When users deposit their veNFT or DYST, they automatically receive a proportional amount of penDYST (penDYST is minted 1:1 for DYST deposited). penDYST is a tokenized, fungible representation of 1 locked Penrose DYST. Because of the way Dystopia’s rebase mechanism works, this position will never be diluted, as Penrose automatically converts rebased DYST into penDYST, and passes this along to penDYST stakers.
penDYST stakers on penDYST are enitled to the following benefits:
No dilution, as ve(3,3) rebases are passed along to stakers as more penDYST.
Since penDYST is a liquid token, it allows stakers to easily exit their locked position at any time.
10% share of DYST earned by Penrose protocol LPs, as DYST.
Protocol-optimized Dystopia trading fees.
Protocol-optimized Dystopia gauge bribes.
At least 5% floor share of all PEN emissions (see below for bonus details).
Bonus PEN emissions:
penDYST stakers have large upside above their floor amount of PEN emission.
PEN Earned = (Current penDYST Staked / Total DYST)
For example, if you own 1% of all DYST as penDYST, you will receive 1% of all PEN emissions.
penDYST stakers will earn whichever number is greater between the floor and this formula. This incentivizes stakers to continue growing their penDYST lock in order to receive a greater share of PEN emissions.
Any penDYST staker contributing significantly to bootstrapping Penrose'sDYST lock is eligible to be a partner. Learn more about Parters program here.