# 2.3 - Emissions

<figure><img src="/files/RSJNm7FB2QwjJTfWyCbH" alt=""><figcaption></figcaption></figure>

**Emissions** are NEST tokens distributed to liquidity providers every epoch. They are separate from trading fees — emissions are the LP reward mechanism, while fees are the governance reward mechanism.

<figure><img src="/files/JFaPQJGHs9dKe3X9FmcR" alt=""><figcaption></figcaption></figure>

<table data-view="cards"><thead><tr><th align="center"></th><th align="center"></th></tr></thead><tbody><tr><td align="center"><h2>20M</h2></td><td align="center">NEST / week (Epoch 1)<br>+1.5%</td></tr><tr><td align="center"><h2>+1.5%</h2></td><td align="center">Per epoch, first 12 epochs (bootstrapping)</td></tr><tr><td align="center"><h2>−1%</h2></td><td align="center">Per epoch, epoch 13+ (maturation)</td></tr></tbody></table>

***

### How emissions are distributed

* Each epoch, veNEST holders vote to allocate emission share across pools
* A pool's share of emissions = its share of total vote weight
* If a pool receives 10% of all votes, it receives 10% of that epoch's emissions
* LPs in that pool share those emissions proportionally to their deposit size

{% hint style="warning" %}
**No votes = no emissions.** If a pool receives zero vote weight in an epoch, it receives zero emissions. LPs in unvoted pools earn nothing from emissions that epoch.
{% endhint %}

***

### Emission schedule phases

**Phase 1 — Bootstrapping (epochs 1–12):** emissions increase +1.5% each epoch to build initial liquidity depth.

**Phase 2 — Maturation (epoch 13+):** emissions decrease −1% each epoch toward a long-term sustainable rate, preventing infinite dilution while maintaining LP incentives.

***

### Approximate emission schedule

<table><thead><tr><th width="130.3984375">Epoch</th><th>Approx. NEST / week</th><th>Phase</th></tr></thead><tbody><tr><td>1</td><td>20,000,000</td><td>  <mark style="background-color:yellow;">Bootstrapping</mark>  </td></tr><tr><td>3</td><td>~20,600,000</td><td>  <mark style="background-color:yellow;">Bootstrapping</mark>  </td></tr><tr><td>6</td><td>~21,530,000</td><td>  <mark style="background-color:yellow;">Bootstrapping</mark>  </td></tr><tr><td>9</td><td>~22,500,000</td><td>  <mark style="background-color:yellow;">Bootstrapping</mark>  </td></tr><tr><td>12</td><td>~23,380,000</td><td>  <mark style="background-color:yellow;">Peak</mark>  </td></tr><tr><td>15</td><td>~22,680,000</td><td>  <mark style="background-color:blue;">Maturation</mark>  </td></tr><tr><td>20</td><td>~21,600,000</td><td>  <mark style="background-color:blue;">Maturation</mark>  </td></tr><tr><td>30</td><td>~19,600,000</td><td>  <mark style="background-color:blue;">Maturation</mark>  </td></tr></tbody></table>

{% hint style="info" %}
LPs claim accumulated emissions from the **Dashboard** on the app. Emissions accumulate continuously and can be claimed at any time. Always refer to the live epoch dashboard for current figures.
{% endhint %}


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