penDYST token, and how it fits in the Penrose platform
- 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.
- 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.
Last modified 1yr ago