Multichain veMULTI Rewards for Q4 2022
$939K USDC to be distributed
The third quarter of 2022 has ended, and it witnessed the steady growth of veMULTI with 25.34% circulating MULTI locked and an APR of around 45% (four-year staked). Since Q2 veMULTI rewards are paid out in full in Q3, this week will be the last week for Q2 rewards distribution. Let’s now have a look at how rewards for the next veMULTI quarter will be distributed.
As per the rules, except for the 10% bridge fees for the purpose of the Safety Fund, 45% of the bridge fee will be distributed as incentives and dispersed every quarter in USDC. This proportion of bridge fees from Q3 2022 will be distributed in Q4 2022 as rewards, starting from October 13th at 2:00 AM UTC.
- Q3 Multichain bridge fees: $2,200,877.26
- Q3 Multichain bridge cost (gas fee): $112,664.66
- veMULTI Q4 rewards: $939,695.67 USDC ($2,088,212.60*0.9/2)
- Note: Multichain overall bridge fee for Q3 is $2,316,712.90. Due to altcoins price drop and slippage loss, actual bridge fees are $2,200,877.26.
How many rewards can you get in Q4 2022?
- Total veMULTI USDC distribution for Q4 2022 — $939,695.67
- MULTI circulating supply — 18,639,320
- MULTI price — $3.8 (Five-day average price starting from Oct 8th)
- Average locking duration — 4 years
The reward per 1000 MULTI staked is as follows:
veMULTI reward formula: