> For the complete documentation index, see [llms.txt](https://docs.div.fun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.div.fun/core-concepts/reward-eligibility.md). # Reward eligibility Dividends are distributed across the **eligible supply**, not the total supply. This page explains which balances earn dividends, which do not, and why the distinction matters to what you actually receive. ### Eligible balance Your **eligible balance** is the part of your holding that earns dividends. For an ordinary holder, that is simply your whole balance. Your dividend on any distribution is: ``` your dividend = holders' portion × (your eligible balance ÷ total eligible supply) ``` ### Excluded addresses Some addresses hold the token but are not real holders in the dividend sense, and are excluded from earning dividends. Typically these include: * the **HyperSwap liquidity pool** that backs the token after graduation; * the **bonding curve** contract, before graduation; * the token's own contract and the protocol's distribution contracts; * burn and other non-custodial addresses. Excluding these is what makes the math honest. If the liquidity pool earned dividends, a large fraction of every distribution would be paid to the pool — effectively to no one — and real holders would receive less. By excluding non-holders, the entire holders' portion is shared among addresses that are genuinely holding the token to hold it. ### Why your share can be larger than your face percentage Because the eligible supply is smaller than the total supply, your share of the eligible supply is larger than your share of the total. If half the supply sits in the pool and excluded addresses, a holder of 1% of the total supply holds roughly 2% of the eligible supply, and receives roughly 2% of each distribution. The token's [page](/for-traders/the-token-page.md) shows the figures the distribution actually uses. ### Tokenized-stock reward assets and gated holders Some reward assets — certain tokenized stocks — may themselves restrict who can receive them. Where a reward asset cannot be delivered to a particular wallet, the protocol's design accounts for it so that distribution to other holders is not blocked. The mechanics are covered in [How stock dividends work](/stock-dividends/how-stock-dividends-work.md). For the great majority of holders and reward assets, dividends arrive without any such consideration. ### In short * Ordinary wallets earn dividends on their full balance. * Pools, curves, and protocol contracts are excluded, which increases real holders' shares. * Your dividend is always your fraction of the **eligible** supply, shown on the token's page. Continue to [the board](/for-traders/the-board.md) to see eligibility and dividend data in the trader interface. Dividends are distributed across the **eligible supply**, not the total supply. This page explains which balances earn dividends, which do not, and why the distinction matters to what you actually receive. ### Eligible balance Your **eligible balance** is the part of your holding that earns dividends. For an ordinary holder, that is simply your whole balance. Your dividend on any distribution is: ``` your dividend = holders' portion × (your eligible balance ÷ total eligible supply) ``` ### Excluded addresses Some addresses hold the token but are not real holders in the dividend sense, and are excluded from earning dividends. Typically these include: * the **HyperSwap liquidity pool** that backs the token after graduation; * the **bonding curve** contract, before graduation; * the token's own contract and the protocol's distribution contracts; * burn and other non-custodial addresses. Excluding these is what makes the math honest. If the liquidity pool earned dividends, a large fraction of every distribution would be paid to the pool — effectively to no one — and real holders would receive less. By excluding non-holders, the entire holders' portion is shared among addresses that are genuinely holding the token to hold it. ### Why your share can be larger than your face percentage Because the eligible supply is smaller than the total supply, your share of the eligible supply is larger than your share of the total. If half the supply sits in the pool and excluded addresses, a holder of 1% of the total supply holds roughly 2% of the eligible supply, and receives roughly 2% of each distribution. The token's [page](/for-traders/the-token-page.md) shows the figures the distribution actually uses. ### Tokenized-stock reward assets and gated holders Some reward assets — certain tokenized stocks — may themselves restrict who can receive them. Where a reward asset cannot be delivered to a particular wallet, the protocol's design accounts for it so that distribution to other holders is not blocked. The mechanics are covered in [How stock dividends work](/stock-dividends/how-stock-dividends-work.md). For the great majority of holders and reward assets, dividends arrive without any such consideration. ### In short * Ordinary wallets earn dividends on their full balance. * Pools, curves, and protocol contracts are excluded, which increases real holders' shares. * Your dividend is always your fraction of the **eligible** supply, shown on the token's page. Continue to [the board](/for-traders/the-board.md) to see eligibility and dividend data in the trader interface. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. 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