Here's a summary of the new Loot Points feature (introduced on April 26, 2015). Aprone says this is all accurate, and I imagine it will be explained in the user guide for the next release of Swamp.
* Instead of going HC, leveling up to 150, then converting back as a title character, you can now gain titles just by looting... A lot. A normal character can gain the title of Private with 9,000 loot points, for instance. Yes, that's right: no need to go HC at all if you don't want to, and no need for HC characters to revert to normal if you don't want to. Title in either mode!
* Each piece of loot, or broken/special item, you find gives you loot points (crates in missions do NOT count). Normal players get 1 point for every item they find, while HC players get 3 points.
* Counting began when the /lifetime command was added, so some of you will have a few points, others will have many thousands.
* Points persist; if you die, your points will not be reset.
* Use /lootpoints or /lifetime to check your points. No names are associated with these commands, just type the word. That means that, to check the status of any character you own, you must log in as that character.
* Points do not reset when you gain a title, the next requirement simply moves up. Specialist, for instance, is 17,500 (or somewhere around there); that means you have 9,000 from gaining private, and must gain points to add to that 9,000 rather than starting back at 0. The system is very similar to Experience Points in that way.
* This feature is entirely controlled by the server, so it will not appear in the 3.5 manual. It can also be adjusted at any time, meaning that the point requirements could be altered. Be sure to check those requirements every so often.