# Claiming Rewards

Upon a deposit in either the Collateral or Premium vaults, the user will receive a receipt of their deposit in the form of an ERC-1155 token. This token will denominate the depositors position and outline their return pattern. 

#### Claiming proceeds from Vaults:

* Upon epoch end, or vault depeg/knockout, the vault will close and the depositors will be able to claim their ETH payouts. Depositors will burn their Vault tokens to claim the proceeds. 

#### Claiming Y2K Rewards:

* Depositors in Earthquake vault receive $Y2K rewards proportional to their share of vault. Rewards are emitted directly to minted vault positions in V2 and claimed automatically together with payouts when vault tokens are burned.

## Claim Flow:

Once users mints a Y2K vault token their position will be visible in the [My Portfolio](https://app.y2k.finance/my-portfolio) tab. During the epoch position status will denote “ongoing”. 

### Premium Vault deposits

**No Depeg.** 

Depositors in the Premium vault will see the status denote “liquidated” and users will have the option to “burn” their tokens.

**Depeg**

Depositors will be able to claim ETH rewards immediately after the vault closes and the epoch ends. 

In this case the status of the token will denote “win” under the position and users will have the option to “claim”. 

### Collateral Vault Deposits 

**Depeg**

Depositors in the Collateral vault will see “collateral liquidated” under their position, but will still have the option to “claim premium”.

**No Depeg**

In this case the status of the token will denote “win” and Collateral vault depositors will have the option to “claim”.

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Note that regardless of the outcome all vault depositors will be eligible for Y2K rewards which are automatically claimed when positions are burned after the epoch concludes. 
{% endhint %}