> 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

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