# Season 2 When we launched the Apyx Pips program in March 2026, we made a simple promise: > Deploy capital. Earn Pips. Get airdropped APYX. Season 1 delivered on that promise with **5% of total APYX supply** allocated to early participants. Now, Season 2 begins, and in a rare move for DeFi, the reward pool is getting *larger*, not smaller. Season 2 allocates: * 6,000,000 APYX * 6% of total APYX supply * Bringing total community allocation across Seasons 1 & 2 to 11% of supply before TGE Unlike many DeFi protocols, Apyx raised **zero venture capital**. There are: * No private investor unlocks * No VC token overhang * No discounted insider allocations ahead of users Apyx grew because users believed in the future of **onchain digital credit yield** and deployed capital accordingly. Season 2 is designed to reward that conviction. ## How Season 2 Works Pips accrue daily based on the USD value of your eligible positions multiplied by the corresponding multiplier. ``` Pips = USD Value × Multiplier ``` Season 1 Pips carry forward automatically. Beginning **May 23, 2026**, all accrual transitions to the new Season 2 multipliers. Your total Season 2 Pip balance determines your share of the **6,000,000 APYX** Season 2 allocation. ## The Season 1 Loyalty Boost If you participated in Season 1, every Pip earned during Season 2 receives a 1.2x Loyalty Multiplier. There is: * No minimum threshold * Nothing to claim * No extra action required If your wallet was active during Season 1, the boost is applied automatically across all eligible Season 2 earning activity. This applies to holding, Pendle, Curve, lending, Royco positions. The loyalty boost exists to reward the earliest supporters of the protocol. ## Ways To Earn Pips Season 2 introduces refreshed multipliers and expanded earning opportunities across DeFi. You can stack multiple strategies simultaneously. ### Holding The simplest way to earn Pips. | Position | Multiplier | | ------------------------ | ---------- | | Hold apxUSD | **40x** | | Hold apyUSD | **4x** | | Commit apxUSD | **80x** | | Hold Senior Royco apyUSD | **4x** | | Hold Junior Royco apyUSD | **4x** | > apxUSD supplied into supported lending markets still earns the hold multiplier. ### Curve Liquidity Providing liquidity earns enhanced rewards for taking LP risk. Both pools earn more than they did in Season 1. | Pool | Multiplier | | ---------------------- | ---------- | | Curve apxUSD/USDC LP | **60x** | | Curve apxUSD/apyUSD LP | **24x** | ### Pendle Pendle carries the highest multipliers in the program. Pendle remains the highest-weight earning category in the program. #### Yield Tokens (YT) | Position | Multiplier | | ---------------------- | ---------- | | YT apxUSD | **128x** | | YT apyUSD | **52x** | | YT Senior Royco apyUSD | **52x** | | YT Junior Royco apyUSD | **52x** | #### Liquidity Provision (LP) | Position | Multiplier | | ---------------------- | ---------- | | LP apxUSD | **100x** | | LP apyUSD | **32x** | | LP Senior Royco apyUSD | **32x** | | LP Junior Royco apyUSD | **32x** | ### Lending & Borrowing Borrow-side activity now earns Pips across supported venues. | Activity | Multiplier | | -------------------------------- | ---------- | | Borrow on Morpho | **12x** | | Borrow on Silo | **12x** | | Future supported lending markets | **12x** | | Supported vault deposits | **4x** | > On lending markets, the borrow side earns Pips, not simple asset supply, except for supported vault deposits. ## What Changed From Season 1 Season 2 introduces several major upgrades: * Bigger Reward Pool * Season 1: 5% of APYX supply * Season 2: 6% of APYX supply * Total distributed before TGE: 11% * Liquidity Earns More * Curve LP multipliers increased across both pools. * Lending Is Now Weighted * Borrowing activity now earns meaningful Pips as apxUSD expands across DeFi. * Royco Tranches Included * Senior and Junior Royco positions now fully participate in rewards. * Loyalty Boost Added * Season 1 participants receive a 20% boost on all Season 2 Pips earned. ## Timeline | Event | Date | | ------------------ | ---------------- | | Season 2 Begins | May 23, 2026 | | Season 2 Ends | October 11, 2026 | | APYX TGE & Airdrop | October 13, 2026 | There is no gap between seasons. Positions continue accruing seamlessly into Season 2. ## Pendle Market Rollovers Current Pendle markets will mature shortly after the season transition. New markets will go live before maturity. To continue earning uninterrupted: 1. Exit maturing markets 2. Roll into the new Pendle markets 3. Continue accruing Season 2 rewards ## APYX Token Utility The APYX Token Generation Event (TGE) takes place on **October 13, 2026**. Following TGE, APYX holders will gain access to two staking systems: ### xAPYX (APYX-Denominated Staking Yield) Users stake APYX and receive xAPYX. Protocol revenue is used to buy APYX on the market and feed it back into the staking vault. Result: * xAPYX appreciates versus unstaked APYX over time * Yield compounds directly in APYX ### yAPYX (Dividend-Bearing APYX Vault) Users stake APYX and receive yAPYX. Protocol revenue accrues in apxUSD and is distributed to yAPYX holders as dividends. This extends the core Apyx model of dividend-backed digital credit directly to APYX stakers. ## Track Your Pips You can track your Pips directly inside the Apyx app under the **Rewards** tab. This dashboard allows you to: * Monitor Pip accrual * View active multipliers * Manage eligible positions * Track Season participation ## Final Notes Season 2 represents the next phase of the Apyx ecosystem: * Larger rewards * Expanded DeFi integrations * Higher liquidity incentives * Lending expansion * Loyalty-based rewards * APYX TGE approaching in October Deploy capital. Deepen apxUSD adoption across DeFi. Let the multipliers work. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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