> For the complete documentation index, see [llms.txt](https://docs.definitive.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.definitive.fi/references/b20-incentive-program.md).

# B20 Incentive Program

### Overview

Coinbase tokenized stocks are now tradeable on Definitive. These are real US equities, issued by Coinbase as B20 tokens on Base and backed 1:1 by shares held in regulated custody. 

Alongside the launch, we've partnered with Merkl on an 8-week cashback program. Hold eligible tokenized stocks in your Definitive vault and earn 2% cashback, paid directly to you every two weeks.

### How it works

The program runs for 8 weeks, split into four 2-week epochs. Each epoch works the same way:

1. **Buy any eligible tokenized stock on Definitive.** Any amount qualifies you for the program.
2. **Trade as much as you want during the epoch.** Your activity doesn't affect your rewards. Only your balance at the end of the epoch counts.
3. **Hold at the snapshot.** On the last day of each epoch, your tokenized stock balance is snapshotted. That balance determines your cashback.
4. **Get paid.** After the epoch closes, 2% cashback is calculated on your snapshot balance and sent directly to your vault by Merkl.

> Cashback is capped at $10 per wallet per epoch. Holding $500 or more at the snapshot earns you the maximum. Each epoch is independent, so you can earn the cap up to four times over the program.

### Eligible tickers

Tickers roll out in weekly waves. Once live, a ticker stays eligible for the rest of the program.

| Wave   | Tickers                |
| ------ | ---------------------- |
| Week 1 | NVDA, META, AAPL, GOOG |
| Week 2 | AMZN, SPCX, INTC, SNDK |
| Week 3 | COIN, MSTR, CRCL, TSLA |

### FAQ

**What is an epoch?**

A 2-week reward cycle. The program is made up of four consecutive epochs. Each one ends with a balance snapshot that determines that epoch's rewards.

**Do I need to hold for the full two weeks?**

No. Only your balance on the last day of the epoch matters. You can buy, sell, and rebalance freely during the epoch.

**When do I receive my cashback?**

After each epoch closes. Rewards are calculated on your snapshot balance, validated and screened by Merkl, then distributed to your vault.

**Can I earn in multiple epochs?**

Yes. Every epoch is a fresh snapshot, so you can qualify in all four.

**What are tokenized stocks?**

B20 tokens on Base issued by Coinbase, each backed 1:1 by a real share held in regulated custody. Dividends and stock splits are passed through onchain automatically, so your position tracks the real equity without you doing anything.