Pharaoh Protocol Launches Major V3 Migration October 1st
Pharaoh Protocol Launches Major V3 Migration October 1st
🏺 Pharaoh's October surprise
Pharaoh Protocol begins its V3 migration on October 1st, introducing significant upgrades while maintaining core functionality.
What's staying the same:
- 100% platform fees to voters
- LP experience unchanged
- PHAR token name preserved
- Same team and mission
Major upgrades include:
- $1M+ in audits from ConsenSys, Spearbit, and Code4rena
- Immutable core contracts with no upgrade functions
- Gas-optimized Solidity contracts
- Enhanced third-party integration capabilities
Key changes:
- vePHAR becomes xPHAR - one-time migration with no re-locking required
- Deflationary mechanism - 50% supply burns on exit
- PHAR33 introduction - auto-compounding, liquid yield token
- 5000:1 token split for easier entry
The new xPHAR eliminates governance complexity while maintaining fee capture. PHAR33 offers buy-and-hold simplicity with automatic voting and compounding, plus DeFi collateral utility.
Existing holders can migrate seamlessly when the process begins.
Pharaoh Launches xPHAR Staking Token with 100% Protocol Fee Rewards
**Pharaoh introduces xPHAR**, a new staking token that gives holders voting power over liquidity pair emissions. **Key benefits for stakers:** - Earn 100% of protocol fees - Receive all vote incentives - Collect penalties from early exits - Direct emissions to preferred LP pairs **Flexible exit options:** - Instant redemption at 1:0.5 ratio (with penalty) - Sell P33 liquid staked version - Convert PHAR to xPHAR at 1:1 ratio **Deflationary mechanism:** Half of PHAR is burned when minting xPHAR, creating scarcity. Unlike traditional ve-models, xPHAR offers governance participation without forced locks while rewarding active voters.
Pharaoh Dominates AVAX Real Yield Rankings with Top Blue-Chip Pool Selection
**Pharaoh continues its dominance** in the Avalanche ecosystem, maintaining its position as the leading protocol for real yield generation. - LHBcrypto highlights Pharaoh's **Top 5 Blue-Chip Pools** for the current epoch - The protocol has consistently outperformed competitors on AVAX - Focus remains on **concentrated liquidity** strategies for maximum capital efficiency This marks another successful epoch for Pharaoh's innovative approach to yield farming, combining strategic pool selection with advanced liquidity management.