What is a Smart Treasury?
It is a piggy bank account that automatically distributes Mover performance rewards to you. When Mover optimizes your deposit in savings, it stores a portion of saved returns in the Smart Treasury so that you can get your fees covered.
How can I use my accrued rewards?
By default, the treasury will use your earned rewards to cover any expenses you may have while using Mover. That includes everything from transaction and network fees, card expenses, and more.
What is a treasury boost?
While treasury rewards are available to every Mover user, there are ways to increase your rewards. So we called those options treasury boosts. There are two boost options.
- To reserve MOVE tokens — if you reserve your MOVE tokens in the Smart Treasury, you will increase (1x) your rewards share based on the total amount of the tokens you have reserved. It may sound complicated, but it’s pretty simple. The more MOVE tokens your reserve, the bigger your share of the Smart Treasury is. The bigger your share is, the more rewards you are getting.
- To reserve MOVE/ETH LP tokens — if you reserve your LP (Liquidity Provider) tokens in the Smart Treasury, you will multiply by 2,5 (2.5x) your rewards share based on the total amount of LP tokens you have reserved. Same concept as with MOVE tokens, but even more rewards!
In other words, those that reserve either MOVE tokens, MOVE/ETH LP tokens or both, get a bigger share of the Smart Treasury rewards. The bigger your share is, the more rewards you receive.
Is my treasury share constant or does it change?
Your treasury share can change. It depends on the current treasury boost conditions. If other users reserve or remove MOVE tokens, MOVE/ETH LP tokens, or both your treasury share can change.
Are the rewards guaranteed?
No, they are not. Rewards depend on many factors, including how many deposits the system is handling, how much Mover can optimize, and market conditions.
How often the rewards are distributed?
The Smart Treasury works with savings, so the rewards accrue in real-time, and the system distributes them daily. All accrued treasury rewards are always accessible, just like your deposits, 24/7/365.
Why does the treasury use USDC?
USDC is a stable asset. It means that 1 USDC is always equal to 1 USD. It is issued by CENTRE and Coinbase and is the only regulated crypto stablecoin. Mover uses USDC as a base currency in savings to provide safer and more optimal performance. Thus, the treasury also uses USDC by default.
What if I don’t have enough rewards to cover my transaction fees entirely?
There are certain limitations for now. One of which is that you need to be able to cover the transaction cost fully. In normal words, if the cost of the transaction is higher than the amount of available rewards you have on the balance — you won’t be able to use them. You will have to wait until you save enough rewards. This is a technical limitation of the Ethereum network. However, once the debit cards are launched, you will be able to use your rewards to partially cover your card costs.
Can I withdraw my treasury rewards?
Yes, your treasury bonus rewards can be withdrawn. You can transfer, receive, use them as a collateral, or even gift to someone. You can also claim your rewards via Claim & Burn feature. Alternatively, you can always spend your earned Smart Treasury rewards in the app.
How does Claim & Burn feature work?
Claim & Burn allows you to exchange your MOVE tokens for a larger portion of the Smart Treasury. You will burn your MOVE tokens, and receive four times (4x) of your treasury share in a one-time payout. You will receive a one-time exit reward, but increase the rewards for all other token holders as the total supply will decrease, and thus, their treasury share will also increase.
There is no limit on how many times you can use this feature, as long as you have MOVE tokens to burns. Keep in mind, the payout reward depends on the Smart Treasury status and can vary.
Will I have to pay taxes on the treasury rewards I earned?
Our lawyers say that we do not provide tax advice. Please consult with a tax advisor regarding your reporting obligation.