# Rewards Program

As mentioned in the [USDhl Architecture](/usdhl/usdhl-architecture.md) page, every USDhl is backed 1:1 by M, a wholesale dollar collateralized by short‑term U.S. Treasuries. The 4%+ annualized yield generated by these short-term treasuries can be used at complete discretion.

100% of revenues are currently utilized as ecosystem incentives. Effectively, this pays users additional yield for their activities on Hyperliquid.

#### Designated Venues & Weights

<table data-header-hidden><thead><tr><th></th><th width="143.640625"></th><th></th><th></th></tr></thead><tbody><tr><td>Venue group</td><td>Allocation</td><td>Sub‑venues</td><td>Distribution rule</td></tr><tr><td><strong>HyperCore</strong></td><td>50 %</td><td>USDhl/USDC spot market</td><td>Rewards distributed pro‑rata to each address' volume. Maker volume is <strong>3×</strong> weighted relative to taker volume.</td></tr><tr><td><strong>HyperEVM</strong></td><td>50 %</td><td><ul><li>HYPE &#x3C;> USDhl Hyperswap</li><li>feUSD &#x3C;> USDhl Hyperswap</li><li>USDT0 &#x3C;> USDhl Hyperswap</li><li>HYPE &#x3C;> USDhl KittenSwap</li><li>USDT0 &#x3C;> USDhl Kittenswap</li><li>USDhl Vanilla Lending</li></ul></td><td>Rewards distributed pro‑rata to each LP’s share of the pool’s 14‑day average TVL.</td></tr></tbody></table>

Weights are applied at the group level first (50 % / 50 %), then within each pool according to the stated rule.

#### Distribution Mechanics

* Payout timing: Rewards are claimable every two weeks via the Felix platform [here](https://usefelix.xyz/usdhl/rewards).
* Transparency: HYPE purchases will be done via this address 0x2157f54f7a745c772e686aa691fa590b49171ec9.


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