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Rewards and Redemption

A successful Genesis contribution becomes two related claims:

  1. proportional ownership of the aggregate $RAPH/WETH LP position; and
  2. a proportional share of $RAPH rewards actually harvested from the pool's gauge.

Both claims follow the contributor's share of total recorded ETH commitments.

LP ownership​

Successful finalization mints one aggregate LP position to the Genesis contract and stakes all of it in the gauge. Contributors do not receive transferable receipt tokens or individual gauge deposits.

your LP share = your ETH / all committed ETH

The contract handles integer rounding and gives the final eligible claimant any bounded LP dust. No contributor can redeem before unlock, and no administrator can remove the contributor LP early after successful finalization.

Gauge rewards​

The gauge reward token for Genesis is $RAPH. A reward checkpoint measures only the token balance increase produced by the gauge claim:

harvested $RAPH =
  balance after checkpoint
  - balance before checkpoint

Only that measured increase enters contributor reward accounting. The following do not become gauge rewards:

  • the fixed 10 million $RAPH pool allocation;
  • the mere existence of voter- or liquidity-incentive reserves elsewhere in the initial allocation;
  • $RAPH already held by the Genesis contract;
  • direct token donations; or
  • rewards harvested in an earlier checkpoint.

If $RAPH is validly distributed through the Genesis gauge, only the amount later harvested by a measured checkpoint enters contributor accounting.

While LP is staked, anyone may checkpoint rewards. A contributor may claim their currently accounted share, and later checkpoints can create an additional claim. Repeated claims cannot multiply the contributor's proportional entitlement.

Rewards are variable

Gauge rewards depend on emissions and votes outside the Genesis contract. There is no guaranteed APR, minimum reward, total reward, or token value.

Trading fees are different​

Gauge emissions and pool trading fees are separate value streams. Genesis contributors share harvested $RAPH gauge emissions through the Genesis contract. Trading fees from the staked pool follow Raphael's ve-voter fee routing and are not distributed to Genesis contributors as LP fees.

See Fees, Staking and Gauges for the protocol-wide distinction.

Unlock​

The LP lock has an immutable expiry. On mainnet, that expiry is exactly 127 days after the commitment window closed: the seven-day finalization allowance followed by the 120-day lock. It is not calculated as 120 days after finalization. Mainnet Genesis finalized on 31 Aug 2026 at 17:27:10 UTC, and the fixed lock expiry remains 5 Jan 2027 at 17:00:18 UTC.

Reaching expiry does not move assets automatically. At or after expiry, anyone may submit the permissionless unlock transaction.

Unlock first withdraws the complete staked LP position from the gauge, then attempts a final reward checkpoint. If that reward call fails, the withdrawn LP remains available and the checkpoint can be retried permissionlessly. A reward-call failure does not put LP back into the lock or erase a contributor's later reward entitlement.

Individual redemption​

After unlock, each contributor can redeem without waiting for anyone else. Redemption transfers the contributor's proportional LP amount and settles final rewards when final reward accounting is ready.

If a contributor redeems before a failed final reward checkpoint has been retried, the later successful checkpoint can still create their final reward claim. LP redemption and final reward recovery do not block each other.

The current Genesis contract defines no redemption deadline. The committing key is still essential because there is no administrator reassignment path for the contributor claim.

LP represents a share of the pool's reserves at the time of redemption. It does not guarantee the original Genesis asset ratio, the committed ETH value, or any particular amount of either underlying asset.

Risks to understand​

  • Unknown final ratio: total committed ETH is not known until deposits close.
  • No voluntary pending exit: a contributor cannot withdraw while the launch is pending. Refunds require a terminal failed launch.
  • Cancellation risk: the protocol administrator can cancel before successful settlement, leading to exact ETH refunds rather than LP ownership.
  • Finalization and dependency risk: settlement depends on the required protocol contracts and one atomic transaction succeeding before the deadline.
  • Smart-contract risk: defects or unexpected dependency behavior can cause loss or prevent intended actions.
  • Key risk: losing the committing key can make the non-transferable contributor claim inaccessible.
  • Market and LP risk: $RAPH and ETH prices can change sharply, and impermanent loss can make LP underperform holding the starting assets.
  • Lock risk: the LP cannot be removed before expiry even if market conditions deteriorate.
  • Reward risk: votes, emissions, token prices, and gauge behavior can change. Displayed yield is never guaranteed.
  • Reserve risk: the LP redeemed later represents then-current pool reserves, which can differ substantially from the founding ratio.

Read Safety and Risks and the Legal and Risk Notice before committing.