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Rewards

The Matrix Theo campaign enables miweETH (or weETH) holders to access exclusive premium yields. When your rewards start accumulating is different for MITO Point (weETH), Theo token rewards, and Straddle Vault yields. Please pay attention to the following details, so you can get your rewards properly.

MITO Point (weETH)​

MITO Points (weETH) start accumulating right after you complete the deposit transaction.

Expedition (weETH) Boost Reflection​

After you deposit miweETH to Matrix, you can still accumulate MITO Points (weETH) with all of your Expedition (weETH) Boosts applied. Additionally, any Expedition Community Redistribution redemption is not imposed on you. Here's how to keep your Expediton (weETH) Boosts.

If you deposit miweETH and want to keep your MITO Point (weETH) Boosts, you must:

  • Complete both transactions (redeem and deposit) on the same UTC day
  • Meet the Boost requirements by the sum of miweETH and maweETH (Theo) amounts (before you claim, the system auto-calculates your maweETH (Theo) amount)

The time limit will also be clearly displayed on the UI according to user’s local time.

What is "both transactions"?

Deposit requests for miweETH and weETH are processed differently:

  • miweETH: 2 separate transactions (redeem miweETH + deposit weETH)
  • weETH: 1 transaction (deposit weETH) "Both transactions" means the 2 separate transactions for depositing miweETH.

For example:

  • User A’s first transaction to redeem his miweETH is completed at 11:00 PM UTC on Feb 20th, and the second transaction to deposit weETH is completed at 11:50 PM on Feb 20th
  • User B’s first transaction to redeem his miweETH is completed at 11:00 PM UTC on Feb 20th, and the second transaction to deposit weETH is completed at 12:01 AM on Feb 21st

User A’s Expedition Boosts are successfully reflected to Matrix as long as the sum of User A’s miweETH and maAsset amounts still meets the MITO Point (weETH) Boosts requirements. On the other hand, User B’s eligibility for Expedition Boosts will be checked based on the sum of miweETH and maAsset amounts before the deposit.

Please note that you can't trigger any miweETH deposit transactions during the 5-minute downtime every day between 11:55:00 PM UTC and 12:00:00 AM UTC for daily point system maintenance. The downtime doesn't affect to weETH deposits, but only miweETH deposits.

Make sure to have enough time to complete the pair transaction on the same day, considering the 5-minute daily downtime if you deposit miweETH, or especially if you’re planning to redeem your miweETH (on Scroll, Mode, and Blast) through Expedition and then bridge weETH to the campaign networks (Ethereum, Arbitrum, and Linea). Even though you see the Expedition's Community Redistribution Redemption applied to you, you won't lose anything as long as you meet the stated conditions. The CR Redemption you see on the Expedition UI when redeeming miweETH is estimated values.

Straddle Vault Yields​

alt text Theo Straddle yields are generated by Theo Straddle Vault strategy. Using Aave on Ethereum or Arbitrum, the strategy leverages weETH deposits to borrow USDC, making weETH more opportune. The vault deploys borrowed USDC to Straddle, which captures the ETH funding rates on Hyperliquid. The vault auto-rebalances based on ETH price movements. Then, the generated Straddle Vault yields are automatically compounded, increasing the conversion ratio between maweETH (Theo) and weETH over time.

Theo Straddle yields start accumulating once your maweETH (Theo) becomes claimable (= once weETH you deposited starts being used for strategy via Aave and Hyperliquid = new Theo Round begins after you deposited)

Theo Token Rewards​

Like MITO Point (weETH), Theo token rewards start accumulating once you complete your deposit transaction.

As there's waiting period to claim maweETH (Theo), calculation for Theo token rewards also differs by time:

  • Calculation before you claim maweETH (Theo): Based on how many weETH you deposit
  • Calculation after you claim maweETH (Theo): Based on the amount of maweETH (Theo) you hold

Starting from 0.07% of Theo token total supply, the total Theo token rewards allocation for the campaign will increase according to campaign TVL. alt text

The Estimated Theo Tokens value you see on the portfolio page UI is an estimate based on the TVL of that moment. The actual Theo token reward values will be calculated based on the TWAB value for 6 months. While this method might seem complicated, the key to earning more is to deposit more and hold longer.

Theo token rewards will be distributed by the Theo team after Theo’s TGE, based on the TWAB value for 6 months.

Boosts for Theo Token Rewards​

Matrix provides multiple Boosts for your Theo token rewards. Check the list below.

  1. Holding Duration Boost: Accumulated Boosts based on how many days you hold at least 0.1 maweETH (Theo) in a row. This is a separate item from the Expedition’s Holding Duration Boost. It increases by 0.05% per day accumulated. Holding Duration Boost Formula: Holding Duration Boost Formula = if(Holding Duration > 1, 1 + 0.05% * Holding Duration, 1)

  2. Bracket Boost: maweETH (Theo) holders can unlock Bracket Boost if their total maweETH (Theo) balance across all the supported networks falls into any of the "brackets" below. alt text

Additional Boosts Applied to Both Theo token and MITO Point (weETH) Rewards​

  1. OKX Wallet Boost: All users who make the first deposit transaction on the Matrix app with the OKX Wallet can unlock the 0.5% multiplier for their Theo token reward & MITO Points (weETH). Follow the below steps to activate the Boost.

    1. Must complete your first Matrix deposit transaction with the OKX Wallet extension on PC (Connecting using other wallets including "Wallet Connect" disqualifies you from activating this Boost)
    2. Click the “Get OKX Boost” button on the “Deposit Complete” modal (Be careful not to close the “Deposit Complete” modal. You can't complete registration on the same network if you close this)
    3. Sign for the message to complete the registration

  2. Morse Holder Boost: Users who have ≥ 1 Morse NFT get Morse Boost (1%).

Keep reading the document to check more details about Deposit, Claim, and Withdraw.