What Is Penrose Finance (PEN) Coin Review ?
Penrose Finance is a protocol for optimizing yield, voting rights and liquidity provision on Dystopia. Dystopia is a decentralized exchange (AMM) where tokens can be exchanged with user-provided liquidity. These users earn DYST emissions. Those who lock DYST will receive veDYST and a higher percentage of DYST rewards. veDYST or vote escrowed DYST is a concept first introduced by Curve Finance that aims to reward long-term users of a protocol. Those holding veDYST will receive trading rewards from the protocol as well as voting rights to direct DYST issuance.
Penrose Finance When users deposit their veNFT or DYST, they automatically receive a proportional amount of penDYST (penDYST is minted 1:1 for deposited DYST). penDYST is a tokenized, fungible representation of 1 locked Penrose DYST. Due to the way Dystopia’s rebase mechanism works, this position is never diluted as Penrose automatically converts rebased DYST to penDYST and passes this on to penDYST stakers.
Penrose Finance (PEN) Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Penrose Finance |
| Short Name | PEN |
| Circulating Supply | 2,122,010.00 PEN |
| Max Supply | N/A |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Why Penrose?
Penrose is a coalition of the leading protocols on Polygon. They aim to pool collective resources for the greater good of Polygon and are looking for partners that share long-term commitment to the ecosystem’s sustained growth and development. A summary of Penrose’s benefits are listed below:
- Penrose allows Dystopia LP depositors and veNFT holders to maximize their returns.
- They aggregate voting power on Dystopia and allow vlPEN holders to vote for LP DYST emissions while earning as the same time.
- Voting with Penrose is more effective than voting with your NFT directly.
- Holders of vlPEN receive bribe revenue for directing their share of veDYST votes.
- Penrose has low fees and no development share, allowing users to maximize their earnings within the Dystopia ecosystem.
Tokens
penDYST (Tokenized veDYST)
- Tokenized deposits, minted 1:1 for each DYST locked in the platform.
- Stake to receive platform fees (DYST), Dystopia bribes and trading fees, PEN, and penDYST rewards.
Penrose Token (PEN)
- Lock to receive a share of platform fees as penDYST.
- Lock PEN for vlPEN to vote for Dystopia emissions gauge weights and receive bribe rewards.
- PEN is minted pro-rata for each DYST token claimed on Penrose.
- Any changes to Penrose’s emissions will be controlled by holders of vlPEN.
Penrose for Liquidity Providers
Penrose allows liquidity providers to earn boosted DYST and liquidity mining rewards with minimal effort.
- Earn claimable DYST with a high boost without locking any DYST.
- Earn PEN rewards based on DYST earned.
- Liquidity providers for Penrose pairs (penDYST/DYST & PEN/WMATIC) can earn an additional 0-5% platform fee in penDYST.
Penrose for DYST Stakers
Penrose Finance When users deposit their veNFT or DYST, they automatically receive a proportional amount of penDYST (penDYST is minted 1:1 for DYST deposited). penDYST is a tokenized, fungible representation of 1 locked Penrose DYST. Because of the way Dystopia’s rebase mechanism works, this position will never be diluted, as Penrose automatically converts rebased DYST into penDYST, and passes this along to penDYST stakers.
penDYST stakers on penDYST are enitled to the following benefits:
- No dilution, as ve(3,3) rebases are passed along to stakers as more penDYST.
- Since penDYST is a liquid token, it allows stakers to easily exit their locked position at any time.
- 10% share of DYST earned by Penrose protocol LPs, as DYST.
- Protocol-optimized Dystopia trading fees.
- Protocol-optimized Dystopia gauge bribes.
- At least 5% floor share of all PEN emissions (see below for bonus details).
Supercharged yields on your own liquidity
Penrose Finance the optimization of Penrose and earn increased DYST and Liquidity mining rewards with minimal effort!
Stake PEN to grow your share of the platform’s earnings
Earn Dystopia’s protocol fees, lesser locking duration (4 years > 16 weeks) as well as optimized bribes!
Have a voice in how Penrose expands
Control voting power, decide on DYST emissions, earn protocol fees and expand alongside Dystopia & Penrose.