Understanding penDYST

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 Staking

  • 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.

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