While several of the largest protocols on Polygon are already members of Penrose, we encourage all protocols with an interest in the Dystopia ecosystem to carefully consider the benefits of joining the Penrose and Sphere Finance ecosystem.
Why join Penrose as a partner?
For those protocols who have yet to make a firm decision, we believe that our tokenomics and smart contract design makes Penrose the ideal partner for optimizing returns and maximizing voting power from your Dystopia veNFT.
We believe that by properly incentivizing partners, we can offer the best yields to LPs and DYST lockers, further increasing the benefits of Penrose to partners, LPs, and the Polygon ecosystem as a whole.
What are the benefits of becoming a partner?
Is my protocol eligible to become a Penrose Partner?
Since Penrose has not launched yet, we are currently evaluating all partner applications on individual basis.
Once Penrose has launched, any penDYST staker contributing significantly to bootstrapping Penrose's DYST lock is eligible to be a partner. If a holder outside of the original early launch protocols accumulates at least as much penDYST as the smallest partner, they will be considered a partner and migrated to the partner emissions structure.
How are Partner Emissions handled?
Partners receive a minimum (floor) percentage of PEN emissions above normal penDYST stakers, calculated as:
Floor Partner PEN Earned = 2 * (Initial penDYST Staked / Total DYST)
- For example, if a partner deposits their veNFT that is worth 2% of the total DYST supply, then they will receive 4% of PEN emissions.
- As for other penDYST stakers, partners also have large upside above their floor amount of PEN emission:
PEN Earned = (Current penDYST Staked / Total DYST)
- Partners will earn whichever number is greater between the floor and this formula. This incentivizes partners to continue growing their penDYST lock in order to receive a greater share of PEN emissions.
- PEN emissions allocated to partners have a maximum total floor of 25% of all PEN emissions. Once the combined partner floor reaches 25%, the floor portion of the PEN emissions will be distributed using the following formula:
Floor Partner PEN Earned = Partner Initial penDYST / Total Partner Initial penDYST * 0.25
When can a partner join?
Penrose partners can join at any time. There is no cutoff or deadline date. Unlike other similar projects with lumpsum allocations, Penrose partners receive a higher floor of PEN emissions than normal penDYST stakers, with a maximum combined floor of 25% of PEN emissions, but have unlimited upside should they lock more penDYST. This makes potential with Penrose truly limitless.
Are Partners protected against downvoting?
Yes, Penrose supports it's partners no matter what. As a coalition of aligned partners, Penrose will support our partners to whitelist tokens as-needed, and does not anticipate needing to protect partners from down-voting each other. However, should the need arise, we can re-evaluate.
Penrose also offers its partners an exclusive ability to further rent their downvote protection rights to other protocols to generate additional revenue for their respective protocols.