| Time | AUM | Reward Multiplier | User Shares | User USDX Balance |
|---|---|---|---|---|
| 0 | 100 | 1.0 | 100 | 100 |
The reward multiplier automatically adjusts token balances to reflect yield accrual. User's displayed balance = shares × rewardMultiplier. This enables automatic yield distribution while maintaining $1 peg and avoiding gas costs of manual claims.