Most of the reward is new issuance. Reporting gross as income overstates a return that is partly dilution.
Key takeaways
Report net of commission.
Record the value at receipt.
Separate issuance from fee income where you can.
Verified October 27, 20261 min read
Two numbers, one label
A staking rate quoted as 2.63% is a gross protocol figure. What a holder receives is that minus the venue’s commission, and what they keep in real terms depends on how much of the reward is dilution rather than fee income.
Layer
Q3 2026
Note
Protocol gross
2.63%
Issuance plus fees
Venue net
1.95–2.37%
10–40% commission
Real return
Lower again
Partly dilution
Reporting it
Treat the reward as ordinary income at the moment of receipt, recorded at the value then. That number becomes the cost basis for a later disposal. A venue that reports a single “rewards” line without a timestamp makes this harder, not easier.
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