# Coin economics

Coins are the currency of your loyalty programme. Members earn them when they trade and take part, then spend them in the [Store](https://docs.returning.ai/features/store.md) and [raffles](https://docs.returning.ai/features/raffles.md). Plan where coins come from, where they go, and what they could cost.

Last checked 29 Sep 2026

**Category**

Overview. Spans Earn, Spend and Engage.

**Your cost comes from**

Reward fulfilment and operating costs. Outstanding coins show potential future redemption exposure.

**Rewards are credited**

At different times by source. Trading follows your integration schedule, spins pay at the spin, and boosters pay after an interval.

## What members see

Coins enter from the sources you configure, sit in a member balance, then leave through a purchase, a raffle ticket or expiry.

### Sources

[**Trading rewards** Coins per lot, with rates by asset class](https://docs.returning.ai/broker-integrations/trading-rewards.md) [**Milestones** Steps such as first deposit and first trade](https://docs.returning.ai/features/milestones.md) [**Referrals** Invited members reach stages you choose](https://docs.returning.ai/features/referrals.md) [**Social quests** Social actions you configure](https://docs.returning.ai/features/social-quests.md) [**Spin the Wheel** Prizes credited at the spin](https://docs.returning.ai/features/spin-the-wheel.md) [**Boosters** A percentage on eligible earnings](https://docs.returning.ai/features/boosters.md) [**Leaderboard prizes** Coins for top places](https://docs.returning.ai/features/leaderboards.md)

Member balance **12,480** Example coins

### Sinks

[**Store** Products priced in coins](https://docs.returning.ai/features/store.md) [**Raffles** Tickets bought with coins](https://docs.returning.ai/features/raffles.md) [**Coin expiry** Eligible unspent coins expire](#what-you-control)

> Coins and XP
>
> Coins are spendable. XP is a separate progress score that can drive levels or Value Range tiers based on XP. Tiers can also follow a rolling field such as trading volume and can grant roles or tags. You can rename both. A trading rewards workflow can write coins, XP, both, or a custom field. When reversible rewards are used, custom fields need a separate standard update.

A sample balance and history with trading, referral and spin rewards plus a Store redemption. Actual history rows depend on your workflow and its labels. Recreated from the product with example data.

## What you control

Set reward rates for each source and coin prices for each product. Four settings shape supply and spending over time.

| Setting | What it does |
| --- | --- |
| Currency Earning Cap | Limits qualifying coin additions in a daily, weekly or monthly period. Set a fixed GMT offset and maximum amount from 1 to 99,999 (admin default 10,000). The daily reset is at midnight, the weekly reset on Monday and the monthly reset on the first day, in that offset. An optional premium currency award can apply at the cap, as a fixed amount or an exchange rate (admin default 100 reward to 1 premium). The cap is verified for qualifying Bulk Update additions; confirm coverage for every other source. It is not a guaranteed cash budget ceiling. |
| Coin Expiry | Choose a one-time earning window and later expiry date, or one recurring cycle in days, weeks or months with an expiry period. Monthly cycles start on the first and end at month end. Expiry notifications can be configured. Eligible earning records get an expiry date when a policy covers them. Standard Store purchases use earliest-expiring coins first. Expired balances are removed once a day, after the expiry date passes. |
| Require a visit before users can earn coins or complete milestones | Off by default. When on, qualifying positive additions for a member without a recorded visit are rejected, not banked. Milestones cannot complete before the first visit. Confirm how this setting applies to every other reward source in your programme. |
| Boosters | A percentage of eligible coins and XP earned during a daily, weekly or monthly interval. Within one booster, the highest qualifying coin and XP percentages apply separately. Separate boosters can both pay. See [Boosters](https://docs.returning.ai/features/boosters.md). |

> Cap coverage
>
> Do not assume the Currency Earning Cap covers every reward source. It applies to coins added through bulk updates (which is how trading rewards usually arrive), your integration can switch it off for an upload, and it does not limit XP. The published Update user XP and currency API is outside the Currency Earning Cap. Include these direct balance changes in your budget and reconciliation separately. Confirm the configured coverage before promising a ceiling.

**How a cycle sets coin expiry**

For a cycle-based expiry policy, the expiry period runs from the end of the earning cycle. Coins earned on different days in the same cycle can therefore share an expiry date. Confirm that date before describing how long each award lasts.

## How it works

### Trading rewards turn lots into coins

If trading is your main coin source, define these rules with your integration team. The full implementation guide is [Trading volume and rewards](https://docs.returning.ai/broker-integrations/trading-rewards.md).

- Trading rewards follow your ingestion and processing schedule. Your integration may send aggregate volume or individual events. Agree when members should expect the reward.
- For a volume based programme, keep asset classes separate. FX and metal lots have different contract rules. The workflow owns the reward categories, rates, coins, XP and rounding.
- Confirm closing side volume and the volume conversion for each exact symbol. Map every trading account to the correct member. Aggregate accounts for batch rewards, or preserve individual events when trade level reversals are needed.
- Define launch and enrolment dates, account mapping, eligible symbols, test account handling and any minimum hold time or excluded account types before awarding rewards.
- Voided trades can be reversed when your integration sends a cancellation through the same workflow in Reversible mode. The saved coin or XP effect is deducted once. A deduction can take a balance below zero.

### Set the value of a coin

Start with your target reward value per FX lot, then divide by the coins you award per lot. At the example rate, $0.50 of reward value per FX lot divided by 100 coins gives **$0.005 per coin, or 200 coins per $1**. Store coin prices follow the cash value divided by this coin value. These figures are planning assumptions, not platform defaults.

| Item | Coin price | FX lots to earn |
| --- | --- | --- |
| $10 voucher | 2,000 | 20 |
| $50 item | 10,000 | 100 |
| $100 item | 20,000 | 200 |

Another class at 50 coins per lot would yield $0.25 of example reward value per lot.

### Three redemption modes

| Mode | What it does |
| --- | --- |
| Delivery or voucher | The member receives an item or code. Your cost depends on the item, supplier and any shipping. Load valid voucher codes as Store stock. |
| Trading credit | A broker-defined credit amount under your terms. State its withdrawal and removal rules clearly. In this example, $150 credit costs the same 20,000 coins as a $100 item. Your broker system defines removal and withdrawal rules. Your estimated cost of credit belongs in the planner. |
| Trading funds | Withdrawable funds granted by your broker integration. In this example, $100 funds cost 20,000 coins. The cash amount and any fulfilment costs are yours to plan. |

> Credit needs your integration
>
> Store checkout records the coin purchase. With the account selector and fulfilment integration configured, members can choose an eligible account. Your backend grants the credit or funds after purchase. Check whether a grant succeeded before retrying or refunding, and prevent duplicate grants for one order. Every purchase consumes one valid voucher code, including credit products.

> The credit break-even
>
> At a 1.5x uplift, $1 of item value becomes $1.50 of credit face value. Credit costs less than delivery only when $1 of credit costs you less than about **$0.67**. If it costs $0.80, credit is more expensive. The planner keeps that cost as your estimate.

## Ways to use it

Six example programme patterns. Combine them to suit your goals, then test the full coin flow in the planner.

Trading

### Pure trading rebate

100 coins per FX lot in this example

- Use per-class trading rates.
- Price Store items from your coin value.
- Cost rises with volume and redemption.

Suits A clear volume-based reward programme.

Activation

### Trading plus engagement

20% example non-trading share

- Add milestones, referrals, quests and spins.
- Give new members a faster first reward.
- Forecast these coins alongside trading rewards.

Suits Programmes that reward first actions and repeat visits.

Watch Engagement rewards add issuance without being calculated from trading volume.

Store mix

### Credit-first store

1.5x example credit face uplift

- Lead with credit products.
- Keep a few vouchers or items.
- Estimate your credit cost and enforce exposure limits.

Suits Teams with a credit fulfilment integration.

VIP

### Tiered VIP with boosters

+10% to +20% example high-tier coin boost

- Use tier roles to select boost rates.
- Rank members on volume or XP.
- Budget the extra coins from top-tier volume.

Suits Programmes with a high-volume segment.

Watch Overlapping boosters can both pay.

Supply

### Controlled supply

12 months example expiry period

- Cap qualifying batch additions.
- Expire eligible unspent coins.
- Require a visit before early awards.

Suits Teams managing outstanding coin exposure.

Watch A tight cap can disappoint active members.

Campaign

### Launch sprint

2-4 weeks example campaign window

- Set time-limited reward rates.
- Offer a raffle as a coin sink.
- Use a one-time expiry policy when suitable.

Suits A new-market or seasonal campaign.

## Planning your economics

The defaults show 1,668,750 coins issued, 1,168,125 redeemed, and $4,876.92 in estimated monthly cash cost. Change the assumptions to match your programme.

Planning tool · not the admin panel

### One month of your programme

Change the rates, lots, redemption mix and store items. The calculations update as you type.

This is a forecast, not an enforced cap across features. Confirm which sources your earning cap covers before promising a maximum.

Trading volume and reward rates

Keep each asset class separate; a lot can mean different things across classes.

| Class | Monthly lots | Coins per lot | Coins issued |
| --- | --- | --- | --- |
| FX |  |  | 1,000,000 |
| Metals |  |  | 200,000 |
| Indices |  |  | 100,000 |
| Energies |  |  | 25,000 |
| Crypto |  |  | 10,000 |

Target reward per FX lot $

Non-trading share of all coins %

Coins eventually redeemed %

Typical member FX lots per month

Redemption mix

These shares must add to 100%. Credit uplift changes face value, and credit cost is your estimate.

Delivery or voucher share %

Trading credit share %

Trading funds share %

Trading credit uplift x

Your cash cost of $1 of credit %

Sample store items

Credit face values are divided by the uplift before coin pricing.

| Item | Cash or face value | Mode |
| --- | --- | --- |
|  |  | Item 1 mode |
|  |  | Item 2 mode |
|  |  | Item 3 mode |
|  |  | Item 4 mode |
|  |  | Item 5 mode |

Warning thresholds

Editable planning rules of thumb, not platform policy.

Inflation: non-trading share above %

Inflation: issued face value above target by x

Deflation: cheapest item above months

Deflation: popular item above months

Liability: unspent value above cash cost months

Total coins issued this month

1,668,750 coins

$8,343.75 issued coin face value at the planning coin value.
$4,876.92 estimated cash cost after redemption.

**Trading coins**

1,335,000

**Non-trading coins**

333,750

**Expected coins redeemed**

1,168,125

**Unspent coins**

500,625

**Coin value**

$0.005

**Coins per $1**

200

Outstanding coins show potential future redemption exposure. This planner does not determine accounting treatment.

Face value issued $8,343.75

Estimated cash fulfilment cost per modelled lot $0.325

Issued coin face value per modelled lot $0.556

12-month unspent value $30,037.50

These per-lot figures do not add separate booster, leaderboard, raffle or other prize-flow forecasts.

### Coins in

- FX: 1,000,000
- Metals: 200,000
- Indices: 100,000
- Energies: 25,000
- Crypto: 10,000
- Non-trading: 333,750

### Coins out

- Delivery: 584,062.5
- Credit: 350,437.5
- Funds: 233,625
- Unspent: 500,625

Coin value = target reward per FX lot divided by FX coins per lot. Issued coins = trading coins divided by one minus the non-trading share. Expected cash cost uses the redemption mix and your estimated credit cost.

| Measure | Coins | Cash value |
| --- | --- | --- |
| Total lots | 15,000 | Not applicable |
| Issued | 1,668,750 | $8,343.75 |
| Redeemed | 1,168,125 | $5,840.63 |
| Unspent each month | 500,625 | $2,503.13 |
| Straight-line 12-month accumulation, no expiry, before later redemptionPotential future redemption exposure at the planning coin value; this does not determine accounting treatment. | 6,007,500 | $30,037.50 |

| Mode | Coins | Cash value | Face delivered | Cash cost |
| --- | --- | --- | --- | --- |
| Delivery or voucher | 584,062.5 | $2,920.31 | $2,920.31 | $2,920.31 |
| Trading credit | 350,437.5 | $1,752.19 | $2,628.28 | $788.48 |
| Trading funds | 233,625 | $1,168.13 | $1,168.13 | $1,168.13 |
| Total | 1,168,125 | $5,840.63 | $6,716.72 | $4,876.92 |

Face value delivered per modelled lot $0.448

Typical member coins/month 625

Credit break-even cost per $1 $0.67

| Item | Coins | FX lots | Months at typical rate |
| --- | --- | --- | --- |
| $10 voucher | 2,000 | 20 | 3.2 |
| $50 voucher | 10,000 | 100 | 16 |
| $100 item | 20,000 | 200 | 32 |
| $150 trading credit | 20,000 | 200 | 32 |
| $100 trading funds | 20,000 | 200 | 32 |

| Class | Coins per lot | Reward per lot | Lots for $50 item |
| --- | --- | --- | --- |
| FX | 100 | $0.50 | 100 |
| Metals | 100 | $0.50 | 100 |
| Indices | 50 | $0.25 | 200 |
| Energies | 50 | $0.25 | 200 |
| Crypto | 20 | $0.10 | 500 |

### Warning signs

Rules of thumb, not platform policy.

- Inflation: Below threshold. Non-trading share 20%; issued coin face value $0.556 per modelled lot.
- Deflation: Flagged. Cheapest item 3.2 months; $50 voucher 16 months.
- Unspent exposure: Flagged. $30,037.50 after 12 months without expiry.

Trading credit needs your fulfilment integration. Set purchase limits and verify cumulative credit exposure. The credit cash cost above is your estimate.

Every default is an example assumption for planning, not a platform default or a rate card. Cash cost for credit is your estimate; set it to 100% for a cautious view.

## Timing and limits

- Trading reward timing follows your configured ingestion and processing schedule. Do not promise a one-hour delivery time from these examples.
- Spin prizes credit at the spin. Boosters are scheduled after their daily, weekly or monthly interval.
- Standard Store purchases consume the earliest-expiring available coins first. Confirm expiry treatment for other spending flows.
- Eligible earning records receive an expiry date only when an applicable policy covers them. Expired coins are removed once a day, after the expiry date passes; timing varies.
- Outstanding coins represent potential future redemptions at the assumed coin value. The planner does not determine accounting treatment.

**Reporting on expired coins**

Reconcile expiry against the coins actually deducted from member balances. An earning record can expire after its coins have already been spent, so expired records alone do not measure the value removed.

**How corrections and refunds affect the flow**

A configured reversible reward can deduct a saved effect when the integration sends a matching cancellation. A successful Store coin refund returns the order price once; your fulfilment integration must also handle any credit or funds it granted.

## Not supported yet

- Not supported

  Built-in credit or funds fulfilment in Store checkout

  Your broker integration grants trading credit or funds and manages account-level or programme-wide exposure.
- Not supported

  A guaranteed cap across all coin sources

  The Currency Earning Cap covers coins added through bulk updates. Confirm coverage for every other configured source.
- Not supported

  A built-in cumulative credit exposure limit

  Set purchase limits and enforce any account-level or programme-wide credit limit in your fulfilment integration.
- Not confirmed

  Member message when an earning cap trims an award

  Confirm the member experience before promising a notification.

## For your developers

Share the published [trading rewards guide](https://docs.returning.ai/broker-integrations/trading-rewards.md) and these pages with the team maintaining your integration.

- [Bulk update users from CSV](https://docs.returning.ai/api-reference/bulk-operations/bulk-update-users-from-csv.md)
- [Get bulk update job details](https://docs.returning.ai/api-reference/bulk-operations/get-bulk-update-job-details.md)
- [Update user XP and currency](https://docs.returning.ai/api-reference/users/update-user-xp-and-currency.md)
- [Get daily user XP and coin changes](https://docs.returning.ai/api-reference/gamification/get-daily-user-xp-and-coin-changes.md)
- [Search user gamification logs](https://docs.returning.ai/api-reference/gamification/search-user-gamification-logs.md)
- [Get tier configuration](https://docs.returning.ai/api-reference/gamification/get-tier-configuration.md)
- [Bulk update premium currency from CSV](https://docs.returning.ai/api-reference/bulk-operations/bulk-update-premium-currency-from-csv.md)
- [List products](https://docs.returning.ai/api-reference/store-products/list-products.md)
- [List redemption orders by community](https://docs.returning.ai/api-reference/rewards-and-redemptions/list-redemption-orders-by-community.md)
- [Update redemption order status](https://docs.returning.ai/api-reference/rewards-and-redemptions/update-redemption-order-status.md)

Example prizes, reward rates and planner figures are synthetic planning assumptions, not Returning.AI defaults or a rate card. Configuration limits and stated admin defaults are identified in the guide.