Initiation Points & Ranks
Initiation Points (IP) are the single metric that tracks your standing in The Initiation Campaign. They determine your rank on the leaderboard and, at TGE, your proportional share of the PMX governance allocation.
IP = LP Points + Crest Points
| Component | Source | When |
|---|---|---|
| LP Points | Providing liquidity in eligible Pumex pools | Earned continuously while your position is active |
| Crest Points | Claiming Crest NFT badges by meeting milestones | One-time reward per Crest claimed |
Crest Points are covered in detail on the Crests page. This page focuses on LP Points and the rank ladder that your total IP drives.
LP Points — Continuous Earning
LP Points accrue in real time as long as your liquidity position is active in an eligible pool. Four factors jointly determine how fast you earn:
The Four Factors
| Factor | What it means |
|---|---|
| Position size | How much capital you have deployed in the pool. More capital deployed means a higher earning rate. |
| Time deployed | LP Points accrue continuously for as long as your position stays active and in range, so your total grows the longer it's deployed. The rate itself is steady — there's no compounding or loyalty bonus; you simply stop accruing during any period the position is removed or sits out of range. |
| Range | Concentrated positions set within a tight, in-range window earn faster than wide, passive positions covering a broad price range. |
| Pool multiplier | Each eligible pool carries a fixed weight that sets how fast it earns LP Points relative to other pools. Priority pools earn more IP per unit of liquidity. |
Pool Multipliers
Each eligible pool has a fixed weight. A weekly LP-Points budget is divided across the eligible pools in proportion to those weights. The exact per-pool weights are shown live in the app and are not published here — check the Pools tab in the campaign interface for the current breakdown.
The weekly LP-Points budget is not fixed — it scales up over the course of the campaign as participation grows. Earlier epochs have a smaller budget; later epochs have a larger one. Getting in early means earning during every epoch, including the larger-budget later weeks.
Eligible Pools
The following pools are eligible for LP Points. All pools are on Pumex / InjectiveEVM:
- WINJ / USDC
- WINJ / USDT
- USDT / WETH
- USDC / WETH
- WINJ / yINJ
- USDC / USDT
See Providing Liquidity for guidance on creating and managing positions.
Initiation Rank Ladder
Your total IP (LP Points + Crest Points combined) determines your Initiation Rank. Ranks are cumulative — you advance by crossing each threshold, and you never fall back below a rank you have reached.
Your rank sets your position on the campaign leaderboard.
Reaching each rank threshold also makes you eligible to claim the matching Initiation Rank Crest — an NFT badge that grants a one-time IP bonus on top of what you have already earned. See Crests for the full table and reward amounts.
Further Reading
| Topic | Doc |
|---|---|
| Crest categories, requirements, and IP rewards | Crests |
| Campaign overview and timeline | The Initiation Campaign |
| Fees and LP rewards in the base protocol | Fees & Rewards |
| Emissions and the gauge system | Emissions |