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).