$PHAR Token Rights

Updated Mar 10, 2026

Overview

Token(s): PHARxPHARp33
Token Type: GovernanceUtility
Utility: Staking, Liquidity Incentives

xPHAR stakers can vote to direct emissions to their favorite LP pairs. Stakers earn 100% of protocol fees, vote incentives and exit penalties. p33 is the liquid staked version of xPHAR and can be minted with xPHAR.

Governance Rights

Control

Only xPHAR holders have voting rights. xPHAR is non-transferable but can be exited if needed. The PHAR > xPHAR conversion process is 1:1 and can be freely converted, but instant exit comes with a 50% penalty

Governance Decisions

xPHAR

Treasury Decisions

N/A

Revenue Decisions

xPHAR

xPHAR stakers direct protocol fees & vote incentives

Fee Switch

100% of protocol fees and vote incentives go to xPHAR holders

Primary Value Accrual

Protocol Revenue Share

Value accrues to xPHAR stakers through protocol fees and voting incentives

Equity Statement

There are no team allocations of other distributions, 100% of all emissions to go gauges.

Economic Rights

Value Capture

xPHAR token is used to vote to direct emissions to liquidity and 100% of protocol fees and vote incentives go to xPHAR, as long as they are active staking. xPHAR requires users to be staked to earn vote incentives and rebases.

Buybacks

N/A

Dividends

xPHAR

Protocol fees and vote incentives flow to xPHAR stakers

Burns

Active

50% of PHAR tokens used to mint xPHAR are permanently burned

Ownership

Fundraising: Unknown
Equity Revenue Capture: No