SUMR Staking V2 USDC Payout - April 2026 (Resubmitted)

1. Overview: This SIP proposes the payout, via Merkl, of 3,858.90USDC as LVUSDC to those users who have staked SUMR tokens in the SUMR Staking V2 at any point throughout April 2026. This follows similar SIPs paying out previous months, since the launch of the SUMR Staking V2 in December 2025. Throughout April 2026, the Lazy Summer Protocol made $19,294.53 of revenue, made up from the following networks;

• Ethereum → $16,639.01
• Base → $2,267.44
• Arb → $161.95
• Sonic → $96.15
• HyperEVM → $129.98 As per the outlined launch parameters for Summer Staking V2, 20% of this should be paid out to stakers of the SUMR token, representing 3,858.90 USDC This payout should be made via MERKL, who have kindly added support for weighted balances in the stSUMR token. Given that MERKL charges a 3% fee for rewards, the actual total being transferred from the DAO Treasury is 3,978.247422 USDC. As per the original intention of the SUMR Staking V2, these rewards will be paid out as LVUSDC, which is USDC from a Lazy Vault on the Base Network. This means everyone staking SUMR will earn yield bearing USDC, which will start to accrue the yield from the moment the transaction executes.

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2. Motivation:

This Sub-SIP represents a monthly distribution of revenue share to SUMR holders staking in the Staking V2 Module.

3. Specification:

Total being paid: 3,978.247422 USDC Total LVUSDC being minted and transferred to Merkl: Reward amount paid out: 3,858.90 USDC worth of LVUSDC Start timestamp: 1774998000 (1-April-2026 00:00:00 UTC) End timestamp: 1777589999 (30-April-2026 23:59:59 UTC) Full data can be seen once the vote has been posted and full details of the LVUSDC amounts will be declared. At the posting of this SIP, the timelock controller on Base (the Lazy Summer DAO Treasury contract) has less than the required amount of USDC. As such, a request to the Lazy Summer Foundation will be posted alongside this SIP to bridge relevant assets from spoke chains (ETH, ARB, SONIC and HYPEREVM) to the hub chain, Base.

4. Risk Assessment:

Given the payouts will occur through Merkl, which is already supported widely through the UI and Lazy Summer Protocol, there are no additional risks expected from this SIP by using them as rewards. However, this will be the first time we have processed rewards in Lazy Vault receipt tokens. This has been communicated to the MERKL team, and the relevant lvusdc token has been whitelisted by the MERKL team on the Base Network.