1. Summary:
The current vault rewards are coming to an end of February 9th 2026. And as with previous reward periods, I am putting forward this RFC to renew the Vault Rewards.
2. Context & Motivation:
In order to remain competitive with similar protocols, we need additional rewards to supplement the base APY.
3. Proposal:
The proposal I put forward will maintain the current emissions of around 270,000 SUMR per day, or around 24M in total for the next 90 days. As with previous extension proposals that have been voted for, it is proposed to target a fixed APY for all vaults, based on todays TVL. That value today, at the current price and TVL, is 0.83% APY from the SUMR tokens.
| Chain | Vault | Current Rewards End | Current SUMR APY | Current SUMR per day | Proposed SUMR @ 0.83% APY | 90 Days |
|---|---|---|---|---|---|---|
| Base | USDC | 9-Feb-26 | 0.44% | 9,898 | 18,671 | 1,680,381 |
| Base | EURC | 9-Feb-26 | 0.56% | 3,192 | 4,732 | 425,852 |
| Base | ETH | 9-Feb-26 | 1.57% | 24,284 | 12,838 | 1,155,439 |
| Arbitrum | USDC | 9-Feb-26 | 3.12% | 16,221 | 4,315 | 388,359 |
| Arbitrum | USD₮0 | 9-Feb-26 | 3.14% | 2,850 | 753 | 67,795 |
| Ethereum | ETH | 9-Feb-26 | 1.18% | 78,226 | 55,024 | 4,952,126 |
| Ethereum | ETH (HR) | 9-Feb-26 | 0.62% | 47,957 | 64,200 | 5,778,012 |
| Ethereum | USDC | 9-Feb-26 | 0.49% | 42,163 | 71,419 | 6,427,674 |
| Ethereum | USDC (HR) | 9-Feb-26 | 0.60% | 17,054 | 23,591 | 2,123,231 |
| Ethereum | USDT | 9-Feb-26 | 1.02% | 3,717 | 3,024 | 272,189 |
| Sonic | USDC.e | 9-Feb-26 | 0.80% | 4,198 | 4,355 | 391,965 |
| HyperEVM | USDC | 9-Feb-26 | 1.30% | 8,826 | 5,635 | 507,156 |
| HyperEVM | USDT | 9-Feb-26 | 3.21% | 8,826 | 2,282 | 205,390 |
| 267,411 | 270,840 | 24,375,569 |
I also propose that the DAO Managed Vaults have 5,000 SUMR per day per vault allocated to them, once they go live (separate SIP). If we launch 4 vaults as initially proposed, this will add another ~1.8M SUMR tokens to the emissions.
The end date for this next period would be 10th May 2026.
This proposes to use MERKL again for the distribution.
4. Open Questions:
- Does the community agree with this amount?
- Does anyone propose any changes to 90 day period, or the simple allocation of tokens
5. Next Steps:
- Gather community feedback
- Promote to SIP with Merkl execution as the action
Tagging @Recognized_Delegates