Reward Structure

This page outlines the reward structure

USDC Vault deposit rewards are paid out in CNG tokens over two periods – there are first & second payouts.

1. First Payout (50% reward):

   • You'll receive 50% of your reward in CNG tokens 10 weeks after you make your deposit.

   • For example, if you deposit 1,000 USDC on August 1, 2023, you'll receive 500 CNG tokens (50% of your reward) on October 10, 2023.

2. Second Payout (50% reward):

   • You'll receive the remaining 50% of your reward in CNG tokens two weeks after the first payout, which is 12 weeks after you make your deposit.

   • For example, if you deposit 1,000 USDC on August 1, 2023, you'll receive the remaining 500 CNG tokens (50% of your reward) on October 24, 2023, which is two weeks after the first payout on October 10.

While you're free to withdraw your deposit at any time, if you withdraw before the reward payout date, you will lose eligibility for your rewards.

Amount Deposited in the USDC Vault	Rewards Rate
1 USDC ~ 350,000 USDC	1 USDC : 1 CNG Ratio
350,000 USDC ~ 1,000,000 USDC	1 USDC : 0.5 CNG Ratio

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Let's say that 300,000 USDC has already been deposited in the vault, and an event participant wants to deposit an additional 100,000 USDC. Here's how their reward would be calculated:

1. Reward for the first 50,000 USDC of the deposit:

   • The total deposit in the vault is within the 350,000 USDC limit, and the participant has deposited more than 10,000 USDC, so the reward is paid at a 1:2 ratio.

   • Therefore, after 12 weeks, the participant will receive a total of 100,000 CNG tokens.

2. Reward for the remaining 50,000 USDC of the deposit:

   • The total deposit in the vault has now exceeded the 350,000 USDC limit, so the reward is paid at a 1:0.5 ratio.

   • After 12 weeks, the participant will receive 25,000 CNG tokens (50,000 * 0.5).

In total, the participant would receive 125,000 CNG tokens.