> For the complete documentation index, see [llms.txt](https://docs.penpiexyz.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.penpiexyz.io/fee-structure/voting-incentives.md).

# Voting Incentives

#### Pendle Voter 

* 40% is allocated to vlPNP voters according to [PIP-11](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x176216e53d1aacc11f142fa8efbe2c978df73e5baae19d3d91b6b2daa85573ae) & [PIP-15](https://snapshot.box/#/s:penpiexyz.eth/proposal/0xba67b9bfaf0c4c0edf629d88b6712aeb0a600bfdb48c002c514fba8f971589fc). (The APR on the UI is the expected rewards based on the data from the previous week..)\
  When PENPIE receives rewards from PENDLE, it will convert wETH into PNP and distribute it to users. (Expected in 2 months)  
* 40% is allocated to the treasury for mPENDLE buyback according to [PIP-16](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x59b8ffda6b4ea1aa1d8bd08cc4f34928d8d773eb5f8c1e15d71fb755e96fd52a).
* 20% is allocated to the PRT mechanism according to [PIP-15](https://snapshot.box/#/s:penpiexyz.eth/proposal/0xba67b9bfaf0c4c0edf629d88b6712aeb0a600bfdb48c002c514fba8f971589fc)

#### Penpie Voter 

* 95% is allocated to vlPNP voters according to [PIP-18](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x8078dabf0475584f9e3c5d1fd4c12dee7e878d88efca8a0b3046eab6fc5a7014). \
  (Rewards are distributed every Wednesday at 5 PM SGT)
* 5% of the fund is allocated to essential operational expenses according to [PIP-18](https://snapshot.box/#/s:penpiexyz.eth/proposal/0x8078dabf0475584f9e3c5d1fd4c12dee7e878d88efca8a0b3046eab6fc5a7014).

#### vlPNP Vote Delegation Pool

* 5% is allocated to essential operational expenses.