Thena is a pioneering decentralised exchange (DEX) and liquidity layer built on the BNB blockchain, designed to revolutionise the DeFi ecosystem. Offering a convenient permissionless platform, THENA provides a seamless token exchange and liquidity provision for a wide range of assets. Our mission is to provide users and protocols with innovative solutions to meet the ever-changing needs of the DeFi space

Tokens

$THE— BEP-20 utility token of the protocol

$THEemissions currently have two key objectives:

• Reach and maintain adequate liquidity to facilitate optimal trading conditions — $THEare emitted as farming rewards to incentivize deep liquidity
• Encourage decentralized governance — $THEcan be used to take part in the governance for continuous development of the platform. The long term goal is to achieve true decentralization.

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

veTHEis the vote-escrowed version of $THE. Users can lock their $THEtokens for up to 2 years to get veTHE. The longer the lock, the higher the amount of veTHEvoting powerreceived.

To encourage continuous locking and sustained participation from stakeholders, the veTHEbalance of users declines over time until it reaches zero at the conclusion of the initial locking period. veTHEpositions can be increased, split up and resold on a secondary market.

theNFT — ERC-721 founders' token in the form of an NFT (non-fungible token)

theNFT can be staked for revenue sharing. The staking pool receives a share of trading fees from THENA, as well as royalties from secondary sales of theNFT.

Token Addresses

$THE 0xF4C8E32EaDEC4BFe97E0F595AdD0f4450a863a11

veTHE 0xfBBF371C9B0B994EebFcC977CEf603F7f31c070D

theNFT 0x2Af749593978CB79Ed11B9959cD82FD128BA4f8d

veTHE

Lock your $THE for voting power

veTHE Utility

• Protocol revenue access: veTHE holders can vote for gauges on a weekly basis, and access 80% of the trading fees (later 90%) and 100% of the bribes for the associated pool.
• Governance participation: veTHE holders can partake in governance and cast votes for the protocol improvement proposals.

veTHE voters receive:

• Trading fees generated by the pool(s) they vote for
• Bribes deposited for the pools they vote for
• Weekly veTHE distribution (rebase)

veTHE Specifications

• ve(3,3) Mechanics: The Olympus DAO anti-dilution method, commonly known as the rebase mechanism, is combined with Curve's vote-escrowed modelin the Solidly-initiated ve(3,3) Mechanics concept. To safeguard veTHE holders from dilution and to enable a dynamic distribution of veTHE among participants over time, the anti-dilution level has been capped at 30%.
• Gauge: A pool with dynamic $THE rewards based on veTHE weekly voting allocation. No negative voting.
• Bribes: Custom amount of tokens paid by a third party on a gauge to veTHE holders in exchange for their votes.
• Max Lock: 2 years.
• Farming Boost: This feature has not been included to prevent from the emergence of any profit maxi protocols on top of THENA. Conversely, a dynamic and decentralized governance over $THE emissions is fostered over time.
• Flexibility: veTHE positions can be merged, split, and sold on the secondary market.

Voting

For voting, you need to be aware of epochs. Each epoch lasts for 7 days, after which the bribes and trading fees are distributed. You earn only from the gauges (pools) you have voted for.

• Trading fees and bribes are claimable as a lump sum after the next Epoch has ended (n+2)
• You have to vote weekly in order to be eligible for the fees and bribes, unless you use an optimizer
• You can pre-approve your vote for a number of weeks in advance (coming soon)
• You can change or reset your vote at any time
• Vote weights reset each Epoch. You need to vote every Epoch in order to earn the bribes and trading fees.