🧳PULSERIDE Native Tokens

PULSERIDE uses two tokens to manage its utility and governance:

$RIDE — ERC-20 utility token of the protocol

$oRIDE — ERC-20 call option token of the protocol

$pRIDE — ERC-721 governance token in the form of an NFT (non-fungible token)

$bpRIDE - ERC-20 tokenized pRIDE that is used as bribe rewards for Synergistic Inter-Protocol Emissions (SIPEs)

$oRIDE - ​

$oRIDE is used for rewarding liquidity providers through emissions.

Liquidity providers in gauges receive the $oRIDE emissions directed to the gauge but forgo receiving swap fees (users who manage their own concentrated liquidity position are entitled to the AMM's fee, which is about 13% of the swap fees that they generate). $oRIDE is a call option token that is used as the emission token for the protocol. 1 $oRIDE lets you purchase 1 $RIDE token at a discounted rate or lock your $oRIDE 1:1 for pRIDE (max locked). Holders of $oRIDE can exercise the right to discounted $RIDE by paying with $PLSX to convert their $oRIDE tokens into $RIDE. The discount rate may be subject to change based on market conditions.

Note: You can also always sell your $oRIDE in the market to exit the position without having to exercise the call option.

$pRIDE -

pRIDE is used for governance. Any $RIDE holder can vote-escrow their tokens and receive pRIDE (also known as pNFT) in exchange. Additional tokens can be added to the pRIDE NFT at any time.

pRIDE holders receive 90% of trading fees from the gauge they voted for.

pRIDE voters will receive 85% of the $PLSX rebase for the pairs that they vote for in the form of autobribes. This means that if they vote for pairs that contain a large amount of $PLSX, they will receive more $PLSX revenue from that pair during the week than they could from smaller $PLSX pairs or pairs that don't include $PLSX at all.

• ve(3,3) Mechanics: Combination of Olympus DAO's rebase mechanism and Curve's vote-escrowed model

• Anti-dilution level capped at 15% to protect pRIDE holders from dilution and distribute pRIDE dynamically among participants over time (30% rebase for first 90 days of RIDE's launch)

• Gauge: Pool to earn $RIDE rewards based on pRIDE weekly voting allocation; no negative voting

• Bribes: Custom amount of tokens paid by a third party on a gauge to pRIDE holders in exchange for their votes

• Farming Boost is included, this will boost the emissions of pRIDE holders that are LPing

• Flexibility: pRIDE positions can be merged, split, and sold on the secondary market

• Epochs last for 7 days, after which bribes and trading fees are distributed

• Earn only from gauges you have voted for

• Trading fees and bribes claimable as a lump sum after the next Epoch has ended (n+2)

• Weekly voting required to be eligible for fees and bribes, unless using an optimizer

• Pre-approval of vote coming soon

• Vote can be changed or reset at any time

• Vote weights reset each Epoch; must vote each Epoch to earn fees and bribes.

$bpRIDE -

This provides an inter-protocol and inter-chain ecosystem where pNFT holders of one protocol can grow their pNFT position on another protocol just by voting for gauges.