Rewards

LP rewards

Daily THD for THD/ETH liquidity providers once the whole supply has unlocked: one pool of bucket and recycled sell-fee THD, a halving budget scaled by the public in-range share, and a cumulative root.

Version: 1.0
Updated: 2026-10-14
Source: THD contract sources · THD contracts — design reference, parts 1 and 2 · THD — Full Plan v3.45

ThdLpRewards pays THD every day to liquidity providers in the THD/ETH pool, on top of the swap fees their own positions earn. It holds one balance, pays it out on a halving schedule, and pays against a cumulative Merkle root.

Status#

On Robinhood Chain mainnet

Item	Status
`ThdLpRewards` — the LP providers bucket’s beneficiary	Deployed
Daily rounds	Not startedStart once the whole supply has unlocked
Claims	Not openOpen 24 hours after THD's pool is seeded

Where the THD comes from#

One balance, two sources

Source	Amount	Arrives
LP providers bucket (bucket 4)	1,000 bps of supply — 100,000,000 THD	10% of every unlock, by `THDEmissionControl.claim(4)`, while the fee meter runs
Recycled sell-fee THD	The THD leg of the platform’s locked position’s fees	Only while the monthly holder vote sets recycle, when `ThdFeeRouter` flushes it

The contract does not tell the two apart. Recycled THD lengthens the same schedule; it does not start a second one. There is no quest split on this allocation.

The daily round#

code

Remaining = THD held − (totalPromised − totalClaimed)          // ThdLpRewards.remaining()
Budget    = Remaining × (1 − 0.5^(elapsed ÷ 104 weeks))           // elapsed = exact seconds since the last round
Emitted   = Budget × min(1, s_t ÷ 50%)
LP i      = Emitted × (LP i's weight ÷ all public weight)          // named providers only

Terms

Term	Value
Cadence	One round per UTC day, closed at the first run past midnight
Half-life	`HALF_LIFE` = 104 weeks. At full emission, `Remaining` halves every 104 weeks
`s_t`	Public in-range liquidity-seconds ÷ all in-range liquidity-seconds in the pool that round
Target	50%. Below it the emission scales down linearly
Not emitted	Stays in `Remaining` for later rounds. Never burned
Starts	After 100% unlock (`THDEmissionControl.isComplete()`). Before it the bucket’s THD accrues here and no round runs

As the platform’s own liquidity grows, s_t falls and so does the daily emission: the reward rents outside depth only while it is needed.

Who is paid, and by what weight#

Weight is liquidity × time in range, from the pool’s own events. A position out of range accrues nothing. A round counts only what accrued since the previous round’s cutoff.

Positions

Position	In s_t’s denominator	In s_t’s numerator	Paid
The platform’s own (`ThdLiquidityManager`)	Yes	No	No
A provider on the platform exclusion list	Yes	No	No
A public position with a named provider	Yes	Yes	Yes, by weight
A public position whose provider the index cannot name	Yes	Yes	No — its share stays in `Remaining`

Roots, the publisher and the veto#

Each round adds to every provider’s lifetime total. The root commits to keccak256(abi.encode(account, cumulative)) leaves and is published with totalPromised, the sum of its leaves.

Publishing

Publisher	Bound	Active after	Veto
`publisher()` — appointed by the owner Safe; publishes every day	May only raise `totalPromised`, by at most `publisherAllowance()`: an on-chain upper bound on one elapsed period’s budget	`PUBLISHER_ROOT_DELAY`, 12 hours	Owner Safe or guardian Safe
Owner Safe	Not bound by the allowance	`OWNER_ROOT_DELAY`, 48 hours	Guardian Safe only

Checks on every publication

Check	Refusal
Total below what has been paid	`PromiseBelowPaid`
Unpaid part above the THD held	`PromiseExceedsHeld`
Publisher lowering the total	`PublisherCannotLowerPromise`
Publisher rise above the allowance	`PublisherRiseExceedsAllowance`
Publisher staging over an immature root	`PendingRootNotMatured`

Claiming#

ThdLpRewards.claim(account, cumulative, proof)

Rule	Value	Refusal
Pays	`cumulative − claimedOf[account]`, always to `account`. Anyone may submit it	`NothingToClaim`
Opens	`seededAt + TGE_CLIFF`, 24 hours after THD’s pool is seeded	`ClaimsNotOpen`
Claim gate	Passed once on `ClaimGateAttestor` — see THD claims	`ClaimGateNotPassed`
Root went backwards	A lower figure can never claw back what was paid	`CumulativeWentBackwards`
Stated total	Lifetime payments never exceed the active root’s `totalPromised`	`PromiseExceeded`
Missed days	Never lost: the newest root carries every earlier round	—
Vest	None	—
Deadline	None. Nothing here expires or burns, and no owner path moves THD out	—