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Fifteen percent of every curve fee and fifteen percent of collected permanent-LP fees are allocated to trader rewards. Curve allocations enter TraderRewardsVaultV3 as native USDC. LP allocations enter as the collected ERC-20 asset, which can be either canonical USDC or the launch token. The rewards vault preserves accounting by launch token and asset. Only the bound TraderRewardsDistributorV3 can request payouts. The distributor owner publishes an immutable Merkle root for a tuple of epoch, launch token, and asset. A claimant supplies the amount and proof; each claimant can claim once for that distribution ID. A valid proof does not reserve funds in advance.
Roots are policy inputs controlled by the distributor owner. The contracts do not calculate trading eligibility onchain. Published roots can overcommit the pooled vault balance, which may cause a later valid claim to fail until more funding is available.
The checked-in contracts and tests prove the custody and claim mechanics, not a particular rewards schedule, eligibility policy, published root, or currently funded distribution.