Verify any payout
Every holder payout follows a locked, public formula on public data. Here's how to check one yourself.
The holder pool does not ask for your trust. It publishes its work. Every daily payout is the output of a locked, deterministic formula over public chain data, published before it takes effect, with a one-day window in which anyone can recompute it and call out a discrepancy.
The lifecycle of a payout
-
The epoch closes. Each UTC day is one epoch. Its boundary is the last block before midnight UTC.
-
The formula runs. The day’s pool inflow is measured on-chain; it splits between coins by their share of the day’s traded volume, then between each coin’s holders by balance at the boundary block. Remainders from rounding carry into the next day, so nothing leaks.
-
The dataset publishes first. The complete result, every input, every account’s entitlement, and the Merkle tree over them, is published and pinned to IPFS before anything is submitted on-chain.
-
The root enters review. The tree’s root is submitted to the rewards distributor, where it sits behind a one-day timelock before activating. This window exists so the published dataset can be independently checked against the chain.
-
Claims open. After activation, any included account can claim its cumulative entitlement with a Merkle proof. Later roots always contain every account’s full lifetime total, so claiming late never costs you anything.
Checking a payout yourself
To verify a pending root, recompute it: take the epoch’s boundary blocks, read the pool inflow from the fee splitter, reconstruct per-coin volumes and holder balances from chain logs, apply the proportional splits with floor rounding, build the Merkle tree, and compare your root to the pending one. The published dataset gives you every intermediate value to diff against, so a discrepancy is pinpointable, not just detectable.
Eligibility rules you’ll need: a holder counts if it has a positive balance at the boundary, is not a contract, and is not one of the protocol’s own addresses; entitlements below $0.01 accumulate until they cross the floor.
The infrastructure holding the funds is Morpho.s Universal Rewards Distributor. Its role and trust assumptions are explained in Security model.