# Rewards

### Introduction

All rewards are auto-compounded within the vault.

#### Reward Sources

* **Base Staking Rewards:** Ethereum staking rewards via LSTs, such as RocketPool's rETH
* **DeFi Optimizations:** Rewards from lending, or looping strategies.
* **Partner Incentives:** Extra APR campaigns, often locked, such as 90-day pre-deposit campaigns

#### Reward Mechanics

* **Auto-Compounding:** Rewards reinvest automatically.
* **Conversion into rETH:** Regardless of source, rewards crystallize into rETH at withdrawal.

### How Rewards Are Displayed

Each strategy shows:

* **Allocation (%):** Portion of vault capital deployed in that strategy.
* **Strategy APR:** Gross APR of that strategy before fees or batching.
* **Ongoing APR:** Rewards already realized and compounding into vault NAV.
* **Pending APR:** Rewards accruing but not yet crystallized, such as campaign incentives.
* **Total APR:** Sum of ongoing + pending APR for that strategy.

The **Total Expected APR** at the top aggregates across all strategies.

#### Realized vs Pending Rewards

* **Ongoing Rewards:** Already distributed and compounding (shown under **Ongoing APR**). These remain even if you withdraw immediately.
* **Pending Rewards:** Accruing but not yet vested (shown under **Pending APR**). Withdrawing before vesting forfeits these.

*Example:* If you withdraw during a 90-day incentive campaign on day 89, your **pending APR** is lost.

### Fees

* **Service Fee (AUM):** 1% annually, applied to TVL.
* **Rewards Fee (Performance):** 10% of realized rewards.
* **Governance:** Any change requires a 30-day timelock and contract upgrade.

### Troubleshooting & Notes

* If your APR looks lower than the headline: check whether part of it is still under **Pending APR**.
* APR values update periodically (see **last updated** timestamp in top-right).