spCHR

Time is liquid, moving forward

$spCHR is a Liquid Market product for Chronos. A liquid wrapper for $veCHR, it allows for blackholing governance on Chronos with an open exit position at all times.

Chronos is the biggest ve(3,3) DEX on Arbitrum. Users earn governance tokens as yield that, once locked, give them access to trade fees & voting where token emissions go.

To unlock $CHRs full governance potential, liquidity providers must lock their governance tokens up to 2 years. Dyson mitigates this process by taking the responsibility of holding locked tokens in exchange for an exit position that is yield-bearing.

How does $spCHR work?

$spCHR is a receipt token that is minted every time somebody supplies Liquid Market with $CHR tokens. It acts as a representation of veCHR that is locked in the minting process. Every time a user mints $spCHR, a 5% mint fee is charged.

What if I want to exit my position?

If you want to exit your $spCHR position, just exit using the $spCHR / $CHR liquidity pool on Chronos.

How does $spCHR keep its peg?

Due to the nature of $spCHR, it is highly incentivized by Dyson using its veNFT gathered from the liquid wrapper. Users who also want to make the most out of their minted tokens can do arbitrage on the peg.

Liquidity sink & governance blackhole

Because using $spCHR requires the vault to perpetually lock $CHR, Dyson acts as a liquidity sink for $CHR holders, and a governance blackhole to Chronos. As Dyson's veNFT grows, so does its potential for yielding rewards for $spCHR.