Reaper Finance
  • Welcome To Reaper
    • Introduction
  • Protocol
    • The Origin Event
    • Scythe Farms
    • Hades
    • Bonds
    • Tokens
    • Game Plan
  • Big Brain Features
    • Peg Stability Fund
    • The Treasury
    • Dynamic Hades Emissions
    • Liquidity Rehypothecation
  • Important Information
    • Official Links
    • Contracts
    • Security
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  • $REAP - The Protocol's Pegged Token
  • Primary Attributes
  • $sREAP - Share & Governance Token
  • Primary Attributes
  • Total $sREAP Distribution
  1. Protocol

Tokens

Overview

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Last updated 1 month ago

Reaper Finance employs a two-token system to maintain $REAP's peg value, and to stabilize the protocol during market volatility. The two core tokens in the ecosystem are $REAP and $sREAP

$REAP - The Protocol's Pegged Token

$REAP is the primary token of the Reaper protocol, designed to act as the legal tender, it's built-in stability mechanism aims to maintain a peg of $1.00 (1 $scUSD).

Primary Attributes

  • Initial Mint: 100 $REAP will be minted upon contract creation for initial liquidity, and 525,000 $REAP were allocated for The Origin Event emissions.

  • Peg Mechanism: $REAP is pegged to $scUSD through an algorithmic system, and is NOT COLLATERALIZED.

  • Varied Volatility: Unlike traditional fiat-backed stablecoins, $REAP's price will be volatile, ranging above or below 1 $scUSD and based on market demand and supply mechanics.

  • Tokenomics: The supply of $REAP is dynamically increased when the price is above-peg, and maintained when below-peg. The supply is unlimited and uncapped, but supply expansion rates are dependent on the revenue generated by Reaper's Peg Stability Fund (PSF). This way all newly $REAP is always backed by the $scUSD in the fund.

*WARNING: Note that $REAP actively pegs via the algorithm and mechanism, and is only backed by the Peg Stability Fund (PSF). It does not mean it will be valued at 1 $scUSD at all times as it is not collateralized. $REAP is not to be confused with a fiat-backed stablecoin. There are risks, and this is an expirimental algorithmic token.*

$sREAP - Share & Governance Token

$sREAP represents governance & protocol ownership. It also acts as a share token that reflects confidence in the Reaper protocol's ability to maintain the peg of $REAP

Primary Attributes

  • Bootstrapping Epoch: The initial epoch will run for 60 hours (10 epochs) at a 0.2% expansion rate, regardless of peg.

  • Initial Mint: 30 $sREAP will be minted upon contract creation for initial liquidity, and 49970 $sREAP allocated towards liquidity rewards.

  • Tokenomics: 49,970 $sREAP for liquidity rewards over 12 months linearly; 10000 $sREAP to the team also linearly over 12 months.

  • Epoch Expansions: During expansion epochs, $REAP is minted based on generated revenue and distributed to $sREAP holders who have staked in Hades.

  • Governance: Holders of $sREAP can vote and have ownership rights to the protocol. They can participate in protocol governance.

Total $sREAP Distribution

$sREAP has a maximum total supply of 60,000 tokens, strategically distributed over 12 months to balance growth, development, and community involvement:

  • 49,970 $sREAP Shares distributed as farming rewards over 12 months.

  • 10,000 $sREAP Shares allocated to developers, vested linearly over 12 months.

  • 30 $sREAP Shares minted at contract creation for initial liquidity purposes.

This allocation ensures a healthy balance between incentivizing participants, supporting development efforts, and providing liquidity to the protocol

$REAP
$sREAP
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