Season 1 Finale: Level Up

Allo Game participants now have access to an exclusive set of outcomes for Season 2.

After proving that we can turn the first $100m of GPUs into productive stablecoin yield, USDAI is ready to scale to billions.

We're on track for $1.5 Bn worth of loans in 2026.

To bridge the gap to S2 we're introducing Level Up.

Level Up to the Max

Your Level Up Score is based on your total points from Season 1 in either Alignment.

Your Level Up Score determines how many Pendle YTs you need to lock.

Deposit Pendle YTs to meet you Level Up Score.

You can mint YT’s with our 1-click vault that automatically splits your deposit into YT and PT, adds PT to LP to earn yield, locks the YT, and tracks your position.

Or you can mint YTs manually and take the PTs to use on your own terms

Earn up to 6-10% yield with sUSDai, including the 4.5% $PYUSD incentives, or get a major discount to your investment.

The Standard path for the CHIP ICO opens on CoinList from February 22-27 at a $300M fully diluted valuation.

Level up from the standard path: participate in the ICO, receive your CHIP at TGE, trade freely.

Achieving your Level Up Score unlocks exclusive bonus offers for Allo Game ICO and Airdrop participants.

With Level Up, Allo Game participants now have access to Boost and Max strategies.

ICO Path: Refund Right & Discount Right

BOOST OWN: Lock for 4 months

• Full Refund Rights for 4 months @ $300m at anytime
• Discount valuation of $270m FDV if held through maturity
• Earn S2 points

MAX OWN: Lock for 8 months

• Full Refund Rights for 8 months @ $300m at anytime

• Discount valuation of $190m if held through maturity

• Earn S2 points.

In both strategies, ICO buyers voluntarily lock their CHIP for 4 or 8 months for a full Refund Right, the ability to return your CHIP tokens and receive 100% of your original USDC/USDT contribution to the ICO. Your principal is fully protected for the duration of the lock.

You can choose to exercise this at anytime during the duration of your lock.

If CHIP trades below your purchase price, you can use the refund right and walk away with your entire ICO contribution. The length of the Refund Right is tied to path you decide to go (4 or 8 months)

On top of that, the longer you lock, the lower your effective entry price, but only if its held to maturity. That is the Discount Right.

Refund Right vs. Discount Right

At any point during your lock period, you have three options:

You can use your Refund Rights any time before maturity, but using them forfeits your $CHIP and Discount Rights

You can also unlock your $CHIP anytime, however, early unlock forfeits your Discount Rights.

If you hold to maturity: you receive Discount Rights at $190M (8-month) or $270M (4-month), distributed using USDC, and all CHIP purchased in the ICO is released.

$CHIP locking is voluntary. You can claim the refund or withdrawal at any time. But if you unlock before your commitment period ends, the Refund and Discount Rights are forfeited.

Additionally, all contributed YTs will remain locked until maturity.

The Refund and Discount rights are capped at your total ICO allocation valued at $300M FDV.

Airdrop Path: Premium Buyout

If you received a S1 Airdrop allocation, you have a limited-time opportunity meet your Level Up Score and earn a premium buyout to ICO price.

BOOST EARN — Lock for 4 months

• Earn a $350M implied valuation, paid at TGE
• Limited capacity. If demand exceeds supply, allocation is pro rate

• Season 2 points

MAX EARN — Lock for 8 months

• Earn a $420M implied valuation, paid at TGE
• Limited capacity. If demand exceeds supply, allocation is pro rate
• Season 2 points

Capital for the premium buyout is sourced from other investors.

There is one critical difference from the ICO path: once you commit to the airdrop buyout, the decision is irreversible. You are burning your points for a fixed payout. Your PT can still be used for other DeFi activities while locked.

Deadlines

Feb 18-25: ICO and Airdrop Offer Window.

Feb 22-27: CoinList ICO. Purchase CHIP with USDC/USDT.

ICO participants must contribute to the CoinList ICO before Offer Window closes.

TGE for CHIP will be in March

Are You Aligned?

Lastly, for the final week of the Allo Game, Alignment multipliers for YTs for both USDai and sUSDai are being increased to 60x.

This will help everyone choose the side they want to end up on.

Season 2 begins shortly. If you have been with us since Season 1, this is the moment to decide what your next move is.