Core concepts
Tokenomics & Emissions
Breakdown
Token Distribution
| Token Distribution | Amount |
|---|---|
| Treasury | 187500000 |
| vePHAR & PHAR(v2) Migrators | 562,500,000 |
Total Supply : 750000000
Most allocations are in xPHAR from vePHAR migrations. This means almost 40% of the supply at launch will be burned!
Emissions
Below is an approximation of our weekly emissions (before elastic emissions) vs. total supply for the first 500 Epochs (~10 years):
Emissions vs. Supply
- Initial supply (After Burns): 427500000 tokens
- Maximum supply cap: 1 Billion tokens
We added a burn line assuming 50% of emissions will be converted to xPHAR and burning supply.
- Epoch 0: 2.7M weekly emissions
- Epoch 1: 5.4M weekly emissions
- Epoch 2-5: Increased or Decreased catering to growth
- Epoch 6+: 1% decay per epoch in perpetuity
- Total supply asymptotically approaches 1B tokens
Elastic Emissions
Emissions can be modified by up to ±25% per epoch depending on protocol revenue to maintain sustainable inflation. 100% of ALL emissions go to gauges—there are no team allocations or other distributions, ensuring fully decentralized emissions.
When Revenue is >= Emissions for multiple epochs in a row, or if upcoming catalysts for revenue increase are soon coming.
When Revenue is <= Emissions substantially for multiple epochs in a row, or if upcoming catalysts for revenue decrease are expected.
Note: These are approximate projections and actual emission numbers may vary. This model demonstrates our commitment to sustainable, long-term supply growth.