Back to collectionCashback and Staked Value Measure Different Things
Paid incentives, locked capital and advertised yield need separate accounts.
The ether.fi-related report puts cashback delivered as usable value at $20 million and total staked value at 1.98 million ETH, alongside 3.71% growth and 67,068 ETH of net staking. These are reported figures; the description does not give a common observation interval or a reconciliation of the growth and net-staking measures. Cash paid to users and ETH committed to staking cannot be combined into a return figure.
Paid cash, pending rewards, points, locked principal and fixed or variable exposure have different uses and exit conditions. Atomic execution can reduce partial completion, but it does not settle questions about rate, maturity, counterparty exposure or early-exit cost. Incentives become spendable capacity only when received, reconciled and available, not when an optimistic conversion value is attached to them.