1. What is Cash Rewards?

Cash Rewards is a Phantom program that pays you a reward on the Cash you hold in your Phantom Cash account. You see your rate in the app as an annual percentage yield (APY). Rewards build up daily based on how much Cash you hold and are added to your Cash balance every week. No lock-ups: you can trade, spend, or withdraw your cash at any time.

2. How do I start earning?

Deposit and enroll.

• Open the Cash section in Phantom and add Cash (debit card, Apple Pay, bank transfer, or by swapping another stablecoin into Cash).
• Tap the Rewards card, review the Cash Rewards Terms, and tap Start Earning.

Rewards start building from the next daily calculation after you enroll. If you enroll before you deposit, you'll start earning as soon as Cash lands in your account. There are no fees to enroll, earn, or receive rewards.

3. Where do the rewards come from?

Phantom Global, Inc. (Phantom) pays them. Cash Rewards are funded by Phantom as a marketing expense. They are not yield generated by lending your Cash, investing it, or moving it anywhere. You maintain custody over your Cash at all times. Your Cash is never lent, staked, or deposited into a protocol to produce rewards; nothing happens to your balance except that rewards are added to it.

4. Who holds my Cash while I'm earning?

You do. Your Cash account is a self-custodial wallet on Solana that only you control with your wallet credentials. Enrolling in Cash Rewards doesn't change that. Phantom cannot move, freeze, or withdraw your Cash, and neither can any partner.

There are no lock-ups, holding periods, or penalties. Deposits, withdrawals, transfers, swaps, trading, and the Phantom debit card all work exactly the same whether or not you're enrolled.

5. What rate do I earn, and can it change?

Your current rate is always shown in the app on the Cash page and in the Rewards card, quoted as an annual percentage yield (APY). Phantom sets the rate and can raise it, lower it, or pause or end the program. Any change applies only to future rewards. Rewards already added to your balance are yours to keep. Full details are in the Cash Rewards Terms.

6. How are rewards calculated?

Each day, Phantom calculates a reward based on the Cash you held in your Cash account over that day and your current rate. Rewards are calculated on your eligible balance for the day, so changes to your balance during the day are reflected according to Phantom's methodology.

Daily rewards build up as an estimate you can see in the app, then get paid out in one weekly payment. Because payouts land in your Cash balance and your balance is what earns, rewards compound in effect; there's nothing to reinvest or claim. The Estimated Payout shown in the app moves with your balance and is confirmed when the payout lands.

7. Which balances count?

Only Cash (CASH) held in your Phantom Cash account. Any positive balance earns; there's no minimum, though very small balances may earn less than a cent per day and display as $0.00 until it adds up.

8. When and how do I get paid?

Once a week. Each payout covers the rewards you earned during the previous week and is added directly to your Cash balance in CASH, which the app shows in dollars since CASH is pegged 1:1 to the US dollar. The app shows your next payout date in the Rewards sheet, and you'll get a push notification when the payout lands. You can turn Cash Rewards notifications off separately from other Phantom notifications.

9. Where can I see what I've earned?

• Cash page: your rate appears under your balance, with tiles for All Time earnings and your Next Payout.
• Rewards sheet: tap either tile for all-time, this-week, estimated payout, and payout date.
• History: each weekly payout appears as a Cash Reward entry in your Cash history and under the Reward tab in History. You can also view the onchain transaction on Solana.

10. Do I need to verify my identity?

Not to get started. You can enroll and earn without identity verification.

Once the total rewards you've received from Phantom reach $1,500 in a single tax year, rewards pause until you either verify your identity (if you're a US citizen or resident) or confirm that you're not a US citizen or resident.

The $1,500 annual threshold includes all taxable rewards from Phantom combined: Cash Rewards, referral rewards, and any promotional or incentive payouts. US tax rules require Phantom to report rewards paid to US citizens or residents above an annual threshold. In order to complete these reporting requirements, Phantom must collect tax information. The $1,500 checkpoint sits below that threshold so we can collect what's required first. It applies to everyone because we need to confirm whether or not you're a US citizen or resident before continuing.

11. My rewards paused. What do I do?

If your rewards pause because you hit a $1,500 payout limit in a single tax year, you'll see a prompt asking whether you're a US citizen or resident.

• US citizen or resident: choose Yes and complete a short identity verification that asks for your full name, address, date of birth, and Social Security number. Verification is handled by our tax reporting partner; although Phantom receives your verification status, Phantom does not receive your personal information or documents.
• Not a US citizen or resident: choose No, I'm not, check the box attesting that you are neither a US citizen nor a US resident for tax purposes, and tap Confirm. No documents are required.

Either way, rewards resume from the next daily calculation.

12. What happens to my Cash and my rewards while paused?

Your Cash balance is completely unaffected, and you can keep using your account normally. Rewards you've already received stay in your balance. The only thing that pauses is new rewards.

Rewards aren't earned while paused, so there's nothing to back-pay once you resume, which is why it's worth completing the prompt as soon as you see it. If you never complete it, your rewards stay paused and you keep everything you've already earned; you can come back and finish the step at any time.

13. Will I owe taxes on my rewards?

Possibly. Rewards may be taxable income depending on where you live and the amount you earn. If you're a US citizen or resident and your total rewards from Phantom in a calendar year reach the IRS reporting threshold, Phantom will issue you a tax form (such as Form 1099-MISC) for that year. Phantom doesn't provide tax advice, so check with a tax professional about your situation. If you are not a US person, you are responsible for complying with your jurisdiction's tax laws and reporting when required.

14. Where is Cash Rewards available?

Cash Rewards is available to Phantom Cash users in most countries through the Phantom mobile app. It isn't available in the UK, as well as jurisdictions sanctioned by the US. If you are in an ineligible region, the app shows that rewards aren't available.