Allo Game: Flatiron Ends, Metropolitan Begins

USD.AIOctober 14, 2026

Allo Game: Flatiron Ends, Metropolitan Begins

TL;DR

Season 3 of the Allo Game, Metropolitan, starts with a 7% minimum yield on sUSDai. If sUSDai yield drops below 7% at any point, the protocol’s Yield Reserve tops it up. This floor is the CHIP Hurdle Rate.

Season 2, Flatiron, ends October 14, Metropolitan starts right after, and Season 2 CHIP claims open October 20.

Here is how Season 2 went and what changes next.

Season 2 ends October 14 at 11:59 p.m. UTC (7:59 p.m. ET). Season 3 starts immediately after.
No action needed on positions. Keep qualifying positions where they are and they start earning Season 3 points.
225M CHIP (2.25% of supply) goes to Season 2. Check estimates from October 15, report any issues by October 19, and claim from October 20 to January 31, 2027.
Introducing the CHIP Hurdle Rate: starting at a 7% minimum sUSDai yield from Season 3. If yield falls short, the difference is paid from the Yield Reserve. Both the CHIP Hurdle Rate and the Yield Reserve balance will be shown on the app.usd.ai dashboard. This rate may change in the future.
Season 3 runs to April 14, 2027, with new multipliers and no referrals.
ICO aligned participants in the eight-month Level Up can claim their unlocked CHIP and USDC refund from October 15 on the Vault tab of the CHIP page.

Season 2 (Flatiron) Rewards and Key Dates

The Season 2 airdrop is 225 million CHIP, or 2.25% of total supply, shared across all Season 2 points. The pool also covers CHIP for integration partners. Unlike Season 1, there is no ICO or airdrop alignment to choose. Every point counts toward the airdrop.

Date (UTC)	What happens	What to do
Oct 14, 11:59 p.m.	S2 ends. Points stop accruing and a final snapshot is taken.	Nothing required. Positions you keep in place start earning Season 3 points right away.
Oct 15, 00:00	S3 starts. The app shows each wallet's final S2 points and estimated CHIP airdrop. The review period runs through Oct 19.	Check your points and est. CHIP allocation. If something looks off, report issues in the Telegram channel or Support Chat.
Oct 15	ICO aligned participants in the eight-month Level Up can claim their unlocked CHIP and USDC refund.	Claim both at https://app.usd.ai/chip?tab=claim
Oct 19	Review period ends.	Final CHIP allocations are published.
Oct 20, 15:00 (11 AM ET)	S2 airdrop claims open on Arbitrum. No lockup, no vesting.	Claim your CHIP in the app.
Jan 31, 2027	Claim window closes.	Claim before this date. Unclaimed CHIP is forfeited.
Apr 14, 2027	Season 3 ends.

ICO aligned participants in the eight-month Level Up: from October 15, claim your unlocked CHIP and your USDC refund of the valuation difference on the Vault tab of the CHIP page. This is separate from the Season 2 points airdrop. Four month locks and airdrop participants from Season 1 have nothing left to do. See the Level Up terms for details.

Season 2 (Flatiron) by the Numbers

Season 2 ran from February 19 to October 14, almost eight months. Over that time, GPU loans on the books grew from $6.7 million to $311 million, after peaking at $401 million in late September. That growth was funded by everyone who held, looped and provided liquidity for USDai and sUSDai. Figures below are as of October 14 unless noted.

Protocol growth

sUSDai TVL grew 64%, from $336 million to $549 million.
Total TVL (USDai and sUSDai) rose from $522 million to $660 million. It more than doubled from its $280 million low in early April.
sUSDai earns 6.9% net APY today. Season 3 sets a 7% minimum through the CHIP Hurdle Rate (see below).

Where sUSDai yield comes from

sUSDai earns from three sources: interest on performing loans, interest on loans in escrow, and yield on stablecoin reserves.

Source	Gross yield
Performing loans	3.63%
Loans in escrow	1.59%
Stablecoin reserves	2.85%
Total gross	8.07%
Net to holders, after protocol fees	6.89%

sUSDai holders have earned $15.2 million after fees: $8.5 million from GPU loans and $6.7 million from PYUSD reserve yield.

Loans took over. Loans earned almost nothing in February and about two thirds of September's $2.63 million ($1.76 million).
Monthly earnings doubled, from about $1.3 million in March to $2.6 million in September.
Realized yield after fees rose, from about 5.2% in April to 6.0% in August and 6.6% in September.
October 2: first loan sale through GLX. The $98.1 million Duos Edge AI facility was sold to an institutional buyer, and loans on the books moved from $401 million to $311 million. More on GLX in the announcement.

Figure 2. Cumulative sUSDai holder earnings through October 14, 2026.

Points

About 904 billion points were earned from deposits, or about 955 billion Allo points including referrals.
Daily points grew 1.6x, from about 3.51 billion in the first week to 5.73 billion in the last week.

Where points were earned

Pendle and Fluid earned about 87% of deposit points between them.
From late May, sUSDai smart collateral on Fluid (T2/T4) became the largest single source, about 36% of each day's points.
Solana went live in September. Jupiter Lend now earns about 10% of daily points, and Morpho borrowing against sUSDai ramped up the same month.

Figure 5. Share of daily points by opportunity.

Top 100 wallets

The top 100 wallets earned 699 billion points, about 73% of all Allo points including referrals: 669 billion from strategies and 30.3 billion from referrals. Their strategy mix:

Opportunity	Share of top 100 points
sUSDai smart collateral (Fluid T2/T4)	34.8%
sUSDai single asset collateral	26.0%
sUSDai Pendle YT	17.5%
USDai Pendle YT	12.3%
sUSDai in wallet	2.6%
USDai in wallet	0.6%
USDai Pendle LP	0.4%
Other	5.8%

Figure 6. Where the top 100 wallets earned their points, as of October 14, 2026.

Season 3: Metropolitan

Season 3 introduces the CHIP Hurdle Rate: a 7% minimum yield for sUSDai. Whenever sUSDai yield falls below 7%, the Yield Reserve tops it up to 7%.

sUSDai yield comes from interest on GPU loans and from the stablecoin reserves held between loans. With GLX, seasoned loans are sold to institutions and the capital is recycled into new loans. Between a sale and the next loan, that capital sits in stablecoin reserves, which earn less than loans. The CHIP Hurdle Rate keeps holder yield steady through those cycles.

Season 3 starts at 00:00 UTC on October 15, immediately after the Season 2 snapshot, and runs six months to April 14, 2027. Season 3 points start from zero and share a separate CHIP pool.

Goals

Ultra sound yield. sUSDai that is highly liquid, with reliable mechanics and a competitive yield, and reducing dependence on CHIP emissions to harden CHIP economics.
GLX. Growing loan volume and turnover through the GPU Loan Exchange, where seasoned loans are sold to institutions and the capital is recycled into new loans.

What earns points

USDai and sUSDai earn points in any qualifying position: in your wallet, as collateral on lending markets, in Pendle and Exponent, and in liquidity pools. CHIP liquidity pools also earn points. There is no minimum balance and no cap. See the full list on the Opportunities page.

Multipliers

Each multiplier is the points earned per day for every $1 in the position. The lowest is 1x.

Opportunity	Multiplier	Points paid on
sUSDai in wallet	1x	sUSDai held
sUSDai single asset collateral (Morpho, Fluid, Euler, Jupiter Lend, Kamino)	3x	sUSDai supplied as collateral
sUSDai smart collateral (Fluid T2/T4)	4x	The whole LP position
sUSDai liquidity (Pendle LP, Exponent LP, sUSDai/USDai pools)	4x	sUSDai in the position
sUSDai YT (Pendle, Exponent)	6x	Underlying sUSDai
Locked YT sUSDai (Feb 25, 2027 expiry)	10x	Underlying sUSDai, until Feb 25
USDai in wallet	2x	USDai held
USDai/USDC DEX LP (Curve, Fluid DEX, Balancer, Aerodrome)	8x	USDai in the position
USDai Pendle LP	8x	USDai in the position
USDai Pendle YT	10x	Underlying USDai
Locked YT USDai (Feb 25, 2027 expiry)	15x	Underlying USDai, until Feb 25
CHIP LPs (Uniswap, Aerodrome)	12x

Locked CHIP and sCHIP do not earn Season 3 points.

Referrals

Referral boosts are removed for Season 3. In Season 2 they were mostly self referrals, which added points without bringing in new users.

FAQ

What is the CHIP Hurdle Rate?

Starting in Season 3, the CHIP Hurdle Rate sets a 7% minimum yield for sUSDai. If the yield from loans and stablecoin reserves falls below 7%, the difference is paid from the Yield Reserve, so holders still earn at least 7%. sUSDai earns 6.89% net today. The Yield Reserve is funded by the treasury at first, and over time by GLX gain-on-sale revenue.

When does Season 2 end?

Points stop accruing on October 14 at 11:59 p.m. UTC.

Do I need to withdraw or move anything?

No. Keep your positions where they are. Qualifying positions start earning Season 3 points right after the snapshot.

Do Season 2 points carry over to Season 3?

No. Season 2 points convert to CHIP from the 225 million CHIP Season 2 allocation. Season 3 points start from zero and share a separate pool.

When will I know how much CHIP I'm getting?

From October 15, the app shows your final Season 2 points and an estimated CHIP amount. Final allocations are published October 19.

What if my points look wrong?

Contact the team in the Telegram channel or Support Chat by October 19.

When and where can I claim?

From October 20, 2026 at 11 AM ET to January 31, 2027, at app.usd.ai/chip. Claims are on Arbitrum with no lockup or vesting.

Which positions earn Season 3 points?

Every position on the Opportunities page: USDai and sUSDai in your wallet, as lending collateral, in Pendle and Exponent, in liquidity pools, plus CHIP liquidity pools. No minimum, no cap.

I was ICO aligned in the eight-month Level Up. What do I do?

From October 15, claim your unlocked CHIP and your USDC refund of the valuation difference on the Vault tab of the CHIP page. This is separate from the Season 2 airdrop claim.

Do referrals still earn points?

No. Referral boosts end with Season 2.