Pharaoh
Gauge Guidelines
Pharaoh retains the authority to gauge tokens based on their performance and associated risks. Projects that adhere to these guidelines will be considered to be eligible for a gauge.
Goals
Our goal with these guidelines to make sure innovative teams and projects have access to REX incentives, while maintaining measures to prevent exploitation.
By creating strict guidelines, we safeguard REX holders from low-quality or exploitative projects, while allowing legitimate projects to scale using Pharaoh's incentives.
Guidelines for All Projects
All projects must follow these rules and compliance standards:
| Rules | Compliance & Transparency |
|---|---|
| Maximum vote incentive = 7d fee total | USDC or ETH connector |
| Protocol Owned Liquidity < 30% | Sustainable emissions |
| Minimum $10k weekly volume | Regular community updates |
| Minimum 20k liquidity | Treasury transparency |
| Minimum 1k weekly fees | If multichain, bridgeable |
Contract
| Mint Function | Security | Upgradeability | Verification |
|---|---|---|---|
| Must be renounced/locked | Documentation | Timelock minimum 24h | Full contract verification |
| No arbitrary minting | Public GitHub repository | Multi-sig (2-of-4 minimum) | Open source code |
| Protocol-governed minting only | Audit or battle-tested code | Community notification | No hidden functionality |
| Notice for any new mint capability | Documented security practices | Proxy review required | Clear admin privileges |
Tokenomics
| Supply | Distribution | Concentration | Allocation Caps |
|---|---|---|---|
| Fully minted preferred | Transparent allocations | 200+ unique holders | Max 40% Team/Development |
| Contract-defined supply | Detailed vesting schedules | No wallet > 5% supply | Max 60% Liquidity Incentives |
| Clear inflation schedule | On-chain verification | Top 10 holders < 40% | Max 30% Protocol Owned Liquidity |
| No arbitrary emissions | Fair launch | Clear treasury address | Min 10% Community Treasury |
Pharaoh reserves the right to modify these guidelines at any time. Projects should maintain open communication with the Pharaoh team regarding any significant changes to their protocol or tokenomics.
Case-by-case
These guidelines do not apply and cannot be applied to every single project, we reserve the right to evaluate each project on a case-by-case basis.
Proven projects that have demonstrated success and product-market fit receive more flexibility in regards to gauges. Evaluation criteria includes:
| Product & Market | Token & Team |
|---|---|
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Low fee generation tokens or projects without proven track records can be subject to even stricter guidelines that are not listed above, individualized on a case-by-case basis.
Grounds for Revocation
Pharaoh maintains strict oversight and will revoke gauges for:
| Category | Violations |
|---|---|
| Unauthorized Token Pairs | Only ETH and USDC pairs permitted by default, other pairs require explicit approval |
| Market Manipulation | Wash trading or artificial volume, price manipulation around epochs, excessive REX emissions selling |
| Contract Violations | Unauthorized token minting, undisclosed upgradeable functions, unannounced liquidity changes, security measure bypasses |
| Performance Issues | Weekly volume below $10k, roadmap deviation, development inactivity, holder requirement breaches |
| Compliance Failures | Project misrepresentation, Missing treasury monitoring, Undisclosed tokenomics changes, Reporting non-compliance |
Once a gauge is revoked, the token will be ineligible for new gauges for a minimum period of two months.
All projects undergo continuous review, and a gauge can be revoked if a project fails to maintain these standards. Established projects can have their gauge revoked too if they fail basic standards.