xPEX

Emission for the PEX token

xPEX is the X token in the PEX protocol. When PEX holders stake PEX token, 1:1 amount of xPEX token will be distributed to the staker. Also, a certain amount of xPEX will be released in each week. In order to involve traders, LP providers and PEX holders, the protocol will provide xPEX for the ecosystem contributors under the AEE mechanism.

The utility of xPEX:

1. LP Difficulty fee

A certain amount of xPEX will be burnt for the LP mint when the difficulty level > 0. For details, please refer to the LP staking page.

1. Direct conversion to PEX with discount

xPEX holder can directly convert xPEX into 25% amount of PEX token.

1. Vesting for PEX token conversion

xPEX holder can lock and vest the xPEX token into same amount of PEX token.

Distribution of xPEX:

1. LP APR Archiver

When the protocol revenue cannot cover the targeted APR, the xPEX emission will be given to LP holders and used as LP APR protection.

1. PnL Rebate

Part of the emission will be distributed to the losing side (LP provider vs trader) in the protocol. If both sides' performance is similar, a premium will be distributed as a reward.

1. Main Emission Pool

A weighted average proportion of the emission will be distributed to PEX stakers and LP Providers.