2Phux Whitepaper V 2.3
Unlocking Higher Yields and Stronger Voting Power for the Phux Ecosystem
Last updated
Unlocking Higher Yields and Stronger Voting Power for the Phux Ecosystem
Last updated
Notice to Readers: 2Phux.io is a separate, unaffiliated 3rd party protocol built on top of the Phux.io system.
How it Works - The Convex like layer for PulseChain
2Phux.io is a separate, unaffiliated 3rd party protocol built on top of the Phux system (Phux protocol is a fork of Balancer V2 on Pulsechain) to provide maximum incentives to Phux liquidity providers and $PHUX stakers into vePhux (Vote Escrowed $PHUX) through social aggregation of $PHUX deposits and $2PHUX native token.
For $PHUX stakers, 2Phux provides a seamless onboarding process to vePHUX, by creating a tokenised wrapper token called $Prime2PHUX that represents the 80/20 $PrimePHUX token locked up for the maximum time in VotingEscrow. This can be staked to receive existing rewards ($PHUX + $PrimePHUX) from Phux protocol, in addition to a share of any $PHUX earned by 2Phux.io, and additional $2PHUX. This minting process is irreversible however users can trade their $Prime2PHUX back to $PHUX through an incentivized liquidity pool.
For Liquidity providers, 2Phux.io abstracts complexity of depositing into the Phux protocol gauge system, providing a smooth onboarding process to all Phux protocol gauge deposits. 2Phux.io allows depositors to achieve a high boost through the protocol owned vePHUX while also accumulating additional $2PHUX rewards.
Summary Points:
2PHUX is a yield aggregation and veToken accumulation protocol.
2PHUX enables Enhanced Yield Generation: Users can achieve superior yield rates through 2Phux by leveraging the protocol’s collective voting power.
Boosted Rewards for Liquidity Providers: PHUX liquidity providers enjoy enhanced rewards by staking through the 2Phux protocol.
Governance and Yield Direction: Users direct votes for increased yields to guaged PHUX Liquidity pools.
One of the most significant features of the 2Phux Protocol is its ability to provide up to a 2.5X boost on liquidity provider (LP) rewards. This is achieved through the protocol’s owned voting power, which amplifies the yield potential over and above individual liquidity provision alone.
The protocol introduces a powerful incentive model where participants can lock the protocol token to gain governance rights. This lock allows users to direct gauge votes towards specific liquidity pools, influencing the distribution of rewards within the ecosystem. In addition to governance influence, lockers receive a portion of the protocol’s fees.
Staking the Prime variant of the protocol token within 2Phux opens the door to the highest tier of rewards. Participants staking this token not only earn the standard rewards but also receive the largest share of the protocol fees. This mechanism provides an unparalleled opportunity for users to maximize their earnings.
Enhanced Yield Potential: The protocol’s design ensures that Phux Ecosystem participants can significantly increase their yield potential.
Simplified Participation: Despite its sophisticated mechanisms, the protocol offers a streamlined and user-friendly interface with an option to fully automate your experience.
Decentralized Voting Power: This approach places the power of choice directly in the hands of users, allowing them to selectively delegate their votes among several available pathways.
“We Give More PHUX”
