# $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**

{% hint style="info" %}
$oRETRO - ​0x3A29CAb2E124919d14a6F735b6033a3AaD2B260F
{% endhint %}

\
$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**

{% hint style="info" %}
$veRETRO - 0xB419cE2ea99f356BaE0caC47282B9409E38200fa
{% endhint %}

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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