penDYST token, and how it fits in the Penrose platform
penDYST is tokenized veDYST
A tokenized version of veDYST, penDYST, is returned to the user at a 1:1 rate.
Penrose automatically converts rebased DYST into penDYST proportional to the users staked amount.
If a user deposits DYST into Penrose, that DYST is locked forever on the platform as veDYST.
Converting DYST to penDYST is a one-way transaction (i.e. it can not be undone).
penDYST can be staked into the platform to receive normal Dystopia admin fees one would get for staking their veDYST on Dystopia.
Additionally, users staking penDYST will receive DYST from Penrose's performance fee, as well as the platform native token PEN.
penDYST Liquidity Pools
Rather than staking penDYST, users can also choose to contribute to the Dystopia liquidity pool penDYST/DYST.
Users can then stake their penDYST/DYST LP token on Penrose to receive a 0-5% fee on DYST earned by other LP positions for providing liquidity to enter and exit Penrose's DYST ecosystem via the penDYST token.
By default this is 0% but can be raised by a governance vote.