Rewards
USDREFI uses Merkl for reward distribution. Merkl is a production-grade off-chain computation / on-chain claim system that distributes rewards pro-rata to qualifying holders without requiring staking or lock-ups.
How It Works
The Reward Safe deposits USDREFI + $REFI into a Merkl campaign at a fixed % rate set by the Foundation
Merkl takes periodic snapshots of qualifying USDREFI balances
Merkl computes pro-rata shares and builds a Merkle tree
The Merkle root is published on-chain
Users claim their rewards by submitting a proof — no gas-heavy distribution transactions needed
Holder Rewards
USDREFI holders earn rewards simply by holding tokens in their wallet. No staking required.
Eligibility filtering: Merkl excludes the Uniswap pool contract address from holder reward calculations. Only tokens held in user wallets and allowlisted Safes earn holder rewards. This prevents double-counting tokens that are providing liquidity.
LP Incentives (Separate)
Liquidity providers on the Uniswap V4 USDREFI/USDC pool are rewarded through a separate Merkl campaign or $REFI gauge, independent of holder rewards. This is critical because the pool is the sole exit mechanism — incentives must be attractive enough to maintain sufficient depth.
Reward Parameters
Reward rate
Fixed % (set by Foundation Safe)
Reward tokens
USDREFI + $REFI
Holder eligibility
EOAs + allowlisted Safes
LP eligibility
Uniswap V4 LP positions (separate campaign)
Claim mechanism
Merkle proof (on-chain)
Distribution cadence
Monthly
Claiming & Compounding
Users can claim rewards at any time via the frontend at app.regenerative.fi/usdrefi. The claim modal shows your claimable USDREFI and $REFI balances, and executes a Merkl claim transaction with the appropriate Merkle proof.
A compound option is available: claim USDREFI rewards and immediately re-deposit them into the vault in a single flow, increasing your position without additional USDC.