Emissions

Some Banks, including Banks from other venues, might offer a token incentive to depositors, or even to borrowers. A set of incentives over time is called a Campaign.

How It Works

For example, a Campaign might distribute 7 tokens of A to lenders per week (one per day). Each lender's share is determined on a pro-rata basis in real time. If there are two lenders, each depositing the same amount, each gets 3.5 tokens per week.

Worked Example

Two users, where User 1 has $1 in deposits from the start. User 2 deposits $1 on Thursday, and $5 more on Saturday:

• Monday through Wednesday: User 1 gets all emissions (1 token/day).
• Thursday and Friday: User 1 and User 2 each get 0.5 tokens/day.
• Saturday and beyond: User 1 gets $1 / ($1 + $6) = 0.143 tokens/day. User 2 gets $6 / ($1 + $6) = 0.857 tokens/day.

Emissions are delivered by airdrop to the Account's authority, typically on Wednesday, in no particular order.

Over the full week, User 1 would get 3 + 0.5 + 0.5 + 0.143 * 2 = 4.286 tokens and User 2 would get 0.5 + 0.5 + 0.857 * 2 = 2.714 tokens.

Paired Emissions

In some Campaigns, users must both lend a particular asset and borrow a particular asset. A common Campaign is to lend some LST and borrow SOL. An Account only earns an airdrop if they perform both tasks.

For example, if the Campaign is to lend LST_A and borrow SOL, and a user is lending $70 in LST_A and borrowing $50 in SOL, they earn rewards on $50: min(lending_lst_a, borrowing_sol).

Changing Emissions Destination

Want emissions delivered somewhere specific? Set up an emissions_destination_account with marginfi_account_update_emissions_destination_account.

This is highly recommended for PDA account authorities.

FAQ

I did not get any tokens, what happened?

There is a minimum threshold to receive a drop in a given week, typically just above what it costs to open an ATA (usually less than a dollar). If what you earned in a given week is below that threshold, the amount is accumulated into the following week, where it will be dropped if you meet the threshold.

At the end of a Campaign, one final drop of any accumulated dust amounts is typically performed within reason. Contact support if you think you should have gotten a drop and did not.

Do emissions always come in the same token as the Bank?

No, they could be in any asset, or even several.

Is there a set time emissions are dropped on Wednesday?

No. The time varies slightly each week to avoid gamesmanship. It is usually during ET business hours.

Can I earn multiple incentives at the same time?

Yes. If there is a paired incentive to lend LST_A or LST_B and borrow SOL, you can count the same SOL borrow towards both Campaigns. For example, if you lend $50 LST_A and $70 LST_B, then borrow $60 SOL, you would earn $50 towards the LST_A Campaign and $60 towards the LST_B Campaign.