About this Chart

Each epoch is labelled by the period the revenue accrued in, not the period three to four days later when the drop lands. The rate divides the buyback reward, marked at the PENDLE price rather than the sPENDLE feed, over the effective reward base of real sPENDLE plus the vePENDLE Loyalty Bonus virtual balance. In-kind partner airdrops are excluded, since they are paid in other tokens and never converted into PENDLE.