Earnings

Settlement

Fees earned by the Depth Sleeve in constituent markets, paid to holders three times a day. Weighted by how long you held, not by who was holding at the bell.

Not deployed
Next settlement
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00:00 · 08:00 · 16:00 UTC
Period —0% elapsed
This period
Banked so far
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Your accrual
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Holders earning
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Accrual is continuous. Arriving a minute before a settlement earns a minute, not a period — there is no moment worth timing.

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Not live
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Not live
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Not live
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Not live
Claim
Idle
Nothing settled yet—

Paid in the tokens the fees were earned in. Nothing is bought on your behalf, so none of it is spent on slippage getting to you.

Where this period's fees came from
No indexer

Each constituent market, and what the Sleeve earned in it. Read from chain events, not apportioned by a rule.

    Settlement history
    No indexer

    Every closed period keeps its own total. A period in which the Sleeve earned nothing distributed nothing, and says so rather than being hidden.

      How settlement works
      Mechanism
      1. The Sleeve earnsA bounded slice of the Reserve provides liquidity in the constituents' own markets. The fees it collects are real revenue from third-party flow, not emissions and not a treasury draw.
      2. Fees bank into the live periodThey arrive as the constituent tokens that were earned, and are credited to whichever eight-hour period is open at the time.
      3. The period closesAt 00:00, 08:00 or 16:00 UTC the window shuts and its total is fixed. That figure never changes again.
      4. It divides by time heldNot by balance at the closing instant. One share held all period earns the full weight; one held for a minute earns a minute's worth.
      5. You claim when you wantSettled amounts sit waiting. There is no queue, no deadline, and nothing expires.
      Why not just lift NAV?Both routes reach the same holders with the same value. Fees left in the Reserve compound into the share price with no transaction and nothing to claim; fees routed here arrive as tokens you can take. The split between the two is a published parameter, not a surprise.
      An empty period pays nothingIf the Sleeve earned nothing, the settlement is zero and the page says so. There is no mint here, no treasury top-up and no emission schedule — a period can only ever pay out what was actually earned.