1. Overview:

Following on from this RFC ([RFC] Extend and Adjust Vault Reward Emissions), the current vault rewards are coming to an end of February 9th 2026. This SIP looks to execute the new merkl campaign to add new Vault Rewards to all active DAO owned Vaults.

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2. Motivation:

In order to remain competitive with similar protocols, we need additional rewards to supplement the base APY.

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3. Specification:

The proposal I put forward will maintain the current emissions of around 270,000 SUMR per day, or around 24M in total for the next 90 days. As with previous extension proposals that have been voted for, it is proposed to target a fixed APY for all vaults, based on todays TVL. That value today, at the current price and TVL, is 0.83% APY from the SUMR tokens.

Full table of payouts here: https://forum.summer.fi/t/sip3-15-extend-and-adjust-vault-reward-emissions-feb-26/710#p-2180-h-3-specification-3

Note, that MERKL charges a 3% fee, which will reduce the emissions slightly.

4. Risk Assessment:

Given the extensive use of MERKL across the Lazy Summer Protocol and its use for these rewards previously, it is not expected to introduce any new risk vectors for the protocol.

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5. Voting:

Voting YES for this proposal will execute the MERKL campaign creation, and with it transfer 24,375,569 SUMR to the Merkl Rewards Contract. Voting NO will not execute any campaign creation, and as such no additional rewards will continue to flow to the Vaults from 9th Feb.