Velvet users just got 968,305 $VELVET in rewards... and now it's time for Epoch 8 where another 957,964 $VELVET will be rewarded based on Gem Rankings

Epoch 7 Recap (January 10 → February 10) Epoch 7 closed out the year with 968,305 $VELVET distributed to users who stayed active across Velvet through trading, staking, referrals, portfolio creation, and daily Gem claims.

Epoch 8 (February 10 → March 10) Epoch 8 of the Velvet Gems Campaign is officially live. From February 10 through March 10, users will compete for 957,964 $VELVET, distributed at the end of the epoch.

Ranked Gems Rewards Continue Epoch 8 continues with the rank based rewards model introduced previously. Instead of spreading rewards evenly across all participants, $VELVET is distributed based on your Gems rank. - Rank 1 receives 5% of the total Gems allocation - Top 10 receive the highest fixed allocations - Ranks beyond Top 10 follow a sliding scale - The remaining active users still receive a share The higher your rank, the larger your share of the monthly pool.

Gems Are Now Based on Fees Paid Starting this epoch, Gems are calculated based on fees paid, not Volume As Velvet prepares to launch more asset types and expand the trading surface area of the platform, rewards must reflect actual economic contribution, not passive capital placement & this will help avoid the leaderboard mishaps that happened in the final days of last epoch TVL Gems have also been removed, you will still get gems based on trading within vaults

Core Ways to Compete Your rank is now shaped by: - Trading activity - veVELVET holdings - Bringing active users - Maintaining your daily Gem streak & building a volume multiplier - Holding a Founders Club NFT Remember: Gems must be claimed daily. Unclaimed Gems expire and do not count toward rankings.

Activity window: February 10 to March 10, 2026 Distribution: March 10, 2026 Total rewards: 957,964 $VELVET