> For the complete documentation index, see [llms.txt](https://docs.zofinance.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.zofinance.io/z-points.md). # Z Points Everything you need to know about Z Points

Z Points: the first points program bought back in SUI

Z Points are a balance you hold in your wallet. Each point has a price in SUI. You can keep them, spend them to level an S Card, or sell them back for SUI during an open week. Selling is limited. The protocol buys points only with the SUI set aside for that week, and only up to the quota your referees earned. Points you receive for trading, providing liquidity, or being liquidated can be more than that quota. The extra points stay yours. They do not create extra SUI. In the beginning, a week is one epoch. The buyback opens, points and quotas are published, and the week closes. The next week starts only after the previous one is closed. ### What the week pays Liquidity providers keep 10% of trading fees. The rest 90% goes to Z Points Buyback. The Z Points Buyback uses the treasury’s share of trading fees, including fees from traders who have no referrer. The operator chooses how much of that amount to deposit. The default is all of it. The deposit is the entire buyback for the week. Sales cannot pay out more than what was deposited. ``` deposit = trading fees × 90% × the week’s percentage ``` ### Two numbers The deposit sets how many points can be sold. Activity sets how many points are minted. Minting does not add SUI, and a sell quota does not mint points. ``` sellable points = deposit / price points minted = sellable points × mint coefficient ``` The price is the SUI price of one point at the moment the week opens. The default mint coefficient is 2, so a week mints twice as many points as the deposit can buy back. The coefficient can be set lower or higher for that week. It cannot be higher than 10. At a price of 0.01 SUI and a deposit of 100 SUI, the week can buy back 10,000 points. At the default coefficient it mints 20,000 points. ### How points are minted The minted points are split into three slices. The default split is **40% trading, 40% liquidity, and 20% liquidations**. The slices are shares of the mint, so they always add up to the week’s mint. They are not a second claim on the SUI deposit. Your share of a slice is your weight divided by everyone else’s weight in that slice. **Trading.** Your weight is the volume of positions you opened or decreased during the week. When a keeper fills your order, that volume counts for you. **Liquidity.** Your weight is the ZLP, USDZ, and SLP you hold in your wallet or in the staking pool, multiplied by the trading fees that pool earned during the week. A larger share of the pool that produced the fees gets a larger share of the liquidity slice. Positions on other venues are not counted. Existing liquidity counts. You do not have to deposit more during the week. **Liquidations.** Your weight is the size of your own positions that were liquidated, including positions opened by your limit orders. The points go to you, not to the account that sent the liquidation. One wallet cannot receive more than 10% of the liquidation slice. Anything above that cap is shared with other liquidated traders, or left unminted if it cannot be placed. You can receive all three in the same week. They arrive as one Z Points balance.

### How selling works Your sell quota is your share of this week’s treasury fee. That fee is the treasury’s 90% of trading fees, including fees from traders who have no referrer. ``` your SUI = this week’s treasury fee × (fees your referees paid / all referee fees) ``` That SUI is the most you can receive by selling that week. At the week’s price, it is a maximum number of points. You can sell any Z Points you hold, including points from earlier weeks, up to that maximum. A wallet with no referees has no quota. The protocol will not buy its points that week. Referring yourself does not count. Unused quota expires when the week closes. Unsold points stay in your wallet. Next week they can be sold only if your referees earn you a new quota. Selling pays the price from the moment the week opened. If the price steps up during the week, this week’s sales still pay the opening price. The higher price applies to new buys and to the next week. ### The price The opening price is 1 point = 0.01 SUI. It is set when the buyback is created. Every time another 210,000 points have been minted, including points people buy with SUI, the price rises by 2.1%. A higher price does not put more SUI into the buyback. The deposit is still the ceiling. The same deposit then mints fewer points, and a seller burns fewer points to collect the same SUI.

### Buying points You can buy Z Points with SUI during an open week. Buying does not raise your sell quota. The week’s purchase cap is at most 25% of the sellable points, and it can be set lower. One wallet can buy at most 10% of that cap, and never more than 10,000 points in the week. SUI paid to buy points is locked. It is not used to pay sellers. It is held for liquidity for future token launch. ### S Card Z Points and the older card points are separate. Adding Z Points to a card does not change the old points balance, and the old balance cannot be sold in the buyback. You can move Z Points onto your S Card, and you can move them back into a wallet object later. Leveling spends the Z Points sitting on the card. The cost depends on the card’s current level: ``` cost = 1,000 + 2,000 × level × level ``` The first level costs 1,000 points. A card can reach level 25. Points spent on a level are gone. Points you move back off the card can be sold in a later week if you have a quota. ### After the week When the week closes, any SUI that was not sold against goes back to the treasury. That includes quota nobody used and any part of the deposit that was never assigned. Z Points you still hold remain yours. They can level a card, or wait for a week in which your referees trade again. At token launch, new weeks, sales, and purchases stop. Points still held are a weight in the token allocation. They are not a promise that one point redeems for the last mint price. The SUI locked from purchases is much smaller than outstanding points times that price, and the launch pool is built from the SUI that was actually locked.