Incentivized Mainnet Program - Distributions

General
22

Yes! The updated calculation is coming soon. Stay tuned for more updates here on the thread and on Discord.

1 Like
23

Is the new calculation ready? Iā€™m hoping to use my distributions to cover my SSV Network fees so I donā€™t get liquidatedā€¦

1 Like
24

@GBeast The calculations have been run again and are currently being verified with an updated checklist. My expectation is that the checks will be finished today, the results posted here, and the new Merkle root update shortly after.

1 Like
25

2025-02 Rewards Distribution (Fixed)

The February 2025 rewards distribution calculations have been created!

How to claim your rewards
Step 1: Wait until the Merkle root has been updated for the current month.
Step 2: Go to https://ssvrewards.com to claim your rewards.

UPDATES SINCE JUNE 2024
A snapshot proposal was passed.
The key points of that proposal are:

  1. Extending the program duration. 3 months has been added to the program, bringing the total length to 15 months.
  2. Restructuring the program tiers and APR boost:
    Tier (Validators) APR Boost
    20000 - 35000: 30%
    35001 - 45000: 20%
    45001 - 100000: 10%
  3. Updating the eligibility criteria to exclude SAFE multisig wallets. Previously, if the owner address was a SAFE multisig wallet, the rewards could only be claimed by the EOA deployer address of that SAFE multisig wallet. With this update, the SAFE multisig wallet is now the reward recipient.

Note: The results are cumulative, so the results shown in Rewards Overview 2025-02 Google Sheet are only showing rewards from February 2025. The MerkleProof shows the cumulative amount for the whole incentives program so far.

Calculation Repo: GitHub - ssvlabs/ssv-rewards

ETH Staking APR: 3.143%

  • 30-day trailing average on 1st February 2025

  • rewards.yaml: eth_apr: 0.03143 # ETH Staking APR as a decimal fraction

  • Data from ETH.STORE

SSV/ETH Ration: 0.0061448

Files: Rewards-2025-02 - Google Drive

Signature Confirmation of Merkle Root:
https://etherscan.io/verifySig/269187

Address:

0xe3e34fa93575af41bef3476236e1a3cdb3f60b85

Message:

The SSV Incentivized Mainnet Program Merkle Root for February 2025 is: 0x5c984087fd9aac3cc2d2abead27611e39ba723741c4a709b62ae7227bd12cfe3
Timestamp: 25th of March 2025

Signature Hash:

0xf28b0e98d3c3f2ba820a9f293d5546255b131c304305ea8ada26781533cef56576aae22dcfdfad84bdeba29d718a5a4b9d98b69cd5785139f2495f5a7058e4851b
2 Likes
26

Hey Eidian, do i read it correctly that prices for the month of January are used to calculate Feb rewards? so there is 1 month lag of prices impacting rewards?

1 Like
27

Hey @OperatorX, yes thatā€™s correct. The prices are calculated as the 30-day average from the start of the period. For the February period, the price range starts one day before that (31st January) and counts backward 30 days to the 2nd January. You can see the exact values used here: Price Calculator 2025-02 - Google Sheets

1 Like
28

2025-03 Rewards Distribution

The March 2025 rewards distribution calculations have been created!

How to claim your rewards
Step 1: Wait until the Merkle root has been updated for the current month.
Step 2: Go to https://ssvrewards.com to claim your rewards.

UPDATES SINCE JUNE 2024
A snapshot proposal was passed.
The key points of that proposal are:

  1. Extending the program duration. 3 months has been added to the program, bringing the total length to 15 months.
  2. Restructuring the program tiers and APR boost:
    Tier (Validators) APR Boost
    20000 - 35000: 30%
    35001 - 45000: 20%
    45001 - 100000: 10%
  3. Updating the eligibility criteria to exclude SAFE multisig wallets. Previously, if the owner address was a SAFE multisig wallet, the rewards could only be claimed by the EOA deployer address of that SAFE multisig wallet. With this update, the SAFE multisig wallet is now the reward recipient.

Note: The results are cumulative, so the results shown in Rewards Overview 2025-03 Google Sheet are only showing rewards from March 2025. The MerkleProof shows the cumulative amount for the whole incentives program so far.

Calculation Repo: GitHub - ssvlabs/ssv-rewards

ETH Staking APR: 3.084%

  • 30-day trailing average on 1st March 2025

  • rewards.yaml: eth_apr: 0.03084 # ETH Staking APR as a decimal fraction

  • Data from ETH.STORE

SSV/ETH Ration: 0.0046092

Files: Rewards-2025-03 - Google Drive

Signature Confirmation of Merkle Root:
https://etherscan.io/verifySig/271812

Address:

0xe3e34fa93575af41bef3476236e1a3cdb3f60b85

Message:

The SSV Incentivized Mainnet Program Merkle Root for March 2025 is: 0x4c15b598926548228dcee37cd9f5abd513e2977cd5b8fc61eeb941c2768e9e64
Timestamp: 11th of April 2025

Signature Hash:

0xa849424835ace357108aa7eb0db3917b9163cdadb814167801b08a37626336e16217e412ebc1a5532a423fa30bbf03ca8180c1bc67040bfea64165cdbf60745c1c
29

much appreciated!

Is it published anywhere how many tokens have been minted so far as part of this program and how close are we to 1M limit mentoned in the original Proposal?

ā€œNo more than 1.000.000 SSV will be minted during the length of the Incentivized mainnet programā€

2 Likes
30

Hey @OperatorX!
Revision #2 of the Incentivized Mainnet Program reset the 1M SSV limit on Dec. 26th 2024: https://snapshot.box/#/s:mainnet.ssvnetwork.eth/proposal/0x592978db42ae5333a87abc88615f9e2b0b2be74ef42e7d531d64a141e5f9bb42

After the incentivized mainnet update for March is executed we will have minted 400k of this new 1M budget :+1:

All mints related to the Incentivized Mainnet program can be seen here:
https://etherscan.io/address/0x63E006a305b32a5b21516CAe0A4348525C8cB0a8#tokentxns

I believe the bigger issue is the 100k validator limit being hit meaning the original program ends. A dedicated working group is on it and will soon propose an extension :folded_hands:

3 Likes