Pharaoh Exchange

**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 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.

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.