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Why Didn’t I Receive Any USDG Rewards After I Deposited?

Explains how native staking timing and activation affect when you start earning USDG rewards, plus how to check epoch timing on Solscan.

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Written by CopyCat
Updated this week

If you deposited into the USDG strategy and an epoch has already ended but you do not see any rewards yet, it is usually because your stake was not active for that full epoch.

This USDG strategy uses native staking on Solana (not liquid staking like mSOL). With native stake, your SOL does not become active instantly. When you deposit, especially in the middle of an epoch, your SOL first goes into an initialized / activating state for the rest of that epoch. It only becomes active at the start of the next epoch, and only stake that was active for the entire epoch earns rewards.

Once an epoch where your stake was fully active ends, the process is:

  • Collect SOL staking rewards from all native stake accounts in the USDG strategy

  • Swap those SOL rewards to USDC

  • Use that USDC to mint USDG

  • Send your share of USDG to your wallet around the beginning of the following epoch

There is no claim button. Rewards are sent automatically as USDG to your wallet once this process finishes.


A simple timeline example:

  • You deposit in the middle of Epoch 100 → your stake is initializing for the rest of Epoch 100 and does not earn rewards yet

  • Your stake is active for all of Epoch 101 → it now earns staking rewards

  • Around the beginning of Epoch 102 → rewards from Epoch 101 are processed and your first USDG arrives in your wallet

To understand where you are in this cycle, you can check epoch timing on Solscan:

  1. Go to https://solscan.io in your browser

  2. On the home page, look for the Epoch box, which shows:

    • The current epoch number

    • The progress through the current epoch

    • The estimated time remaining

Compare your deposit time with the epoch that was live at that moment. If you deposited in the middle of an epoch, your first USDG reward will only appear after your first full active epoch has finished and the next epoch has started, with the actual payout happening around the beginning of that next epoch rather than at an exact fixed time.

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