> For the complete documentation index, see [llms.txt](https://docs.mangrove.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.mangrove.exchange/mgv-incentives/vault-lp-programs/current-programs.md).

# Current programs

All Vault LP programs currently running on Arbitrum

Below are the active LP programs launching on April 7th, 2025, and running for one month until May 7th, 2025. Each program has a budget of 600,000 MGV tokens.

| Trading Pair | Vault Address | Reward Rate                |
| ------------ | ------------- | -------------------------- |
| WETH-USDC    | 0xCC1b...3C52 | \~0.01 MGV per $ per day   |
| cbBTC-USDC   | 0x365c...18ce | \~0.01 MGV per $ per day   |
| cbBTC-EURC   | 0xC95a...2119 | \~0.01 MGV per $ per day   |
| wstETH-WETH  | 0x8ec6...2bc8 | \~20 MGV per ETH per day\* |

\*Note: For the wstETH-WETH pair, a static value of 2000 USD per ETH is used for reward calculations. This means the reward rate is effectively around 20 MGV per ETH (not per dollar) per day.

#### Program Design Rationale

The reward rate of approximately 0.01 MGV per dollar per day has been carefully chosen to:

* Provide meaningful incentives for liquidity providers
* Ensure sustainable distribution of rewards throughout the program duration
* Create a balanced reward structure across different trading pairs