> For the complete documentation index, see [llms.txt](https://docs.aqua.network/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.aqua.network/aqua-and-ice/overview/reward-program-for-delegates.md).

# Reward program for delegates

### How it works

* Each month, **10M AQUA** is distributed among the **top 20 whitelisted delegates** listed on [aqua.network/delegate](https://aqua.network/delegate).
* Rewards are calculated based on **voting power**, defined as the total amount of ICE delegated (dICE + gdICE).
* To keep the distribution balanced, we use a **square root formula**:

  `reward ∝ sqrt(voting_power)`

  In plain terms: the more voting power a delegate has, the larger their share of rewards — but the square root formula smooths the difference so smaller delegates get a fairer portion compared to a strictly proportional split.
* Voting power is tracked daily, and the **average monthly balance** is used for the final calculation.

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### Eligibility

* Only **listed delegates** are eligible.
* Custom delegates or disqualified applicants do **not** qualify.
* Delegates must actively use their **dICE** for voting.
  * If more than **20% of dICE remains unused on a daily average**, the delegate is excluded from that month’s rewards.

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### Distribution

* Rewards are transferred **directly to delegate wallets**.
* Payouts come from the **Voting Rewards Wallet** (separate from the DAO wallet):\
  [Voting Rewards Wallet on Stellar Expert](https://stellar.expert/explorer/public/account/GDLPCKVNQZ3337RDURRV6MCKZATJGPLVCKZQXXGQW6JTITW6IEBZBTLT)
* The **Signers Guild** processes payments monthly.
* At the beginning of each month:
  * Calculations are shared with all listed delegates.
  * Rewards are distributed by the **10th of the month**.

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### Why this matters

This program:

* Encourages delegates to stay active and accountable.
* Ensures both small and large delegates are rewarded fairly.
* Strengthens the overall participation in Aquarius governance and market voting.