$RETRO / $veRETRO/ $oRETRO
Retro Finance uses two tokens to manage its utility and governance:
$RETRO — ERC-20 utility token of the protocol
$oRETRO — ERC-20 call option token of the protocol
$veRETRO — ERC-721 governance token in the form of an NFT (non-fungible token)
$oRETRO
$oRETRO is used for rewarding liquidity providers through emissions.
Liquidity providers in gauges receive the $oRETRO emissions directed to the gauge but forgo receiving swap fees (users who manage their own concentrated liquidity position are entitled to the ALM's fee, which is about 13% of the swap fees that they generate). $oRetro is a call option token that is used as the emission token for the Retro protocol. 1 $oRETRO lets you purchase 1 $RETRO token at a discounted rate or lock your $oRETRO 1:1 for veRETRO (max locked). Holders of $oRetro can exercise the right to discounted $RETRO by paying with $CASH to convert their $oRETRO tokens into $RETRO. The discount rate may be subject to change based on market conditions.
Note: You can also always sell your $oRETRO in the market to exit the position without having to exercise the call option.
veRETRO
veRETRO is used for governance. Any $RETRO holder can vote-escrow their tokens and receive veRETRO (also known as veNFT) in exchange. Additional tokens can be added to the veRETRO NFT at any time.
veRETRO holders receive 78.33% of trading fees from the gauge they voted for.
veRETRO voters will receive the $CASH 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 $CASH, they will receive more $CASH revenue from that pair during the week than they could from smaller $CASH pairs or pairs that don't include $CASH at all.
veRETRO Specifications:
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 veRETRO holders from dilution and distribute veRETRO dynamically among participants over time (30% rebase for first 90 days of Retro's launch)
Gauge: Pool to earn $RETRO rewards based on veRETRO weekly voting allocation; no negative voting
Bribes: Custom amount of tokens paid by a third party on a gauge to veRETRO holders in exchange for their votes
Max Lock: 2 years
Farming Boost is included, this will boost the emissions of veRETRO holders that are LPing
Flexibility: veRETRO positions can be merged, split, and sold on the secondary market
Voting:
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.
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