Fermi alien points: Season 1 Live, MEV Victims Get Bonus

Fermi alien points went live for real on November 1, when Season 1 of the Solana perps venue's rewards program started counting trading, open interest and resting orders. Fermi Trade's docs describe 26 weekly epochs running to May 2, 2027, with a hard cap of 5.26 million points for the season. The program also hands a one-time bonus to Solana users who were hit by sandwich attacks.

What actually happened

Fermi Trade is an on-chain trading venue on Solana. Its ALIEN program had a pre-deposit phase from October 20, when only deposits into its FLP vault earned points. From November 1, all five categories switched on: FLP vault, resting depth, volume, open interest and referrals.

AirdropTracker listed Fermi among its new perps points programs for the week of October 26 to November 1, labeling it "Likely" and noting the docs were marked draft. The docs page still carries a draft status note, saying values can change but that changes will be published in advance.

Epochs close each Sunday at 00:00 UTC. Fermi says provisional points appear within 48 hours, stay open to review and appeal for 14 days, and then become final.

How fermi alien points are split

Each epoch has two sources. The floor is guaranteed: 50,000 points in epoch 1, falling evenly to 20,000 by epoch 26, all going to liquidity providers. The curve depends on cumulative qualified volume and can release up to 3.6 million points over the season.

The curve is split 20% to liquidity, 37.5% to volume, 37.5% to open interest and 5% to referrals. Within liquidity, the FLP vault gets 70% of points in epoch 1, shrinking to 25% by the end, with resting depth taking the rest.

Some rules are strict. Maker volume counts at half weight. Open interest only counts if a position is open for an hour or more and is capped at five times account equity. Vault deposits withdrawn within seven days lose their points. Self-trading, wash trading, sybil farming and spoofing are excluded.

Points are not tokens. Fermi says so itself, in plain words, in its own FAQ.

The MEV victim bonus

The most interesting part is the retroactive gift. Fermi used a public dataset of Solana sandwich attacks from October 2025 to June 2026 and found 268,276 eligible victim wallets. Each gets between 100 and 1,000 points, scaled by the square root of the estimated loss.

The docs put the median estimated loss at $8, worth 135 points, and the total at about $16.4 million. Known sandwich operators were removed. We explained how sandwich attacks drain Solana traders in solana sandwich attacks.

It is a smart marketing move: Fermi pitches its order execution as protected from front-running and rewards the people most likely to care.

Should you farm it?

Keep the scale in mind. The whole season tops out at 5.26 million points, while the one-time MEV allocation alone is about 45.6 million. Fermi has not said how the two pools would compare if points ever turned into something, so nobody can value a point today.

That depends on what you already do. If you trade perps on Solana anyway, the early curve rate rewards activity now more than later. If you would only trade to farm, remember there is no announced token and fees and losses are real.

Other perps venues are running similar programs. We looked at one in ice hyperliquid perps, and AirdropTracker lists several more this month. Spreading thin across all of them rarely pays.

What to do as a reader

Read the official ALIEN points docs before depositing anything. Note the seven-day vault lockup rule and the claim windows, since unclaimed points can expire.

Check whether your Solana wallet qualifies for the MEV bonus on Fermi's points page. That costs nothing but a wallet connection, though you should only connect wallets you use for trading, never your main storage wallet.

Treat fermi alien points as a loyalty score, not income. Nothing here is investment advice, and points programs can change rules or end without a token.