> The index of every page is at https://docs.nova.markets/llms.txt. The complete documentation in one file is at https://docs.nova.markets/llms-full.txt.

# Conviction Points

Address: https://docs.nova.markets/#/points
Section: Conviction Markets

Earned by trading and by providing liquidity to the Conviction Pool, and yours until you use them. Spend on Conviction Drops and receive Conviction Tokens.

## What they are

Conviction Points are the balance you back markets with. Every Conviction Drop is decided by them, and every Drop's token distribution is computed from them. While a Drop is open, Conviction Points continue being accrued.

## How you earn Conviction Points

- **Trade Nova’s markets or on Hyperliquid through Nova’s Trading Terminal.** Every trade earns, start trading at https://app.nova.markets.
- **Deposit in the Conviction Pool.** Capital accrues points continuously while it backs the markets. Deposit at https://app.nova.markets/earn/liquidity-pools.
- **Referrals.** A share of what the people you bring in earn. It costs them nothing, and everyone earns extra.

## Referrals

Attribution is explicit and permanent: once an account registers your code, a share of its base activity accrues to you: 10% to you, 5% extra to them. One level deep. No recursion, and no retroactivity: activity before registration counts for no one.

## Spend, or stack

Backing spends points. Skipping is free and unlimited, and you keep earning while you sit out, so a balance started on day one, left alone, walks into a later Drop big enough to decide it. Being early is never wasted: your balance compounds until you choose to use it.

## Spending and receiving Conviction Tokens

You spend points at Conviction Drops to receive Conviction Tokens. If you back a market, you spend at least 25% of your balance. The full rules of backing live in [Conviction Drops](https://docs.nova.markets/conviction.md).

## Rates

Set by Nova, adjusted between Drops, and frozen for each Drop when it opens. What applies today is in the app. Changes are never retroactive.