect since this time.

Current Program Rules: As of the publication of this article on October 22, 2026, the rules described here are the latest applicable rules of the Napier Points Program. Where previous announcements or documentation differ, these rules supersede the earlier terms for Points accrued on or after the effective date. Valid Points earned before that time remain unchanged.

Napier is introducing an update to the Napier Points Program, establishing a simpler and more predictable framework for rewarding liquidity provision.

Since its introduction, the Points Program has evolved alongside the Napier ecosystem. Previous updates expanded the NPR allocation for Points holders and introduced a fixed Points supply cap to improve predictability.

As Napier's markets continue to develop, the program must also adapt to support long-term liquidity growth.

This update introduces a fixed-rate rewards model, simplifies eligible activities, and revises the Points supply framework.

All previously earned valid Points will be preserved, and the allocation of 15% of the total NPR supply to the Points Program remains unchanged.

1. What Remains Unchanged

Two fundamental commitments of the Napier Points Program will remain in place.

All Existing Points Remain Valid

All previously earned valid Napier Points will be preserved.

The updated program will not reset or reduce existing valid Points balances.

Points earned through previous versions of the program or eligible campaigns will remain eligible for future NPR allocation.

Existing Points will be combined with Points earned under the updated program to determine each user's NPR allocation at the Token Generation Event (TGE).

The 15% NPR Allocation Remains Unchanged

The allocation of 15% of the total NPR supply to the Napier Points Program remains unchanged.

At TGE, NPR will be distributed proportionally based on each user's valid Points balance.

The final conversion ratio will be determined by the total amount of valid Points outstanding at the conclusion of the program.

Points earned by Napier DAO will be burned in accordance with the existing rules and excluded from NPR conversion.

While the total NPR allocation remains unchanged, individual allocations will depend on each user's share of the final valid Points supply.

Further details regarding the TGE snapshot, final conversion ratio, and distribution procedures will be announced separately.

2. A Simpler Way to Earn Points

The updated Points Program introduces a fixed-rate rewards model focused on liquidity provision.

Previously, Points were distributed proportionally from a predetermined weekly allocation. Under the new framework, rewards will be calculated based on the USD value of eligible LP positions and the duration of liquidity provision.

LP Reward Rate: 0.25 Points per $1 of eligible LP value per day

Points will be calculated as follows:

Points = Eligible LP Value (USD) × Holding Duration (Days) × LP Reward Rate

This model establishes a consistent basis for calculating rewards, allowing participants to estimate Points accrual directly from their eligible liquidity positions.

The LP Reward Rate may be adjusted based on program requirements and the development of the Napier ecosystem. Any adjustments will be announced in advance and will apply only to future Points accrual.

Weekly Points Distribution

Points will be calculated, distributed, and credited to user balances on a weekly basis.

The daily reward rate serves as the basis for calculating Points and does not imply daily distribution.

Once finalized, Points will be reflected in users' balances and Points History in the Napier App following each weekly distribution.

Eligible Markets & Activities

Under the updated program, only markets created by Verified Curators will be eligible for Points rewards.

Liquidity providers in eligible markets will earn Points based on the USD value of their LP positions and the duration of their liquidity provision.

As part of this transition, new Points accrual will be discontinued for the following activities:

Market Curation
YT Holding
PT Lending
Referral Program

These changes have been in effect since October 13, 2026, at 1:00 PM GMT (13:00 UTC), and do not affect valid Points earned before that time.

3. Supporting the Long-Term Growth of the Napier Ecosystem

The Napier Points Program is designed to incentivize participation and support the continued growth and adoption of the Napier ecosystem.

As part of this update, the previously established maximum supply of 6 billion Points has been removed.

Why We Are Revising the Points Supply Framework

In April 2025, Napier introduced a 6 billion Points supply cap to provide greater certainty around future distributions and limit dilution.

Under the updated framework, Points issuance will be tied directly to eligible liquidity provision rather than a predetermined weekly distribution pool.

Maintaining the previous supply cap would constrain the program's ability to continue rewarding liquidity as participation and eligible markets expand.

Removing the cap allows the program to support the growth of Napier Markets and liquidity provision more flexibly over time.

What This Means for Existing Points Holders

We recognize that removing the supply cap changes the expectations established under the previous program.

Existing valid Points balances will remain unchanged. However, as additional Points are issued, existing balances may represent a smaller proportion of the total valid Points supply.

Because the NPR allocation to the Points Program remains fixed at 15% of the total NPR supply, future Points issuance may affect the final NPR allocation attributable to each Point.

This trade-off is an important consequence of transitioning to an activity-based rewards model, and we believe it is important to communicate it clearly.

4. Transparency & Future Updates

Predictability and transparency remain important principles of the updated Points Program.

The new framework is intended to make Points accrual easier to understand while retaining the flexibility required to support the continued development of Napier Markets.

The following principles apply:

Prospective Changes: Adjustments to the LP Reward Rate will be announced in advance and will not retroactively affect previously earned valid Points.
Weekly Distribution: Points will continue to be calculated and credited on a weekly basis.
Preservation of Existing Points: Previously earned valid Points will remain eligible for NPR allocation.
NPR Allocation: The 15% allocation of the total NPR supply will remain unchanged.

The updated rules took effect on October 13, 2026, at 1:00 PM GMT (13:00 UTC). Any subsequent changes to these rules will be communicated through official Napier channels.

5. Frequently Asked Questions

When did the updated Points Program take effect, and which rules apply?

The updated Points Program took effect on October 13, 2026, at 1:00 PM GMT (13:00 UTC). As of October 22, 2026, this article describes the latest rules. These rules supersede conflicting terms in earlier announcements for Points accrued from the effective date onward. Valid Points earned before that time remain unchanged.

Will my existing Points be affected?

All previously earned valid Points will be preserved. The updated program will not reset or reduce existing valid Points balances.

However, future Points issuance may reduce the relative share of the total valid Points supply represented by existing balances.

Why is the 6 billion Points supply cap being removed?

The updated rewards model calculates Points based on eligible LP value and holding duration rather than distributing a fixed weekly pool.

Removing the cap allows the program to continue rewarding eligible liquidity provision as the ecosystem expands.

Does the 15% NPR allocation still apply?

Yes. The allocation of 15% of the total NPR supply to the Points Program remains unchanged.

Individual NPR allocations will depend on each user's proportion of the total valid Points supply at the conclusion of the program.

What happens to Points earned from activities that are no longer eligible?

All valid Points earned through previously eligible activities will remain valid.

New Points accrual from discontinued activities ended on October 13, 2026, at 1:00 PM GMT (13:00 UTC).

Can the LP Reward Rate change?

Yes. The LP Reward Rate may be adjusted to reflect program requirements and ecosystem development.

Any changes will be announced in advance and applied prospectively.

6. What's Next

The updated Napier Points Program establishes a simpler framework for rewarding liquidity provision and supporting the long-term growth of the Napier ecosystem.