Ripae Finance
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Bank

$pegToken = $pFTM, $pAVAX, $pSolid, $pBNB, $pMatic, $pCRO, $pETH $bondToken = $bFTM, $bAVAX, $bSolid, $bBNB, $bMatic, $bCRO, $bETH $nativeToken = $FTM, $AVAX, $SOLID, $BNB, $MATIC, $CRO, $ETH Share Tokens = $PAE, $sCRO, $sETH
The information on this page is the same for all Ripae Banks. One small difference is that our CRONOS Bank uses a new and unique Dual Bank system where the expansion of $pCRO is divided between both $sCRO and $PAE stakers in the Bank. The distribution ratio is flexible depending on the market conditions.
The bank is where you can stake your ownership of Ripae Finance ($PAE) and as a reward, you will receive newly minted $pegTokens depending on which chain. As with any bank, there are rules to follow which are put in place to make the Ripae Ecosystem as fair as possible for all parties involved. This means that the following rules are in place:
  • Depositing or Withdrawing $PAE has a lockup period of 6 Epochs for $PAE withdrawals. It also reset the harvest lock to 3 Epochs.
  • Adding to your already staked $PAE will reset the lockup counter to 6 Epochs and the harvest lock to 3 Epochs.
  • You can harvest your freshly minted $pegToken every 3 Epochs. Every harvest will reset the harvest lock to 3 Epochs and the $PAE withdrawal to 6 Epochs.

Epochs

An Epoch is very easily defined as a length of time. In Ripae Finance, 1 Epoch has a default base of 6 hours. 3 Epochs would then be 6 * 3 = 18 hours. The countdown clock until the next Epoch can be easily seen in the bank.

Minting

The minting of new $pegToken relies on the Time Weighted Average Price (TWAP) of $pegToken to be above 1.009 the $nativeToken (Also called Expansion Phase). The price of the $pegToken is measured in a TWAP (Time Weighted Average Price) in order to have the most accurate un-manipulatable price on a cost basis.
Every Epoch that constitutes a mint will enable the minting process into the following:
  • Bank distribution of the $pegToken to Stakers = 80%
  • DAO Treasury = 18%
  • Dev fund = 2%
Note that if TWAP of the $pegToken is less than 1.01 native token, there will be no minting in the Bank during that specific Epoch on that specific $nativeToken.

Expansion Rate

The total Minting rate of new $pegToken in the bank on each Epoch is based on the current circulating supply of $pegToken and a multiplier. The max printing rate for each epoch is stated in the table below based on circulating supply, however, the actual printing of the $pegTokens can vary between Bank and Chains so please check the actual APR for the current print on the Bank page of each peg as the expansion on each chain is a separate entity. Note that the initial MAX expansion rate for the first week of a Bank is 2%.
  • <500 000 Circulating Supply of the $pegToken = 4.50% Max Expansion Rate
  • 500 000 Circulating Supply of the $pegToken = 4.00% Max Expansion Rate
  • 1 000 000 Circulating Supply of the $pegToken = 3.50% Max Expansion Rate
  • 1 500 000 Circulating Supply of the $pegToken = 3.00% Max Expansion Rate
  • 2 000 000 Circulating Supply of the $pegToken = 2.50% Max Expansion Rate
  • 5 000 000 Circulating Supply of the $pegToken = 2.00% Max Expansion Rate
  • 10 000 000 Circulating Supply of the $pegToken = 1.50% Max Expansion Rate
  • 20 000 000 Circulating Supply of the $pegToken = 1.25% Max Expansion Rate
  • 50 000 000 Circulating Supply of the $pegToken = 1.00% Max Expansion Rate

Debt Phase

The Expansion Phase (Epoch(s)) right after the contraction phase and if there is still the $bondToken left to be redeemed, is called the Debt Phase. During the Debt Phase, the Bank will issue new $pegTokens as an ordinary Expansion Phase, however, 65%, of all new $pegToken minted will go to the Treasury Fund in order to be able to redeem all outstanding the $bondToken. After the Treasury Fund has gotten enough of the $pegToken to cover the redemption of outstanding $bondToken, the Expansion Phase distribution will return to the ordinary Bank distribution stated above.

UX Information

  • "Next Epoch" shows a timer counting down until the next Epoch shift
  • Current Epoch show the current Epoch the protocol is on
  • $pegToken Price(TWAP) show the Time Weighted Average Price of the $pegToken in relation to the peg
  • APR shows the calculated non-compounded Annual Percentage Rate of the investment, this value fluctuates depending on multiple factors
  • $PAE Staked shows how many $PAE have committed to the Bank
  • There is also information about your own amount of staked $PAE and how many $pegToken there is for you to withdraw
Last modified 4mo ago