The points infrastructure behind $9.2M in deposits.

The supplied report, program exports and scoring implementation support this story. Figures use the program’s pricing-day convention, explicit holding thresholds and rounded public values. Comparisons describe one observed program and do not isolate the effect of its incentives.

Scope and identities

The export contains 181,410 address records and 6,726 deposit events from 5,737 distinct addresses. Phase one ends at the scoring model’s January 28, 2025, 13:00 UTC boundary. The deposit series begins July 20, 2024; July and January are partial months. Wallets are addresses, not independently verified unique people. The program’s zero-address exclusion is preserved.

Valuation and the revised headline

Amounts use recorded daily token prices and the scoring model’s 13:00 UTC day boundary. L2 assets use their mainnet equivalents. This yields $9,234,688 in gross deposits. A midnight UTC day convention reproduces the supplied report’s $9,141,005, about 1% lower. The site uses the program-aligned convention consistently. These are estimates, not transaction-time execution prices or an independent on-chain audit.

Missing prices

Where a pricing day is missing, the program uses the first recorded price on or after it, bounded by the available price history. Seventy-six deposits worth about $24,400, or 0.3% of gross value, use fallback prices. The longest gap is 53 days.

Gross flows, net flows and positions

Gross deposits total about $9.2M and withdrawals about $5.2M, each priced on its event’s program day. Their difference is about $4.1M in cumulative net flows. Reconstructed remaining token balances, valued at phase-close prices, total about $3.8M. These measures answer different questions and none is revenue, profit or investment return.

Positions at phase close

Token amounts are accumulated per wallet, asset and chain from recorded deposits and withdrawals. Twelve negative-balance steps are bounded at zero, matching the points engine. At the common phase-close price date, 3,645 of 5,737 depositors have positions worth more than $10 (64%). A $1 threshold gives 3,689 (also 64% rounded). These endpoint counts do not establish uninterrupted holding, and joining cohorts have different follow-up lengths.

Referral attribution

The referred group contains 2,395 depositor wallets with a recorded referrer, excluding the undefined, empty and zero-address values. They account for $6,539,800 in gross deposits, or 71%; the other 3,342 wallets account for $2,694,889. Referrer status is taken from the export and was not independently time-stamped before each deposit. This association does not establish causal acquisition lift.

Concentration and repeat deposits

Wallets are ranked by total gross deposited value. The largest 58 account for 68.4%, the next 516 for 19.1%, and the remaining 5,163 for 12.4%. Percentages may not sum to 100% after rounding. The 558 repeat depositors contributed $5,616,472, or 61%. Deposits can include withdrawn and redeposited assets; they are not unique capital.

Quest and partner measures

Positive quest-point balances identify 137,820 addresses; 3,398 also deposited. This is overlap, not proof that quests preceded or caused a deposit. The partner comparison counts first deposits on the eight UTC dates from October 31 through November 7, 2024: 482 wallets, versus 383 over the other 29 dates in the October 14–November 19 window. These are all first depositors in those dates, not verified partner-attributed acquisitions.

Why later holdings are not a retention headline

Phase-two balances in the export have different update dates across September–November 2025, and some positive balances are worth less than $1. They do not establish a common-date annual retention rate. Transfer records can also represent the sender and recipient sides of one transaction, so the raw record count is not presented as a count of token transfers.