The tradition of Awesome Points evolved from Action Points over the course of our 4e campaign, which carried over to our 5e game. We don't use inspiration as written. From our House Rule document:
AWESOME POINTS (APs)
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Gaining APs:
* Each PLAYER (not PC) starts each SESSION with one AP.
* Controlling more than one PC does not grant the player extra APs.
* Each player can only hold one AP at a time.
* To regain their AP, players need to be nominated by another player (not DM) for an action that is, like, totally awesome, whether it be by way of mechanical resolution ("Whoah, awesome roll, man!") or in-game narrative awesomesauce (even if said narrative flourish is mainly provided by the DM).
* The above rule is limited only by that no APs were spent during the resolution of the nominated action.
* Fishing for AP nominations is not forbidden per se, but it's generally super lame. It is more forgivable if it was obviously very awesome, but people are simply too carried away with the game to remember to nominate.
* AP-farming, players strategically nominating each other for unremarkable actions to boost the party's overall output, is likewise not strictly forbidden but is against the spirit of the mechanic and will be openly mocked.
Spending APs:
* Players can spend an AP to gain advantage on any roll to which advantage is theoretically applicable to by the rules, even if said roll already has disadvantage.
* Player can spend an AP to gain an extra action during a round.
* Player can spend an AP to bend the rules of the game to perform, like, totally awesome "stunts" beyond the intended purpose or scope of the relevant mechanics. All such requests need DM-approval and DM-adjudication for mechanical resolution. Each specific "stunt" can only be performed once during the campaign, unless the DM considers that it would be, like, totally cool to do a repeat for some reason (see RULE OF COOL).
* The AP "stunt" mechanic should not be taken as to mean that the DM is above allowing the rules to be stretched to do cool




outside of it's usage (see RULE OF COOL).
* Players can spend an AP for a character that they themselves do not control, effectively gifting said AP to another player.
* There is no limit to how many APs can be used for a character in a round or how many can be stacked on a single action. If anything, Awesome Stacking is encouraged.