# Rewards ## **Emissions** Each epoch, $BLACK emissions are distributed to liquidity pools in proportion to the votes that the pools receive. veNFT voters are given bribes to allocate their votes to different liquidity pools. Liquidity providers (LPs) can stake their LP positions to receive a share of the emission reward tokens distributed to each pool in proportion to the size of positions and time staked. These rewards are distributed throughout the entire epoch and are available for claiming as they accrue. ## **Fees** Token pairs capture fees from the volume enabled by the liquidity in each pool. The fees collected by staked LPs the previous epoch are deposited as incentives for the current voting epoch. Fee rewards are distributed in the same tokens as the liquidity pool tokens they originate from (e.g., if the pool is BLACK/USDC the distributed tokens are $BLACK and $USDC) and can be claimed at any time. Fee rewards deposited as voter incentives are available for claim after the epoch changes (Thursday 00:00 UTC) and are distributed in proportion to the voting power cast by a voter ($veBLACK). #### Basic Volatile (v2) Pools * Unstaked LP positions receive 100% of the swap fees but no emissions * Staked positions receive BLACK emissions, while fees go to the gauge. #### Concentrated Liquidity (v3) Pools * Unstaked positions do not earn rewards since all fees go towards the gauge * Staked positions earn BLACK emissions from the gauge ## **Voting Incentives (Bribes) and Gauges** The gauge voting system is designed to create a dynamic liquidity marketplace for projects looking to grow and maintain sustainable liquidity. Projects can stimulate and expand their liquidity by depositing voting incentives into their pools. By adjusting the amount of incentives they contribute each week, protocols can actively manage their pool’s liquidity, ensuring it aligns with their evolving strategic objectives. These voting incentives are allocated to veBLACK holders who vote for the respective pools. After each epoch, these voters can claim their rewards as a lump sum. Additionally, any whitelisted token can be used as a voting incentive deposit. These rewards are available for claim after the epoch changes and are distributed in proportion to the voting power cast by a voter (veBLACK).
## **Rewards Claim** Rebase rewards are claimable 1 hour after a new epoch has started (Thursday 01:00 UTC). The epoch flip itself is on Thursday 00:00 UTC. In the 2 hour window from 1 hour before till 1 hour after the epoch flip, rebases cannot be claimed. **Example of incentives, voting, and rewards claim timeline:** * A new epoch starts Thursday (00:00 UTC) * Incentives are deposited at any point in the epoch * Voters vote for their preferred pools * Once the next epoch arrives (the following Thursday), users are able to claim rewards ![](/files/OIOnyDwSgZwkWv8gSxjx) --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.blackhole.xyz/protocol-design/rewards.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.