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# Voter Rewards

## Fees

Token pairs capture fees from the volume enabled by the liquidity in each pool.

The fees collected by staked LPs the previous epoch are deposited as incentives
for the current voting epoch.

Fee rewards are distributed in the same tokens as the liquidity pool tokens
these originate from (e.g., if the pool is `vAMM-AERO/USDC` the distributed
tokens are `$AERO` and `$USDC`).

Fee rewards are distributed as accrued and can be claimed at any time. Fee rewards deposited as voter incentives are available for claim after the epoch changes (Thursday 00:00 UTC), and are distributed proportionally to the voting power cast by a voter (`$veAERO`).

## Incentives

In addition to fee rewards, liquidity pools can receive external voter rewards from protocols or other participants (known as _incentives_). Incentives can be deposited for _whitelisted_ tokens and are distributed _only_ to voters on that pool, proportionally to their share of pool votes.

These rewards are available for claim after the epoch changes (Thursday 00:00 UTC), and are distributed proportionally to the voting power cast by a voter (`$veAERO`).

## Rewards claim

Rebase rewards are claimable after a new epoch has started (Thursday 00:00 UTC).

An example of incentives, voting, and rewards claim timeline:

- A new epoch starts Thursday (00:00 UTC)
- Incentives are deposited at any point in the epoch
- Voters vote for their preferred pools
- Once the next epoch arrives (the following Thursday), users are able to claim rewards

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